Okay, so you’ve decided to participate in the Olive 8 Auction. What’s Next?

You’ve checked out our Olive 8 website. You’ve reviewed the amenities of both the condominium and its link with the Hyatt at Olive 8. You’ve read all about Olive 8’s Silver LEED certification and their dedication to green living.  You’ve even looked over the floorplans for the 34 units up for sale AND, you’ve decided to take the plunge and put in a bid on Sunday, September 19^th.

What’s next?

A  Realtor® with proven auction experience is the best source to guide you through the bidding and closing process. That’s what you’ll get when you sign up with us. We at the Stroupe Group have specialized in the downtown Seattle condominium market since 1994, and have represented bidders on a number of successfully closed auction transactions.

We don’t start our work when the auction doors open, either.

We’ll do a thorough discussion with you upfront as to what you want and don’t want in a home. We’ll then review the Olive 8 units up for auction, and place values on those specific to your wants and needs. We’ll then take a physical inspection tour with you on the unit(s) you’re interested in to make sure the investment you’re about to make is one you are thoroughly happy with.

Now, suppose we go back to the bidding list and you like Numbers 9 and 14. You may prefer Number 9 but 14 may come up first… we will help you outline a “pecking order” and advise you on a bidding strategy come auction time.

We’ll help you wade through financial aspects of an auction. As you review the Terms and Conditions, you’ll discover it can seem a little daunting.  Plus, you’ve just picked up the part about the unpublished reserve selling price.  How can you get the Olive 8 unit you want at the right cost for you?  Moreover, how do you get in the winning bid and close the deal?

From peruse through purchase, we will start you on the auction process and be with you at every step. We’ll answer all your questions, put you at ease with the auction process and most importantly, help you get what you want at one of the premier condominium properties in Seattle.

The auction is just around the corner.  Fill out the Contact Us tab at www.olive8seattle.com and we’ll be in touch with you right away.

Your dream home at Olive 8 is waiting. Let us help you make that dream come true.

Olive 8 Auction Details? Find them on our website!

Olive 8’s auction of 34 condominiums on Sunday, September 19^th promises to be the real estate event of the year.  Condominiums previously priced from $395,000 to $1.23 Million will be on the block, with some bids starting as low as $160,000.

What’s your first step in getting into the auction process? Visit our special Olive 8 website, where we’ve accumulated all the auction details. www.olive8seattle.com contains detailed information about:

• The Auction – Details on the upcoming event, including a pdf downloadable brochure, including a registration form. If you would like to be represented by the Stroupe Group, download this form.
• Auction Listings – The 34 units for sale plus floor plan design, views, number of bedrooms/baths, square feet, plus the previous and starting bid price.
• Living Green — Olive 8 is the first condominium/hotel combination building in Seattle to receive a LEED certification (Silver). If you have a desire to live a more green lifestyle, what Olive 8 offers is a must-read.
• Neighborhood – At the corner of 8^th Avenue and Olive Streets in downtown Seattle, this section details Olive 8’s easy access to transit and freeways, plus many attractions within walking distance including restaurants, shopping, even jogging/biking trails. All this can be found within walking distance.
• Amenities – A staggering list of Olive 8 amenities, including those shared with the Hyatt at Olive 8 Hotel.   The interstate is also just a few blocks away, and the Sound Transit station is just a couple block.
• Floorplans – Detailed floorplans of the Olive 8 units for sale.

So take a tour of our Olive 8 website and fill in your contact information at the Contact Us tab.  Specializing in the downtown Seattle condominium market since 1994, we at the Stroupe Group have participated in a number of condominium auctions and have helped our clients successfully close on their dream of a lifetime. Let us help you with your dream, too.

34 Luxury View Condos at Olive 8 going to Auction

34 LUXURY VIEW CONDOMINIUMS ATOP SEATTLE’S  HYATT AT OLIVE 8 CROSS THE AUCTION BLOCK IN UNIQUE FIRST-OF-ITS-KIND AUCTION.

The 34 condominiums located atop the posh downtown Hyatt at Olive 8 were previously priced from $395,000 to $1,235,000 with five of the 34 condominiums previously listed at over one million dollars each. Starting bids at the September 19th auction will range from just $160,000 to $440,000 with all five million-dollar-plus condos included in the bidding. With starting bids set so low, homebuyers have a unique opportunity to realize unheard-of savings on some of Seattle’s most desirable downtown digs!

Beverly Hills CA-based Kennedy Wilson is a recognized leader in the auction industry, conducting hundreds of real estate auctions across the U.S. and Canada each year. “Interest in Olive 8 has been high and is getting higher as we count down to auction day,” said Rhett Winchell, president of KW Auction Group. “Olive 8 is Seattle’s first sustainable condominium/hotel and has much to offer residents in terms of luxury living and an environmentally-friendly lifestyle,” continued Winchell. “What makes the upcoming auction extra-special is that bidders can gain entry to this desirable lifestyle while realizing huge savings on the purchase price.”

The one- and two-bedroom condos at Olive 8 provide up to 1,586 sq ft of living space atop one of Seattle’s most impressive hotels, the Hyatt at Olive 8. Residents enjoy a host of shared five-star amenities including room service and housekeeping, fine dining at  Urbane Restaurant & Bar, health and relaxation at Elaia Spa, and the Hyatt’s saline pool, jacuzzi, fitness center and yoga studio. Exclusive residents-only amenities include a 24-hour concierge, access to the Club Lounge and its beautiful outdoor terrace, billiards and entertainment rooms, and a dog run.

Interiors reflect the sumptuous lifestyle residents of this premier address expect and demand. Rich hardwood flooring, towering ceilings and expansive glass walls frame spacious rooms enhanced by natural stone, marble and granite accents. State-of-the-art kitchens are a gourmand’s paradise featuring Italian-designed Pedini kitchen systems and cabinetry, Liebherr stainless steel or integrated refrigerators, and top of the line fixtures. Luxury detailing extends to elegant and inviting bathrooms offering deep soaking tubs, stone floors, shower and tub surrounds, and high-quality Kohler faucets.

Olive 8’s premier location in the thriving heart of downtown Seattle offers residents a host of appealing dining, shopping and entertainment options just steps from their front doorway. The 34 condominiums up for auction are situated between the 18th and 26th floors (inclusive) of the Hyatt Hotel at Olive 8 hotel, and provide unmatched views of Seattle’s exciting city skyline, the area’s plentiful waterways, and nearby snow-capped mountains. The building itself bears the distinction of being Seattle’s first “green” condominium/hotel with a LEED Silver Certification. Designed for both today’s realities and tomorrow’s possibilities, Olive 8 represents the ultimate refinement in sustainable luxury. Five-star living at an extraordinarily affordable price: bidders can make it their own on September 19th!

Successful bidders at the auction at Olive 8 can choose from a range of excellent financing programs offered by Bank of America Home Loans and Wells Fargo Home Mortgage. Auction day purchasers are also eligible for a SPECIAL INCENTIVE. Under the terms of this incentive, buyers who obtain financing through Bank of America Home Loans and Wells Fargo Home Mortgage and who close escrow within 45 calendar days of the auction will be credited $5,000 towards non-recurring closing costs (based on lender guidelines) by the Seller at the close of escrow.

Kennedy Wilson’s first-of-its-kind auction for 34 luxury view condominiums at Olive 8 will begin at 1 p.m. on Sunday, September 19th at the Hyatt at Olive 8, 1635 8th Avenue, Seattle, WA 98101. Registered participants are advised to arrive no later than 12 p.m. (NOON) for the auction which will last approximately 1 hour. It should be noted that auction-day registrants will be limited to the purchase of one home only.

Kennedy Wilson invites registered bidders to a “How to Buy” informational seminar taking place at the Hyatt at Olive 8 on Sunday, September 12th beginning at 1 p.m. The seminar gives new potential bidders a chance to familiarize themselves with the auction process, while those who have previously attended auctions can enjoy a relaxed and informal refresher course. As always with Kennedy Wilson’s popular “How To Buy” seminars, the highlight will be an exciting live practice auction hosted by an actual Kennedy Wilson auctioneer.

To learn more about the September 19th auction at Olive 8 and to learn about bidding from the comfort of your home or workplace, please visit the Olive 8 Auction Information Office at 737 Olive Way, Unit 2702, Seattle, WA 98101. The office is open daily from 11AM to 6PM and further information is available via the auction website at www.Olive8Seattle.com

ABOUT KENNEDY WILSON

Founded in 1977, Kennedy Wilson is an international real estate investment and services company headquartered in Beverly Hills, CA with 21 offices in the U.S. and Japan. The company offers a comprehensive array of real estate services including property and asset management, brokerage and auction services, and construction and trust management. Through its fund management and separate account businesses, Kennedy Wilson is a strategic investor and manager of real estate investments in the U.S. and Japan. For further information on Kennedy Wilson, please visit www.kennedywilson.com

Olive 8 Receives More Time to Establish Value

With the recent announcement regarding a $90 million load by U.S. Bank to Olive 8, the condominium project is being allowed two years to adjust while the market recovers by renewing thier construction loan.

Full press release:

U.S. Bank Leads Syndication of $90 million Loan to Olive 8, Providing Financing for Green Downtown Seattle Condominiums

Two year extension of construction loan is a ray of hope in today’s market

(Seattle) December 14, 2009 ― Long-time Seattle developer R.C. Hedreen Company has received a crucial renewal of its construction loan for up to two years for Olive 8 through a $90 million loan syndication led by U.S. Bank.  At a time when many regional projects are at a standstill and unable to secure financing, this loan renewal helps Olive 8 earn its distinction as an urban and sustainable condominium project that has been able to move forward as planned while continuing to be a desirable option for buyers.

Olive 8 is Seattle’s first Leadership in Energy and Environmental Design (LEED) Certified (Silver) hotel/condominium building.  Hyatt at Olive 8 occupies the first 17 floors with another 22 floors of luxury condominiums above.  Of the 229 condominium homes, 51 have closed.  A wealth of new research indicates green building is forward-thinking, offers many long-term financial benefits and is an investment that pays off in terms of lower energy and water bills, as well as healthier indoor air.

R.C. Hedreen President David Thyer says, “As the developer, it’s not unexpected for us to think Olive 8 is unique and will hold its value in the long-term.  But the extension of this loan syndication led by our long-time partner, U.S. Bank, reinforces our belief that this hotel/condominium combination in the heart of Seattle is a project with a strong future.  We see it as a very positive sign in what has been a slow and challenging market.”  Olive 8 was designed by the internationally acclaimed New York City firm Gluckman Mayner Architects in partnership with local architect, MulvannyG2.

Minneapolis-based U.S. Bank’s history of doing business with R.C. Hedreen dates back 15 years, with a variety of projects being financed over the years.

“We are proud to be involved with the construction of Olive 8, which shares our commitment to quality and environmentally-sound business practices that help sustain our resources and the environment,” says John Swanson, senior vice president in commercial real estate at U.S. Bank. “Also, this a shining example of the fact that U.S. Bank is a strong leader within the banking industry, and that we continue to make loans and provide financing to projects like Olive 8, even in this difficult economy.”

Due to its sustainable design and construction, which includes one of the largest green roofs in Seattle, Olive 8 is expected to use 23-percent less energy and 36-percent less water than a comparable non-green building.  It is the first building in Seattle to participate in King County’s Transfer of Development Rights program; in exchange for higher building rights, R.C. Hedreen paid nearly one million dollars toward the preservation of 284 acres on Sugarloaf Mountain in rural King County, as well as vital salmon habitat. The carbon footprint of the Olive 8 building will soon be reduced by 21-percent when Seattle Steam Company, which provides heating for the hotel, will begin using mostly biomass as fuel instead of natural gas. Olive 8 also features preferred parking spaces for highly fuel-efficient vehicles and outlets for electric cars in the underground parking lot.

Olive 8 – Unit and Amenity Photos: Blue = the New Green

We popped into Olive 8 on Friday after their buyer event the day before.  It was nice to finally see the finished product after going through and taking construction photos late last year.

Units seem to look much bigger when staged/vacant as opposed to having ladders, boxes, and saws everywhere.  Probably one of the most noticeable differences was the high ceilings.  Leslie Williams of Williams Marketing pointed out several other small details that she said many buyers really liked, such as the tiling around the tub plus the lights above the tubs and under the cabinets.

Leslie also made sure to point out the size of the private decks, which are very comfortable in size–plenty of room for creating an outdoor sanctuary to enjoy sunsets & wine.

Another unit that turned out really well is the open 1 bedroom.  

There are of course more resident amenities that are shared with the hotel.  The spa seemed somewhat busy, so we didn’t get more than just a cool picture of the sign…

The fitness room is actually more than three times bigger than what’s shown in the photo below.  To the left is a wall where there’s another large area for aerobics/yoga/stretch area.

…and now for the best part– the pool!  No, we didn’t stick our heads in to see what the underwater stereo system sounded like, but the actual came pretty close to the rendering.

Overall, the newly completed project looks very good!

New Olive 8 Photos

We were sent an update on the progress of Olive 8–Seattle’s first LEED hotel/condo building.  With construction moving right along, finishing touches are being made to the rooms and meeting spaces of the Hyatt which will open in mid-January.  The first part of the green roof on the fourth floor podium has been laid, with the installation of the main portion ahppening at the beginning of January.  The installation of the remaining green roof involves 700 planters weighing approximately 160 pounds each.

As you can see from the photos below, the spa and fitness level that will serve both hotel guests and condo residents is coming along as well.  The roll-out of all 229 condos will occur throughout the first half of 2009, with the first buyer closings set for February.  The presentation center will move to Olive 8 and the completion of a model unit will occur during this time as well.

Here are some of the photos that were emailed to us earlier in the week:

Olive 8 or Four Seasons? Which would you choose?

Although we don’t have the finished photos of Olive 8’s penthouse, we’re having a little spat in the office about which one we would buy if money was no issue.  So, we would like to hear what you have to see based on the floorplan and view photos shown below.

Click the floorplan to enlarge, and cast your vote.

Olive 8 Floorplan and Views

Four Seasons Floorplan and Views

To make sure we handle our dispute fairly, please only select ‘other’ if you know of another comparable downtown Seattle condo you would rather take other than two here.  Let the games begin!

To “Seattle FTV” on SkyscraperCity Forum

Unfortunately we haven’t logged into the SkyscraperCity.com forum for some time, so out account has been disabled.  But we wanted to take a moment to address the issue of hard hat tours mentioned by a frustrated buyer on the popular skyscraper discussion board regarding Olive 8 and recent photos taken.

The question was:

am i wrong in being ticked about not letting us future owners in to show us around? they’re letting this agent all over (even on the freaking roof!) and in 2.5 yrs they’ve given us one shot in the building…

LAME. fire codes my butt.

last time i ever buy something through Williams Marketing.

Dear Seattle FTV,

We just wanted to let you know how we got into Olive 8 to get those photos in mention, and how you can do it too if you like. I think they’re a really great sales team over there (unlike the futile efforts I’ve had trying to get into a few others), and would work with you if you were very interested in taking a look.

So here’s the skinny on fire codes.  The fire department doesn’t want these new construction sites doing hard hat tour “events” because of OSHA rules.  However, individual tours are ok which is why I’ve been able to get into Olive 8, ESCALA, and the Four Seasons.  Still pushing for 1521, Veer, ENSO, and Rollins but it’s really difficult.

Anyhow, point is they give a few tours a week to those who are helping them market the property, potential buyers, and existing buyers.  However, I had to bug them persistently about it for approximately 2 months.  Apparently their time is limited, so it took 3 personal visits and more than double the amount of emails recognizing thier time before I finally got a day and time that had to be rescheduled for another day and time.

In addition, the photos we took have received over a 1,000 views in the last 2 days, so there’s some marketing benefit to them.  Tours also have to go through a process of approval and Leslie Williams has been a good business acquaintance for several years.

But, everybody at ESCALA and Olive 8 have been wonderful and I’m sure if you just gave Olive 8 a polite nudge they’ll work something out.  It’s just important to recognize that they’re very busy and tours also have to be worked out with all workers from the sales team, to the developer, to even to the guys working the elevator.

Finally, out intention was to get those photos taken so those wise individuals who have bought (or are considering buying) at Olive 8 can see how everything is coming along.

[polldaddy poll=1062905]

Olive 8 $7.5 Million Penthouse Floorplan

This is (will be) one of Seattle’s most prestigious condos with approximately 4,500 square feet and southern, western, and northern views from one of Seattle’s tallest residential towers.

VIEW NEW CONSTRUCTION PHOTOS OF THE UNIT

New Construction Penthouse Photos for Olive 8: October 2008

It turned out to be another beautiful day for taking photos, just like the day we toured the Four Seasons.  We seem to get lucky when it comes to scheduling tours considering the time of year.  Anyhow, here are some photos of condo units at Olive 8.  Generally, I like to save the best for last, but I thought I’d start with the best first.  The best is of course the 2 combined penthouses on the top floor.  Originally designed for the developer himself, the unit is approximately 4,500 square feet, offers panoramic southern, western, and northern views, and can be yours for only $7.5 million.  Truly one of the most impressive downtown Seattle area condos we’ve ever seen.

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