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Equinox returns Earnest Monies, Converting to Apartments

August 13, 2009 by  
Filed under Featured

An Equinox buyer has expressed their relief followed by a sigh when sharing with us that they’ll be getting their earnest money back. There’s supposedly a letter being sent to notify buyers officially, but our source claims to have not yet received it. However, we’ve heard additional confirmations elsewhere.

Equinox, with its “off the beaten path” location, will now convert to apartments. Sales were extraordinarily slim even before we were officially in a recession.  Did location have something to do with it? We’ll see how the apartment rentals go.

Big Week for Downtown Real Estate – Buyer’s Moving Off the Sideline

February 12, 2008 by  
Filed under 1521, ESCALA, Gallery

Dean Jones with Realogics (award-winning marketing catalyst for residential and mixed-use real estate) informed us of some great news regarding new construction sales. News and media headlines have sidelined buyers this season and new construction sales are generally not accounted for in Seattle’s NWMLS pending and sold statistics. So here’s the inside scoop:

  • 3 homes have already sold at 1521 for an approximate $3 $9 million.
  • There has also been a number of sales made for GALLERY.
  • Equinox chalks a sale.
  • Escala still consistent in sales.
  • Bravern in Bellevue has also made an approximate dozen sales just over the weekend and they’re booked with appointments all month.

However, Dean also informed us that credit and construction costs require new construction high-rises to be priced in the $850 to $900 per square foot to pencil. Hint: an exception may be AVA.

new construction sales chart by realogics