I sometimes post on a real-estate blog run by a local realtor. I enjoy reading her blog but I have to say I often disagree with her about her assessment of downtown condos. As a person who has been living in downtown for a while as well as having lived before in Manhattan and other major cities, this is how I would score the buildings around me. I absolutely do not agree that having a hotel as part of a condo automatically makes it better. Condo-hotels get run down faster and can lose value quickly.
Bentley- Ultra high end
Four Seasons
Mercedes S Class- Luxury condo
1521, Madison Tower
Mercedes E Class- Mid luxury condo
One Pacific Tower, Escala, Olive 8
Mercedes C Class- Entry level luxury condo
2200, 5th and Madison, Cristalla
Toyota Avalon- Upscale commuter
Concord, Cosmo, Mosler Lofts, Parc, Ellington, Avenue One, Gallery, The Vine, Pomeroy
Toyota Camry- You can pimp it but it's still a Camry
Lumen, Trio, Any 5+2
6 comments:
Great post! Great blog also.
Let me get check out the Kelly & NADA books to see how they'll depreciate over time. ;o)
Bentley - Four Seasons
Mercedes S Class - Escala, Enso 1521, Madison Tower
Mercedes E Class - One Pacific Tower, Olive 8
Mercedes C Class - 2200, 5th and Madison, Cristalla, Palmeroy, Concord, Mosler Lofts, Rollin Street, Continental Place (hopefully with some upgrades)
Toyota Avalon - Parc, Ellington, Avenue One, Gallery, The Vine, Veer Lofts (you really can't put Intracorp with Murray Franklyn)
Toyota Camry - Lumen, Granview, Royal Crest, Seattle Heights, Harbor House, Bay Vista
Geo Metro - Trio, MoDa, Belltown Court, Cabon 56
Dunno,
WOW! I'd have to say I agree with you on almost every condo-to-car analogy you presented. I'm a "hard sell," so to speak, but right on!
Although I would have to make a couple of adjustments if it were me posting. I would probably bump up Four Season to be represented by a Rolls Royce (you know, old money, not very sporty, stately, ultra high end), and 1 Hotel & Residences as a Bentley as this project is actually positioned even higher than 1521 and definitely nicer than Madison Tower. I actually find 1 Hotel with higher end, more expensive finishes than Four Season. But, its "sportier" and more contemporary than Four Seasons and but not quite as expensive as a Rolls. :-)
I am just curious to where you would rate Veer, Rollin Street, and Enso?
It's been a while since I visited the SLU center. If there are enough requests (or bribes,) I'll think about swinging by again to review the condos. I admit that I am not as fond of SLU as downtown or Belltown. Vulcan seems to charge downtown prices for their condos now with the promise that SLU will be like downtown in the future. I will believe that promise when I see it.
1521 and 1 hotel & condo are definately better than madison tower. in fact, they have better finishes than four seasons although the price is much lower. downtown guy, i wonder why you think 1 hotel condo is more luxurious than 1521. the price for 1521 is lower because the developer has owned the land for a very long time whereas other developers in the area had to purchase the land at a very high price. it is a plus, not minus. if you compare the finishes, 1521 and 1 hotel are quite comparable although 1521 has better washer and dryer. i care less about the amenities as long as it's got 24 hour concierge and a nice lobby for a condo. 1521 is one of few condos in seattle that was built by those who know what urban living is.
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