I first heard of 1521 2nd Ave two years ago. Then, for some reason, I forgot about it and never followed up until much later. Was I unconsciously intimidated by the "priced from one-million dollars" plastered on their ads? Did I dismiss the project due to my perception of the shadiness of the location at the time? Was I more interested in their neighbors, the Four Seasons and Madison Tower? Who knows. All I can say is that I kick myself whenever I think about it.
Looking back, the advantages of the project should have been obvious. The condo sits on what I now consider to be the most prime location in the city. It's exactly between the retail core and Pike's Market. It is on the south end of Belltown in walking distance to most restaurants, Benaroya, and theaters. The transit hub is 2 blocks away including the monorail, light rail to the airport and the SLUT (yea, I said it.) I also like that it is on 2nd Ave rather than the more busy and congested 1st. 1521 has one of the few TRULY protected water views in the city (although you can never be completely sure.) The building sits just east of a plot of land that the development partner owns and will be an 8 story hotel. It has protected views facing west and north from agreements with buildings on the same block and Pike's Market beyond. There are a few issues. They are fighting about the height of the building just south of them and the southern view might be severely blocked. Other smaller buildings southwest on the same block can be raised around 20 stories. The neighborhood still needs improving with Show Girls next door, although I personally consider this an advantage.
The units are large even on the lower levels with at most 5 condos per floor limiting the building to 143. They start about 1700sq ft with no less than 2 bedrooms each. I heard that developers bought northeast corner 1973sq ft units. I consider this the best line considering the size and the northwestern ocean/eastern city view, although the northwest corner has been most popular. The showroom started the trend of large unit mock ups in Seattle and I was impressed with the quality. The finish is very modern with automatic blinds and clean lines. They strived for a "penthouse" trim on all the units and it shows with top level appliances and fixtures. The french aspen entry is impressive when seen. Indeed, there is no option to upgrade (no better to upgrade to) just to add; wine fridges, etc. Unfortunately, they include a "glassroom" instead of a balcony which is basically a room where the upper window wall can be completely folded out. You cannot grill in this space. The glassroom is also where most fireplaces are which I consider awkward. They require you to finish the master walk-in closet yourself. Although they give you a small allowance, it is not nearly enough to cover the cost and they limit you to California Closets which I consider a piece of junk.
Since they are a traditional condo, not a condo-hotel, they do not offer the same amount of services. That is not to say the amenities are poor. All the usual suspects are there including a 24 hour doorman/concierge, workout room, children's playroom, rooftop terrace and a porte cochere for spoiled women who don't want to get their purses wet (not you, hun.) This helps keep the HOD low around $0.50 per sq ft. You read that right; the home owners dues are less than half that of the Four Seasons and less by far than any other premium development in the city. Some buyers and realtors have argued that the lack of amenities lessens the quality of 1521. I have tried to reveal the foolishness of this belief many times. With the money you save on HOD you can join a large gym at Hotel 1 (exactly like the residents there) or go to spa at the Four Seasons a block away. I can hire a cleaning person myself and I have never liked any restaurant enough to go more than a few times a month.
That brings me to the final advantage of 1521. Although they advertise prices start at $1 million, they actually start around $900K with a number of units around the $1 million mark. If you consider how large the units are, you are looking at $500-$600 per sq ft for a good chunk of the condos they offer. Adding in the quality of the finishes included, the best word to describe how good a value (especially on lower level west/north units) you could have gotten here is, "insane." I say "could have gotten" because they are basically sold out. A few large units remain on the top floors. Ah, what could have been! Here are the scores; I follow the Zagat format.
Location: 27
Building/unit quality: 28
Amenities: 25
Cost: +$900k
http://www.1521second.com/
Looking back, the advantages of the project should have been obvious. The condo sits on what I now consider to be the most prime location in the city. It's exactly between the retail core and Pike's Market. It is on the south end of Belltown in walking distance to most restaurants, Benaroya, and theaters. The transit hub is 2 blocks away including the monorail, light rail to the airport and the SLUT (yea, I said it.) I also like that it is on 2nd Ave rather than the more busy and congested 1st. 1521 has one of the few TRULY protected water views in the city (although you can never be completely sure.) The building sits just east of a plot of land that the development partner owns and will be an 8 story hotel. It has protected views facing west and north from agreements with buildings on the same block and Pike's Market beyond. There are a few issues. They are fighting about the height of the building just south of them and the southern view might be severely blocked. Other smaller buildings southwest on the same block can be raised around 20 stories. The neighborhood still needs improving with Show Girls next door, although I personally consider this an advantage.
The units are large even on the lower levels with at most 5 condos per floor limiting the building to 143. They start about 1700sq ft with no less than 2 bedrooms each. I heard that developers bought northeast corner 1973sq ft units. I consider this the best line considering the size and the northwestern ocean/eastern city view, although the northwest corner has been most popular. The showroom started the trend of large unit mock ups in Seattle and I was impressed with the quality. The finish is very modern with automatic blinds and clean lines. They strived for a "penthouse" trim on all the units and it shows with top level appliances and fixtures. The french aspen entry is impressive when seen. Indeed, there is no option to upgrade (no better to upgrade to) just to add; wine fridges, etc. Unfortunately, they include a "glassroom" instead of a balcony which is basically a room where the upper window wall can be completely folded out. You cannot grill in this space. The glassroom is also where most fireplaces are which I consider awkward. They require you to finish the master walk-in closet yourself. Although they give you a small allowance, it is not nearly enough to cover the cost and they limit you to California Closets which I consider a piece of junk.
Since they are a traditional condo, not a condo-hotel, they do not offer the same amount of services. That is not to say the amenities are poor. All the usual suspects are there including a 24 hour doorman/concierge, workout room, children's playroom, rooftop terrace and a porte cochere for spoiled women who don't want to get their purses wet (not you, hun.) This helps keep the HOD low around $0.50 per sq ft. You read that right; the home owners dues are less than half that of the Four Seasons and less by far than any other premium development in the city. Some buyers and realtors have argued that the lack of amenities lessens the quality of 1521. I have tried to reveal the foolishness of this belief many times. With the money you save on HOD you can join a large gym at Hotel 1 (exactly like the residents there) or go to spa at the Four Seasons a block away. I can hire a cleaning person myself and I have never liked any restaurant enough to go more than a few times a month.
That brings me to the final advantage of 1521. Although they advertise prices start at $1 million, they actually start around $900K with a number of units around the $1 million mark. If you consider how large the units are, you are looking at $500-$600 per sq ft for a good chunk of the condos they offer. Adding in the quality of the finishes included, the best word to describe how good a value (especially on lower level west/north units) you could have gotten here is, "insane." I say "could have gotten" because they are basically sold out. A few large units remain on the top floors. Ah, what could have been! Here are the scores; I follow the Zagat format.
Location: 27
Building/unit quality: 28
Amenities: 25
Cost: +$900k
http://www.1521second.com/
2 comments:
FINALLY! Someone that does their homework before posting a bunch of drivel or nonsense about a particular project. This is one of the most comprehensive and HONEST project reviews I have seen in...can't remember how long. Thank you for that. I don't have too much to add, other than with regard to the views and location. Correctamundo...without a doubt, the best located project in the city. Across the street from the market, two blocks from the heart of the retail district, right above the bay overlookinn an historical district - ensureing no view blockage to the west [and by the way, there is a covenant that ensures that the future hotel on first Ave will be no taller than the first floor of the residential levels.] The project is pricey, but you get what you pay for.
PS. In case you might be wondering...yes, I am a buyer in the project, so forgive me if I seem a little over the top with excitment.
PSS. Keep up the reviews - wonderful and very entertaining!
Thanks for a good review. For somehow, some people believe that condos on top of the hotels are more luxurious than traditional condos mainly because of the amenities. I totally disagree with that. First of all, you still have to pay extra for the services you get from the hotel such as maid services, dining, spa, etc. Valet parking and gym membership are often included in the HOD but your HOD is much higher than traditional condos. If you're willing to pay all the extra, you can get even better services on your own. Hotels tend to get outdated pretty quickly. Look at Four Seasons in Vancouver. I would never live on top of that hotel although it's "Four Seasons" and I'm sure it was super luxurious 10 years ago or whenever it was built. 1521 is a solid traditional residential condo that is super luxurious in every single way. I have to say it's my favorite new development in Seattle.
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