Four Seasons Private Residences Restructures Debt

The Four Seasons Hotel and Private Residences located in Downtown Seattle was facing financial troubles after having nearly $34 million in construction liens, defaulting in 2009.  These troubles were much in part due to slow sales when the Seattle real estate market was beginning to fall apart.  The building opened in 2008 with 36 residences, which range in price from $2-$10 million.  According to a Seattle Times article published today, the owners of the building, Seattle Hotel Group LLC, have dug themselves out of this hole with financial restructuring.   Last week, the Seattle Hotel Group received a loan for $26 million towards the debt, owed to Washington Real Estate Holdings.  For now, things are looking up for the ultra luxurious downtown Seattle condominiums.  There are eleven residences still for sale in the building.  Please follow the link to see one of these luxury condominiums full listing details and photos.

Luxurious Cristalla Condo-RENTED

This Condo unit is located on the 22nd floor of the luxurious Cristalla building, this furnished 1 bedroom 1 bath unit features amazing views of the city and water right from your living room, bedroom, and private deck. Features include hardwood floors, granite counters, built in fire place, washer and dryer in the unit, and parking in the secure garage. Building features are endless with spa, sauna, roof top park, and movie theater! This unit is located in one of Seattle’s most sought after buildings in Belltown.  To see other luxurious units available for rent, please click on The Marlborough Apartments.

Status
Rented
List Price $2,500
Bed/Bath 1,1

Luxurious Cristalla Condo-RENTED

This Condo unit is located on the 22nd floor of the luxurious Cristalla building, this furnished 1 bedroom 1 bath unit features amazing views of the city and water right from your living room, bedroom, and private deck. Features include hardwood floors, granite counters, built in fire place, washer and dryer in the unit, and parking in the secure garage. Building features are endless with spa, sauna, roof top park, and movie theater! This unit is located in one of Seattle’s most sought after buildings in Belltown.  To see other luxurious units available for rent, please click on The Marlborough Apartments.

Status
Rented
List Price $2,500
Bed/Bath 1,1

Classic Style Home-RENTED

This wonderful three story Classic home features a full basement, large formal living room and huge dining room with French doors. The second floor has three large bedrooms and the third floor is a huge room with a 3/4 bath, so may be used for separate living quarters or a great teen retreat, wonderful playroom. Sited on a tree lined street in Ravenna, and a short walk to the “U”, buses, close to the freeways.  It didn’t take long for this beautiful home to rent. To see more luxury rentals, click here.

Status
Rented
List Price $2,700
Days on Market 5

Twin Tower Apartment Complex Breaking Ground Soon

In our last blog, “Seattle Rental Market Is Hot”,  we touched on how the rental market is picking up and a lot more individuals are deciding to rent. Further truth in that the rental market is hot can be shown in the soon to be ground breaking construction of the Sixth & Lenora Apartments.  According to Eric Pryne of the Seattle Times, “The two-tower, 24-story Sixth & Lenora Apartments is the latest — and largest — entrant in what has become a race among developers to meet growing demand for in-city rental housing that they expect won’t abate soon.” Please click on the link above to learn more.

Seattle Rental Market is Hot

Seattle Apartment

Market is Hot!

It’s great news if you are landlord and not if you are in the market for a Seattle rental.  The article, Hot Apartment Market Settles in For a While, in the Seattle Times gives the details about what is going on with the Seattle apartment market.  Basically with less people owning their homes, whether they are scared to buy (debatable per the article), they lost their home, or if they are just moving here and do not want to commit until the experience Seattle, the demand is going up for Seattle apartments.  And that applies to the luxury rental market as well.  For example, The Bravern, the Bellevue 440+ unit building that was converted from condos to apartments, is already half full even though not all the units were on the market until this past October.  In addition, the supply of rentals is increasing slowly since there are not as many apartments being built as there were in the past.  According to the graphs on the article (see picture 3 of 3) vacancy in King county apartments is down to 4.3% from 6.8% two years ago.  In the same time period, average rent has gone from $1,015 to $1,045.

To get more details, read the article by clicking the link above.  It is interesting article if you are looking for a Seattle apartment or if you are a landlord.

Three Bedroom/Three Bath Penthouse- AVAILABLE

This three bedroom unit features vintage architecture, amazing Seattle skyline views, stainless Bosch appliances , full size washer/dryer, pantries, larger formal dining rooms, large Butler’s pantry with glass enclosed cabinets, true foyer, functional entry hall and generous storage. Master bedroom is large and has fully tiled bathroom with tub, walk-in shower and distinct prep area. This rental is available for $5,790 and you can click on the link to learn more about this Beautiful Three Bedroom unit.

Queen Anne Townhome- AVAILABLE

This beautiful townhouse is located on Queen Anne and offers sweeping views.  The townhouse has an open floor-plan and is complete with a sophisticated style.  This home features slab granite counter tops, stainless steel appliances, two gas fireplaces, sundeck, hardwoods and much more.  Click on the link to get more details on this Stunning Queen Anne Townhouse.  This home is currently for rent at $2,995 unfurnished and $3,495 fully furnished.