4217 Fremont, a boutique condo with only 6 units total started selling earlier this year. Surprisingly, the penthouse went off the market first.
Say what you will about the pricing, this is probably one of the most unique projects in Fremont. Featuring all two bedroom units, the homes range from 1,170 to 1,366 square feet. I took a look this week and of the remaining units, unit 4 seems to have the most interesting layout. At least one of the ground floor units has a nice patio out back but somehow I didn’t feel entirely safe based on a few articles of discarded clothing that was in the corner by the stairs (unclear if it was left by the construction crew or someone else).
A few things about this condo:
The project started their pre-sales effort in 2004, however, the developer had a few projects going on and decided to put this condo on hold. After more than 1 year of no construction, they started on the construction again and completed it in 2007.
Looking at the layout, finishes and size, this is could be the ideal affluent bachelor pad for someone looking for a more modern, edgy and spacious layout in a central location. Higher end Viking appliances and trendy glass cabinets grace the kitchen as well as really nicely done bathroom finishes. With the road a bit noisy for the front facing units, the central air conditioning will probably come in handy for this building.
One other super cool thing is the private and direct elevator access to the units on higher floors (you insert your key to unlock your exclusive button on the elevator and walk straight into your unit when the elevator door opens).
Even for this neighborhood (despite being next door to the wonderful Cuban sandwich shop Paseo), the price they are asking for this condo still seems high. Even though a lot of the smart money is betting on Fremont as an area for strong growth, the price per square foot for this project is in the same range as new construction in Belltown and Queen Anne.
4217 Fremont slideshow
Technorati Tags: 4217 Fremont condos, Fremont condos, Seattle Real Estate
I took a look at this one too. I love the private elevator and great location but agree it’s priced about 15% over where it should be.
I agree, you can get more for your money within a mile radius from 4217 Fremont.
I wonder what they’re waiting for. Seems like if they priced it right (20% less), the units would ge snapped up fast since they are pretty unique homes.
Hi Wendy! Nice blog, thanks for all the great info! It’s been an year since your post on 4217; do you feel the price is the only thing holding these units in the market? (there seems to be a resale now too!)
Yes, price is still the main reason that these units are still on the market. The developer doesn’t seem to be motivated to sell the condos.
I think some people might also have security concerns – at least for the ground floor units. I also found the bedrooms to be on the smaller side. All of this suggests they need to knock down the prices 20% to get some buyers. The resale is suspicious too, that unit was only occupied for a few months and now they’re selling…
Yes, I agree. With Paseo right next to the building, it is a pretty high traffic area.