Luma, the new construction condo building on First Hill, has released it's unit specific pricing. You can access those on their website, liveluma.com via the floor plan finder tool.
Below are some other details about Luma that we learned since visiting the sales center with our clients.
- On June 1st the sales process will start- they will not be taking any reservations prior to that
- They will have a one page form for buyers to indicate their top choice(s) for units and that form is due to the sales center by June 1st (they will be sealed and not until June 1st)
- If you’re the only one with interest in a specific unit, you will be notified of this and the unit will be yours to purchase and you will go directly to purchase and sale agreements (contracts) at that time
- If there are multiple people interested in the exact same unit once they open up the sealed forms, there will be a process to resolve that though the sales center didn’t indicate what that exact process looks like quite yet
- Those that come after June 1st, it will be first come first serve and straight to purchase contract on the remaining units
- 5% Earnest deposit will be required
- Financing contingency for 30 days to allow buyers to confirm and secure their financing with a lender
- 1 parking and 1 storage per home
- Preselected color palettes are spread throughout the building - there are 3 different color palettes, Cloud, Espresso and Slate, and those are now listed for each unit on the website
- Building is going for Leed Silver
- A few electric car charging stations will be provided to the building in general, and individual owners will most likely be able to pay for an upgrade to have one installed in their parking stall
- HOA dues are being set at approximately $.60/sq ft.
- HOA dues include garbage, sewer, natural gas for stoves – water will be metered separately per unit NOT included in the HOA
- The per floor premium is $10k per floor over the identical unit below
- Floors 6-17 are identical floor plates
- Floors 18-22 are identical floor plates
- Marble counters
- Bosch range and Samsung refrigerator
- Gas cooktops
- Soft close cabinets
- Waterfall option on counter’s edge in kitchen (must be selected right away with purchase and sale agreement no later than June 6th for this upgrade option)
- Countertop option in the kitchen (must be selected right away with purchase and sale agreement no later than June 6th for this upgrade option)
- Several blinds option upgrades including an option for electric Lutron shades
- Closet systems option upgrade package
- Chefs kitchen package that will have custom pullouts in the kitchen
- Wood wrapped around vanity and accent paint options for bathrooms
- Any upgrades will be pre-paid to builder directly, and cannot be wrapped into the purchase price- paid separately and non-refundable
If there is a specific unit layout, view or price point you are eying or a particular color palette you are desiring, sometime between now and June 1st, you should plan to check out the sales center, sift through the options and make a selection or two of the units you are most interested in and submit those selections by the 1st. If you don’t want to be involved in that process, then you can wait until after the June 1st sales kick-off, see what units are left with your criteria and make your selection then. It gives all of the potential buyers the same amount of time to check everything out and make decisions on unit selections. As always, our team is here to help buyers through the condo buying process who might not yet have their own broker representing them.
By Marco Kronen with Seattle Condo Review: A guide to Seattle downtown condos.