Madison Tower/ Hotel 1000 was Seattle's first hotel/condo project completed in 2006. Fourty-seven homes sit above the Hotel from the 15th level to 24th floors. The building is located between Pioneer Square and Pike Place Market on the corner of 1st Ave and Madison St and occupies a quarter block.
There are five homes on each floor with the exception of the penthouse. The 00 and 01 floor plans are west facing and offer the most optimum water views.
00 Floor plan Two bedroom 1980-3,010 sqft. NW
01 Floor Plan Two bedroom 1,562-3,740 sqf. SW
02 Floor plan Two bedroom 1,444 sqft. SE
03 Floor Plan One bedroom 805 sqft. E
04 floor plan One bedroom 877 sqft. NE
Click here for the floor plans.
Unlike Olive 8 and Four Seasons hotel/condo which have separate lobbies for the condo residences, the lobby for Madison Tower has a single lobby for both owners and hotel guests. Update: Blaine Weber, the architect, points out that there "are separate and distinct elevators for the residential portion of the tower accessed only from the exclusive residential lobby, not accessible by hotel guests."
Besides the spa, gym, business center, room service and housekeeping amenities, Madison Tower also has a virtual golf course room which is kind of unusual and not available in other hotel/condo buildings. Residents have access to the rooftop deck which is for their exclusive use only, making it really private. There is also a 24-hour valet service to park or bring out your car from the parking garage.
Update: Another comment from Weber, "the valet situation is unique to this project and definitely not for everyone, but almost every homeowner that I have spoken to loves the ability to drop the car curbside, throw the keys at the doorman, and enter straight into the building as opposed to circling several ramps and entering through the garage."
Overall, Madison Tower is a boutique style hotel/condo project that offers comprehensive amenities on a smaller scale. It feels more exclusive than 2200 Westlake and Olive 8 and without the steep price tag of Four Seasons.
Madison Tower/Hotel 1000 photos
My Thoughts on Four Seasons
Four Seasons Gets Loan Extension
Four Seasons Hard Hat Tour
Four Seasons Update
Million Dollar Cashmere
Olive 8- Green Roof
Olive 8 Update
Olive 8 Hard Hat Tour
Olive 8 Update- Price Guarantee
Madison Tower is an OK property. The main problem I see is that a well known local speculator snapped up a bunch of the condo’s and has been trying to sell them at inflated 2007 era per square foot prices for at least a year.
Recently prices in this building have started to come down but are still over market price.
e.g. the penthouse has been active on the MLS for over 600 days and has gone down from $13.5m to $8.7m in just four months. Most of the other stock is just sitting there – in fact I can’t find any recent sales in this building.
A regular condo at Madison Tower isn’t worth more than $700 a sq ft when you compare it to newer buildings like 1521 or Olive 8. $1200 a sq ft is just insanity. Those sellers need to realize it is 2009, not 2007.
Unit 1502 has come down from $1.325m last year to $930k, and is now $646 sq/ft. That’s getting closer to a realistic price for Madison Tower.
1702 and 2202 are identical units but are still above $1000 a sq/ft despite price cuts. Those buyers overpaid and given the glut of inventory in this price range, they are out of luck. 2202 paid $1.26m in 2006 so they are dreaming if they think anyone is going to pay $1.4m in 2009.
The lack of parking in this building made it a non-starter for me. Waiting for a valet and paying a tip every time you get your car would get old real fast, not to mention the occasional drag race in my nice car. It might be fine if you didn’t drive much.
Totally agree. The parking setup was a deal killer for me as well. Beyond that those 02 units face east towards a steep hill. Its a pretty lame view compared to what else is out there.
Hi Wendy –
As the Architect for this project, please allow me to correct a couple of points. There is indeed, a distinct and separate residential lobby with an exclusive concierge located off the main lobby/entry. So, while it is accurate to say that it is different that Four Seasons or Olive Eight [both with VERY elegant, functional lobbies, BTW] it is misleading to suggest that the residential lobby @ Hotel 1000/Madison Tower is shared or combined — there are separate and distinct elevators for the residential portion of the tower accessed only from the exclusive residential lobby, not accessible by hotel guests. The other correction is relative to parking — the valet situation is unique to this project and definitely not for everyone, but almost every homeowner that I have spoken to loves the ability to drop the car curbside, throw the keys at the doorman, and enter straight into the building as opposed to circling several ramps and entering through the garage. Don’t quote me on this, but I am quite certain that there is an understanding that homeowners are not obligated nor expected to leave tips, although some do. Its not for everyone, but it is cool in a New York sort of way. I enjoy your blog.
Thanks Blaine! Updated the post.
For the record, I think Madison Tower is a nicely designed, great looking building with some cool exterior and interior touches. Those Color Kinetics LED’s on the sidewalk and inside get me every time. Blaine did an excellent job.
Unfortunately as a condo property Madison Tower got caught up in the rampant speculation of the period, and as a result the prices are now way over market. They have already started to adjust however, so there could be some good buying opportunities there during the summer.
I imagine the Madison Tower developers are breathing a sigh of relief they aren’t in the situation facing properties like Escala and Olive 8 right now, where they have an empty building and many of the buyers are having second thoughts or are simply unable to close.
I moved to Seattle last summer and rented a unit in Madison Tower. I really like the concierge and valet parking staffs. They have always been very friendly and courteous, never expected a single penny from you. I also enjoyed the car being parked by valets all the time. You just park the car in the residential parking level and leave, just call ahead of time before you need the car and it will be there for you. I cannot be happier.
Where can I find a copy of the 03 or 04 unit floorplan? Link will be fine. Thanks.
The floor plans are attached in the post : )
If anyone knows of any 1BR rentals that might be available 6/30/09. shoot me an email.
I rented here until recently and it wasn’t so great. The shared entry with the hotel became a big issue for me, especially with a lot of hotel guests hanging around the front and people coming and going from functions and BOKA. The hotel guests don’t know there are condo’s upstairs and you get this weird vibe when you walk in with your shopping bags or in workout clothes. I walked in with a lady friend once and a drunk guest verbally implied she was a hooker. I had to restrain the urge to punch the guy.
The prices they are asking for these condo’s don’t make any sense. I saw the interior finishes on several and they are way below the current standard in Seattle.
I will say it’s a fairly quiet location, even with the hotel and bar downstairs. During the winter it was mostly a ghost town. I assume most of the condo owners live out of town?
Ultranate, thanks for the real-life input on living there. I’m still trying to figure out where I should rent downtown.
For you or anyone else, would you prefer to live at Madison tower, Cristalla, Olive 8, or Olivian?
i’m a single young professional
I have lived at the Cristalla. It was built by Murray Franklyn and that company is the same builder that built the Cristalla. I would choose the Cristalla because of the style, concierge service, location, in fact if you’re able, I would buy a unit there.
The prices have dropped back to 2005 prices. It is one of the only buildings downtown that has bought ‘Air-rights” so a water view is protected. As this market gets better a protected water view will be a good investment.
Prices at Madison Tower are starting to come down. 1502 sold recently for $550 a sq foot (a 36% decline from 2008). 2104 has been discounted nearly $200k recently. I suspect the speculator holding on to a bunch of units must be nearing the end of the road as well.
The main problem is the building doesn’t qualify for FHA. Several sellers are offering their own financing, which is always a sign that they are keen to sell and would probably take a lowball cash offer. Keep an eye on it as I think in a few months it might be possible to pick up a real bargain at Madison Tower.
My only other concern would be the stability of the company running Hotel 1000 in this economic environment, since it’s not clear how the building would operate if they went under.
Hi All — Having lived in Madison Tower for a couple of years, I thought I’d clarify some of the statements made above. We love living here. Many of the residents have second homes, so the residential entrance, rooftop deck, and elevators are rarely busy. The situation is similar with the hotel’s great fitness center and computer golf system — rarely used by either hotel guests or residents. The parking has not proven to be a problem — we call ahead 10 minutes or so and our car is waiting on the residential parking level. We can drop it back off with the valets or park it at that residential level through an alley way — we always do the latter. Over time the valets and the concierges have become like family — greeting us warmly upon our return from frequent trips and helping out when asked (ie, might I have left the water running?/the stove on?, etc.). And the location 4 blocks south of Pike Place and 4 blocks north of Pioneer Square is much less busy than those two locales — and 2 blocks from the Bainbridge ferry and 2-3 blocks from the light rail and virtually every bus passing through downtown (and walking distance to the stadiums) means we rarely take our car out. If there is any downside, it is that all of this great living atmosphere gets factored into the monthly HOA — but if you can afford that level of HOA, we believe you’ll love it here!