I love a good real estate drama. Today I took a tour of Carbon 56, a condo building in the South Lake Union neighborhood. Lots of great articles have been written about the condos (Urbnlivn and Ben Kakimoto wrote my favorites). The building was originally the Aristo Apartments, then was converted to condos in 2007. The real estate market took a dive, and the developer couldn’t sell all of the units, so he turned the un-sold units BACK into apartments.
About a month ago, Carbon 56 started rolling out units for sale. According to the listing agent, the developer is no longer actively renting units, all currently rented units have leases that expire on or before July of this year, and 43 of the 56 units are sold or pending. Units range in price from $329,500 for 667 square feet to $499,500 for 1,067 square feet. The condos are all semi-open one bedrooms and have great floor to ceiling windows and a industrial, modern design. There are few amenities (only a small gym), but with HOA dues at $0.43 a square foot, it is a fair trade-off.
The model home looks great:
Please note the photo of Mary Lambert in bathroom. Very strange. I had to tweet the photo out to Mary, and in her classic dry humor, she tweeted back “I think I finally made it”.
And here is what the condo looks like without all the staging:
Let me know if you want the tour, I’d love to take you 🙂