Bellevue Towers, the region’s largest urban condominium project, was also the region’s best selling condominium project in 2011 at 144 homes closed and sold since January 1, 2011. With sales of $88,940,000 - double the volume of the closest, comparable project in the market – the cost for Bellevue Towers’ homes averaged $433 per square foot, representing the most attractive condominium value offered to buyers in the market. To date, the luxury, downtown Bellevue project has now sold a total of 263 homes and just this week sold two more $2 million plus homes.
“Rather than wait for market demand and pricing to return to pre-2008 levels, the Seller prioritized sales velocity and value for our buyers,” said Patrick Clark, principal with Realty Trust, the brokerage company marketing and selling the project.
Bellevue Towers’ remaining homes include studio and one-bedroom residences priced from the $300,000s, two-bedroom homes priced from the $600,000s, and spacious penthouses priced from $2 million. Original prices have been reduced on average by 30 percent, with a limited release of new homes reduced by as much as 40 percent from original pricing to generate strong momentum for the New Year.
“While sales at Bellevue Towers clearly outpaced all other projects in the region over the last year, we are confident that the opportunity to purchase a home for 40 percent or more off the peak of the market in the region’s fastest-selling condominium project will attract many more buyers in 2012,” said Clark. Unlike other projects throughout the region that have shifted sales strategies to include auctions or rental programs, Clark added that Bellevue Towers has not wavered from its original sales strategy of working one-on-one with individuals and their brokers to find the right home at the right price.
Bellevue Towers’ homes range from 807 square feet to 6,398 square feet, representing some of the most generous-sized condominiums in the market and offering the best value on a per square foot basis. “The price for the size is the best in the neighborhood,” said resident Neelam Chahlia. “It’s new and inviting. The location is the best, so accessible to shopping, transit, and work - my husband works two blocks away.”
Bellevue Towers consists of a 42-story North Tower and a 43-story South Tower with 539 total homes. Each tower offers its own lobby with dedicated concierge service, while sharing an array of other amenities. Residents of Bellevue Towers have access to a 24,000-square-foot urban garden nestled between the two towers, a private screening room, large dining room with terrace and chef’s kitchen, fitness center, spa and sun deck, and a great room that opens to an expansive outdoor terrace with fireplace and barbecue grill.
But it’s more than the attractive pricing, numerous amenities and convenient location that buyers experience at Bellevue Towers, says Todd Prendergast, principal with Realty Trust. It’s the unique combination of intimacy and warmth that begins at the lobby level, extends through the amenity spaces and is revealed within each home. “First time visitors to Bellevue Towers experience a sense of warmth and comfort upon entering the lobby that makes them immediately feel at home. This is just one of the many intangibles that set apart Bellevue Towers from other condominium projects in the area,” Prendergast says.
The project also features more than 300 original pieces from Northwest artists including Lucinda Parker, Julie Speidel and George Batho. Standard finishes in all Bellevue Towers homes include Viking or Wolf cook tops and ranges, Sub-Zero refrigerators, Bosch dishwashers, full-height granite kitchen-counter backsplashes and master bathrooms finished in marble or travertine. “It’s a fabulous building, not only because it’s green, but because it’s beautifully constructed, offers luxury amenities, and contains high-quality finishes and appliances,” said resident Michael Brandt.
New pricing information and tours are available Wednesday through Friday from 11 am to 6 pm and on Saturday and Sunday from Noon to 5 pm at 500 106th Avenue NE in downtown Bellevue. Prospective buyers may make arrangements by calling 425.454.9922 or visiting http://www.bellevuetowers.com.
Editor’s Note: High-resolution images of Bellevue Towers and the new penthouse model home are available by calling (425) 451-4387 or emailing Margaret(at)gruman-nicoll(dot)com
About Bellevue Towers
Bellevue Towers is a two-tower, 42- and 43-story condominium community located in the heart of downtown Bellevue at the intersection of NE 4th Street and 106th Avenue, within easy walking distance of shopping, dining and the Downtown Park. Bellevue Towers features large, luxuriously appointed floor plans that showcase spectacular city, lake and mountain views together with extensive homeowner amenities including a fitness center, spa, screening room, guest suites, dining room, community great room and rooftop garden between the towers. As sustainable as it is luxurious, Bellevue Towers has been awarded LEED (Leadership in Energy and Environmental Design) Gold status, making it the largest LEED Gold residential development in the Northwest.