Bellora Penthouse Condo Headed to Foreclosure Auction, in 2005 $1.5 Million, Now $800,000

  • Jeff Reynolds
  • 03/9/12
Wow. You don’t see this very often. If I were only in the market for a penthouse right now!
 
One of the Bellora Penthouse units is headed to foreclosure today (public auction).  This Seattle condo located in Belltown was last purchased for $1,495,000 in 2005. As of 9am this morning it has has a minimum bid of $800,000. It is a 2 bedroom, 3 bath unit plus den. It has floor to ceiling windows with big views of Elliott Bay and the Olympic Mountains. It features bamboo flooring, granite countertops and high-end appliances and at 2003 sq. ft, the asking price of $800,000 puts the cost per square footage at $399!
 
At $400 per square foot for a Seattle penthouse, I’d say thats a pretty incredible deal. Take a look at the penthouse for sale at the Concord.  These buildings were built just 3 years apart and many would argue that they very much alike in their offering and quality of construction. With that said, one is for sale at $1,795,000 (Concord) and the other mentioned above is 300 sf more and priced by the bank at $800,000 for today’s auction (Bellora).
 

2929 1st Ave Penthouse #2

 
BELLORA SUN DECK
 
BELLORA GYM
 
 

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Jeff Reynolds is a real estate broker with Compass Seattle. Jeff is the founder of UrbanCondoSpaces and he leads Seattle’s number one condo team. UCS is a blog specializing in Urban Living. Contact Jeff to see homes for sale, to sell your condo, or to simply learn more about the Seattle Real Estate market.

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