Just Another Uber Cool Foreclosure, Unit #2101 Newmark Tower, (Pictures)

  • Jeff Reynolds
  • 12/18/11
It is Monday and yet again I have a great example of a foreclosure from last Fridays auction. Unit #2101 at Newmark Tower sold for $297,000. The minimum bid was $263,500. In January of 2010 it was listed as high as $450,000. So when I saw that it was headed to auction, I had a gut feeling that it would appeal to the masses. Although small at 610 sq ft, it had gone through a modern renovation that gave the unit character. The western waterview alone was enough to attract a number of investors. Apparently it did exactly that.
If you don’t recall, Newmark Tower is located at 1415 2nd Ave. It is one block from Pike Place Market, a short walk to the waterfront and will be home to one of Target’s first “Urban Concept” department stores. Target acquired the retail space for estimated 15.5 million dollars.

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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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