The Downtown Seattle condo scene isn’t a very big one and certainly not the kind that easily keeps up with current demands. So there probably isn’t too much surprise in the fact that Luma Condominiums, which opened it’s doors in August, just announced that they have sold out of first-run units.
One of only three condo projects built in or around downtown in the last eight years, Luma was a hit long before it opened. Low inventory, high demand, and cool techniques such as using virtual reality tool Oculus that gave potential tenants a chance to “walk through” all led to solid pre-sales.
By February 2016, 70 of their 168 units were already spoken for. That steady clip kept up all summer and fall as the building officially opened. By November, only a handful of units remained.
Condos were priced from $399,000 to $1.9 million with two of the four penthouse residences selling immediately. The project averaged a per-unit price of $697,000.
The 24-story, LEED Silver project features a large, rooftop space that includes a clubroom, a private dining room with adjacent terrace, a library, a wrap-around terrace with lounging space, grilling and dining areas, a fire pit and a four-season soaking spa. The tower also includes a fitness center for humans and a pet run and grooming center for animals.
The news bodes well for the upcoming condo project Gridiron as well as the many others in the pipeline.