In September of 2011 the penthouse at One Lincoln Square as we reported (https://downtownbellevue.com/2011/09/19/one-lincoln-square-bank-owned-penthouse-for-sale-4-95m/ ) was first listed for $4.95M. On March 28th the sale was complete to an owner that paid $2.3M, 53% lower than the original asking price. The price paid was also lower than the last sale price in 2006 for $3M.
The property was banked owned, and over the 7 months it was for sale the price had quickly been lowered. Since it was bank owned there was great urgency in wanting to unload the property.
Although there are not other condos in downtown Bellevue actively listed over the $2M price range, this goes without saying that the buyer received the deal of a century (well, at least the deal of the decade).
In September of 2011 the penthouse at One Lincoln Square, as we reported, was first listed for $4.95M. On March 28th the sale was complete to an owner that paid $2.3M, 53% less than the original asking price. The price paid was also lower than the last sale price in 2006 for $3M.
The 2-bedroom, 2.5-bathroom, 4,048 sq.-ft. property was banked owned, and over the 7 months it was for sale the price had quickly been lowered. Since it was bank owned, there was great urgency in wanting to unload the property.
Although there are no other condos in Downtown Bellevue actively listed over the $2M price range, this goes without saying that the buyer received the deal of a century (well, at least the deal of the decade).
Tags: One Lincoln Tower
The sale price in 2006 was only the shell of the condo!! What a deal.
Very good news…units are movin!
Why buy a condo when you can have a house?
^I would ask almost exactly the opposite question – why buy a house and have to deal with a yard, be a slave to a car for everything, and not be able to walk out the door to shops and restaurants when condos are cheaper? Makes no sense.
What’s the HOA on this?
The HOA dues are $2,650/month.
well.. i need it to be 98% off.
I would say it’s the deal of the last decade for sure, we’ll see in 2019 how this turned out. Hopefully Kemper will let them use the helipad.
Beautiful style and great view!
any idea who bought it? 🙂
@Rachel: I’m still waiting on the housewarming party invite. We’ll figure it out then… 🙂
Deal of a decade? Skyscraper living in Bellevue? Who would be that stupid…