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Portland Penthouses for Sale...Part 2

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Yesterday I made a posting about the penthouses for sale in Portland. Well today… I have a new favorite! As I have often mentioned, The Elizabeth is one of my favorite buildings. Today a new penthouse at The Elizabeth ( #1503) came on the market for $4,000,000. This penthouse is stunning! What do I think about the price at $1,222 a square foot? I think it might be a bit high. If I am representing the buyer I think $3,300,000 to $3,500,000 might be more realistic. While it would be great for owners in the building if they did get $4,000,000 (and the owners of #1503) the problem is a recent penthouse sale that happened recently. Unit #1502 sold for just $1,900,000 or $551 a sq. ft. This will not help the sellers of #1503 in getting their price. While I don’t understand that low number at all, I will say the finishes in the beautifully remodeled #1503 are really jaw dropping. I believe this unit deserves a premium in that it is one of the most beautiful condos on the market! Did I mention that it comes with 2011 sq. ft. of outdoor living?

In the last three years there have been 3 penthouses at The Elizabeth that have sold for over $1,000,000. Of the three, I have sold two of them and the price per square foot was $712 for unit $1406 and $732 for unit #1404. The third was the above mentioned #1502 that was $551 a ft. ( again, I can’t explain the low price as it was the largest of the four …including the new one)

Will the newly listed penthouse #1503 be able to get it’s $4,000,000? I truly hope so …unless I am representing the buyer!

Speaking of buyer’s, If you are looking to tour any of the mentioned penthouses for sale ( or any other condo) give me a call at 503-896-8856

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