Are you in the market for a Penthouse condo with one of the best views in the city?
Coming next week to the market will be unit #1401 at The Westerly. This unit offers 4000 sq. ft. of luxurious space with views that not only match those penthouse views of the new Cosmopolitan, they exceed them! Keep in mind, the Westerly is positioned near NW 23rd and looks over Portland’s Pearl District. So, the reality is that this 14th floor penthouse is much higher than the 28th floor penthouse at the Cosmopolitan. The pricing of this unit will be in the $3,200,000 range. If you may remember, the other penthouse unit in this building sold this year for $2,850,000 and it was 3600 sq. ft. It is rumored that the owners of #1401 have put over $1,000,000 into this unit. If you are looking for one of Portland’s finer penthouse units, please give me a call asap and we can arrange a showing.
How is the rest of the condo market doing these days? Well things have definitely slowed down. It is not unusual to see 3-5 new condos come on the market each day and then see 5-7 price reductions each day. What is happening in the market now is that you will see new listings that are more correctly priced when they come on the market. No longer are sellers able to ask for above market prices…and get them!
While we are seeing much more new inventory coming into the housing market (out in the suburbs ) we are not seeing that in the urban condo market. As mentioned before, with all of the new construction going on downtown as evidenced by all of the cranes we are seeing, the truth is, most of these construction sites are either for new apartments or new hotels!
Posted on 10/16/2015 at 12:00 AM