Finally, it has happened. The bubble has popped in Seattle. Wash DC had its celebrated Bubblicious Bench, now I give you the Bubblicious Fence. Behold:
I count 7 lockboxes on the fence, and it's not even Spring Selling Season yet!I know this building. I lived here. It's in Lower Queen Anne, a fashionable area just north of downtown. I moved to this building in 2000, coming from Chicago to work at a dotcom called Onvia on Lake Union.
I rented a tiny 407 sq ft studio unit for $1000/mo, with a nice view of downtown, Mt Rainier, the Space Needle, and the Olympic mountains. It was all the space I needed, and I was seldom home, always out hiking or climbing in the mountains, or at work.
A couple of years ago, the Athena went condo, and some fool bought my tiny studio for $215K, or $528/sq ft!
I'll keep tabs on this situation throughout the spring. Seattle, you have finally arrived! Welcome to Deflation Land! Congratulations, Athena!
3 comments:
Funny blog!
I've thought about getting one of these tiny studios near Queen Anne for a pied-à-terre, because they seem relatively cheap. (I'm confined to the Eastside for work--hate commuting across the lake.) But alas, I do not have money to burn. In 1994 I had a nice 2 bedroom apt. on the top of Queen Anne for $525/mo. Those were the days! Maybe again?
Like I said, I will monitor the situation in Lower Queen Anne very closely. Right now we're at 7 lockboxes one week before Superbowl. This could go parabolic any minute now.
Hi, just stopped by to take a look. I'll follow along....
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