Two days ago I listed a new luxury condominium, Unit #2701 at Fountain Plaza ( KOIN Tower). This gives me a great opportunity to use this listing to compare to the prices being asked at The Cosmopolitan. As many of you know, I have felt that the pricing at The Cosmopolitan was very high, not only compared to the local market but also the downtown Seattle market. (and that market is ALWAYS a higher price) . The unit I listed is an amazing 27th floor unit with an incredible 3834 square feet of living space. This number does not include the 2 decks, one on the east side of the building and the other on the west. Yes this unit occupies an entire half floor! Stand in the northeast corner living room and you will be amazed at the views of Mt. Hood, Mt. Adams and Mt. St Helens (and on clear day, Mt. Rainier)
In addition, at night you look northwest to the incredible twinkling lights of the city. From your living room and deck, take in stunning views of the Willamette River. One thing I will say in comparing this unit to any at the Cosmopolitan, is that you will not find this combination of views in ANY unit at the Cosmopolitan! The real catch here… Priced at $2,250,000, or $586 a square foot. This is slightly over half the price of a 27th floor unit at The Cosmopolitan ( $1,192) Is that building worth $606 more than Unit #2701? So what would you do with all the additional space offered in Unit #2701? It does have more than 1480 extra square feet of space. With 4 Bedrooms, 4 Baths and its own 16x 13 Gym, you have plenty of space! And by the way, that Gym is not the community building gym, it is part of unit #2701! Often, when a new building comes on the market, people get excited over something shiny and new so let’s take another angle to compare. If a person were to purchase Unit #2701 and do a $250,000 remodel and include a spectacular kitchen (something far superior to the 3 color scheme kitchens being offered at The Cosmopolitan) you would still be buying at only $652 a square foot. So let’s do the math $2,250,000 for a 3484 sq. ft. unit with absolutely stunning 3 mountain, city and river views or $2,704,000 for 2351 sq. ft. for Mt Hood and southern views? And by the way, what would you do with that extra 1480 sq. ft. of space? To see photos and a video of this spectacular unit, go to http://www.FountainPlazaCondo.com. If you would like a private viewing of this amazing unit, please call me direct at 503-896-8856!
Brad Golik is a condominium specialist with Pearl District Properties. Please visit his Portland condominium website http://www.LuxuryCondosofPortland.com