Portland Penthouse Watch
What is happening in the upper end of Portland’s condo market? Let’s start by looking at the top 5 most expensive condos in Portland that are currently listed. The most expensive, at $2,495,000, The Envoy penthouse. This beautiful penthouse has become like an old friend…because it has been on the market for so long now we have come to know it well. While certainly a unique property, this condo seems to be cursed or it is just the fact that it seems to always be priced just above the market as it has consistently chased the market down.
In the number 2 spot, is one of my favorites and priced at $1,995,000, unit #1405 at the Elizabeth. Listed in late April, this special unit features killer views to the East as well as north to Mt St. Helens. If you are in the market for a luxury condo in Portland, this one deserves a look! Give me a call and we can set up a showing as soon as possible.
In the number 3 position is a penthouse we wrote about in mid April when it came on the market. With it’s price reduced $250,000 since that time, now priced at $1,950,000, this penthouse located on 14th street still seems to be priced high in my opinion. With about 300 square feet less than our number 2 penthouse, this unit just seems to live much smaller. And while boasting an 800 square foot terrace, the noise levels next to the freeway prohibit any relaxing times with peace and quiet. Also, when paying over $1,900,000, most buyers will not like the fact that owners at the two buildings next door look down on this property!
In the number 4 spot, Unit #1001 at Waterfront Pearl. Earlier this year, I had written about the unit directly below this unit, #901, it recently sold for $1,650,000. Unit #1001 is now on the market and listed for $1,759,000. While a spacious unit with over 3100 square feet, it does have one slight negative for this price point and that is the privacy could be a bit of an issue for some as the building next door does look directly into this unit. With that said, it does have fantastic river views, in addition, when you stand at the windows of this unit you feel that you are standing right on top of the river! In addition to the 3 bedrooms a den and 3.5 baths, this unit has a large room that would be perfect for a large media room!
At #5, this penthouse unit at Park Place, offered at $1,650,000 offers a wonderful outdoor living area. While the living area itself is nice, it does not come with a ton of the “Wow” factor.
In addition to Portland’s most expensive penthouse condos, I did want to mention a unit that I think represents value and is also a very nice unit. This is the new listing at the Casey, unit #1501. If spectacular views are what you are after, look no further! If you are in the market, give me a call soon and we can set up a showing of this beautiful unit. This is a unit that I think will sell reasonably quickly and one of the reasons I think this will happen, other than the great views, another unit in this building is priced a quarter of a million higher than this unit, and while the other unit is slightly bigger, the 15th floor views will win people over! I also believe the pricing of the other unit will actually help the sale of unit #1501.
So there you have it. Some of Portland’s best penthouse condominiums on the market today! Again, if you are in the market to buy one of Portland’s finest penthouse condominiums or one the fits more into your budget, call Brad Golik today. It does not cost you anything more to work with a condo specialist!
The Envoy Penthouse is back on the market …. and the price has not dropped! Unit #800 at The Envoy came back on the market recently, priced again at $2,995,000 after over 700 days on the market! This is slightly higher than the penthouse at The Westerly, priced at $2,950,000 that we recently wrote about. So, if you were in the market for a Portland luxury penthouse, which one looks more attractive? I would have to say in my opinion these are the two best penthouse condos on the market right now. Clearly better units than the penthouse units available at The Eliot, The Benson and Encore.
Let’s compare just these two for comparisons sake. The Envoy penthouse does have the most square footage of any penthouse on the market right now at 5,026 square feet. But, how important is this in comparison to the square footage at The Westerly penthouse which has 3,662? I don’t believe it’s a huge selling point because most people looking to buy a luxury penthouse are downsizing from their existing 4000 to 8000 sq. ft homes. They really don’t need the massive space that they need to take care of. While the deck of The Envoy is very large, I believe the 2 decks at The Westerly offer more than enough outdoor entertaining space.
Now to me, what REALLY puts The Westerly penthouse out front are the views! People are willing to pay more money for a dead on easterly, Mt. Hood ,city view and that is what you get with the Westerly penthouse.( The larger picture above is from the deck of The Westerly penthouse!) If I am spending over $2,000,000 for any condo, it better have some of the best city views available, and this one does. Unlike the penthouses in the Pearl, this one actually looks over the Pearl and downtown Portland! The view at The Envoy view actually looks up to The Westerly penthouse and has more of a northern view… just not as desirable!
*Above photos are interior of The Westerly penthouse*
Also, of importance is that while the interior of The Envoy penthouse is spectacular (amazing kitchen), the building itself is quite old (1929) while The Westerly is a brand new building. Finally, the 4 bedrooms are nice to have at The Envoy, but probably not necessary for someone looking to downsize. Of more importance in this price category is the fact that the Westerly has 4 covered parking spaces compared to 2 at the Envoy( + 2 uncovered).
All in all, for me, the spectacular views are what makes The Westerly penthouse the winner over The Envoy penthouse. Everybody does have their own personal preferences so I would say if you are considering a Portland luxury condominium to purchase, give me a call and we can get out and take a look at all of the available penthouses on the market and you can make the best decision from that point! I do specialize in the Portland luxury condominium market so give me a call if you are ready to see some of Portland’s finest luxury condominiums!
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