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July 1, 2016

68% of Luma condos sold

SEATTLE — Brokers for the new Luma condominium tower on First Hill say they have sold 68 percent of the units so far.

The 24-story project at 1321 Seneca St. is slated to finish this summer.

“Sales velocity for the project has been outstanding,” said broker Julie McAvoy of McAvoy Real Estate in a statement. “We've sold 69 units in the first two quarters of 2016.”

Altogether, 115 of the building's 168 units are under contract. Remaining units range from the high $500,000s to $1.89 million.

The developers are Lowe Enterprises and Alecta, a Swedish pension fund. Weber Thompson is the architect and Lease Crutcher Lewis is the general contractor.

Red Propeller, which is co-listing the project with McAvoy Real Estate, said market demand for condos is at an all-time high while inventory in central Seattle is at an all-time low.

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