Phase One of Bosa’s Insignia in Seattle is 50 percent Sold

By Joshua Ayers, Senior Editor

Seattle—Bosa Development’s much-anticipated Insignia condominium development in Seattle is more than 50 percent sold after topping out the project’s first tower (Phase One). The development’s planned twin 41-story towers were the first post-recession condominiums in the Seattle area to hit the market.

“We are pleased with the velocity of sales at Insignia, which has exceeded our expectations due its popularity with a range of buyers from Millennials to empty nesters,” says Nat Bosa, president of Bosa Development. “The community has also embraced us, with many purchasers moving from other neighborhoods within Seattle.”

Insignia, which was designed by architect Perkins & Company, is located at Sixth Avenue and Bell Street at the confluence of Seattle’s downtown, Belltown and South Lake Union Neighborhoods and about two blocks from Amazon’s planned 3.3 million-square-foot office building.  Phase One offerings include 350 residences with floor plans of one- and two-bedrooms. Pricing begins in the high $400,000 and will go as high as about $2 million.

“The condominium market in Seattle is continuing to pick up steam, as evidenced by the strong sales pace at Insignia despite the addition of new inventory,” says Alan P. Mark, founder of The Mark Company, which is serving as the broker of record for the property. “According to the August Trend Sheet distributed by our firm, Downtown Seattle condominium prices rose 2 percent over the previous year, and a new construction inventory was more than 350 percent higher than June 2013.”

A major highlight of Insignia residences will be the 360-degree views of the surrounding cityscape, which includes views of Puget Sound, Lake Union, as well as the Olympic and Cascade Ranges. All units include upscale finishes including kitchens with quartz countertops, stainless steel appliances, cabinet-front dishwashers and refrigerators and European-inspired cabinetry. Other unit features include washer and dryer, walk-in closets, private balconies or roof decks, on-site storage and bathrooms with marble or quartz vanity tops.

Planned amenities include a 41^st floor sky retreat and resident lounge, an open-air park terrace with grilling area, an outdoor fireplace gathering space, a fitness atrium equipped with a yoga and Pilates studio, a screening room with entertaining bar and lobby designed by Freedland. Residents will also have access to an outdoor pet area, pet washing and grooming area, gate parking garage with assigned spaces, electric car charging stations.

Phase Two’s proposed amenities include an indoor lap pool and spa, as well as a steam room and sauna.

Insignia is targeting LEED Silver certifications. Phase One is expected to complete in late spring of 2015.