Milestone Moments: The Emerald Tops Market Dollars in 2021 Sales

As we move into a fresh year, we’re recapping real estate market trends and looking forward to a successful new year.

 

 

According to Polaris Pacific, West Coast leader in high-density real estate sales and marketing, median prices in West Coast markets are showing strength as we greet 2022. Extraordinarily low condo supply is driving median price levels throughout the west. Rounding out last year in December 2021, Seattle’s median sales price was $655,000 with 295 closings – up 2.4% over the previous year while months of inventory was 1.9, down over 53% from the previous year.

 

While Seattle area low-rise and mid-rise buildings both showed a negative annual price per square foot change in 2021, alternatively high-rise buildings of 13 stories or more (such as The Emerald) rose by 6.9%. Furthering sales momentum, Seattle showed less supply of unsold, new condominiums on the market (33.7 percent decrease from 2020) while demand for housing remained high. The median price in Seattle during the three months ending November 30th was $654,975, unchanged from November 2020.

 

Following record sales with a successful first-half of 2021, totaling $50M in sales in the first two quarters, The Emerald’s continued transaction velocity confirms its position as the city’s most attractive downtown residential high-rise available to buyers in today’s current market, as reported in The Registry Pacific Northwest Real Estate.

 

Indicating a strong luxury market, we’re pleased to share news that The Emerald had 2 of the top 5 highest priced Seattle condo sales in 2021 (Penthouse Residence 3605 and Penthouse Residence 3505), noting that these milestone sales also ranked The Emerald among properties with the highest price per square foot – upwards of $2,200. 

 

Often described as the perfect balance between convenience and luxury, between Penthouse offerings at The Emerald and continued market demand resulting in high dollar sales success, there are several key factors that set us apart from other new construction properties, which include:

 

  • A premiere address one block from Pike Place Market and Seattle’s new waterfront destination
  • Stellar architecture designed by a female-led team, Julia Nagele, Principal, Director of Design – Architecture of Seattle-based Hewitt Architects, with stunning interiors by local interior designer Susan Marinello of Susan Marinello Interiors
  • Soaring 10-foot plus ceiling heights, expansive windows and ample natural light to showcase unrivaled 360-degree vistas
  • Breathtaking panoramic and unobstructed views of the Puget Sound, the Olympics, Bainbridge Island and more

 

“The Emerald represents the very best of what Seattle has to offer,” said Dehlan Gwo, Director of Marketing and Sales for Create World Real Estate, developer of The Emerald. “Our buyers are purchasing a timeless piece of the city and are eager to plant their roots in the heart of our thriving downtown. We look forward to continue leading downtown’s revival and excited for our new owners to call Seattle’s waterfront home.”

 

The Emerald is also currently selling its exclusive 22-residence penthouse collection offering two-, three, and four-bedroom single-story residences up to ~3,948 square feet ranging from $3M to $10.9M. Located on the uppermost residential floors 34 through 38, each penthouse boasts over 10-foot floor-to-ceiling windows, hand-selected premium materials including natural stone slab countertops and backsplash, natural stone floors, and custom wood cabinetry with integrated lighting. Kitchens come fully equipped with appliances by Miele including a premium refrigerator with custom panelized door, gas cooktop, black and stainless-steel wall oven and top-performing dishwasher with custom panelized door. Thoughtfully designed bathroom suites feature natural stone, radiant heated flooring, and full-height natural stone showers with glass enclosures. Top-of-the-line fixtures include cutting-edge Dornbracht polished chrome bath and shower fittings alongside custom wood cabinetry and sleek Kohler soaking bathtubs.

 

 

 

*Stats sources: NWMLS, Polaris Pacific. PSF dollar amounts are for buildings built after 2004

New Entrances and Exciting News at The Emerald

On behalf of the entire team at The Emerald, we’d like to congratulate Brooke Kavieff on being named our new Sales Manager.

 

Brooke consistently brings a happy disposition and eager interest in all our interested buyers’ needs – to find each the best fit. She lifts everyone around her up with her professionalism, attention to detail, local market knowledge, and congeniality. We’re excited to have Brooke leading the sales team here at The Emerald.

 

 

We’ve also introduced a new Sales Associate at The Emerald, Kyle Weber. Kyle has called Seattle home as well as worked in the luxury high rise market for the last 5 years. Kyle is thrilled to be a part of the team at The Emerald adding to the downtown Seattle skyline just steps from its dynamic waterfront, and we’re equally thrilled to have him onboard.

 

“It’s difficult to say that there are any true direct competitors to The Emerald. Having the playground of Seattle’s Pike Place Market just steps from your front door is an experience that cannot be matched.”

 

Go behind-the-scenes with Kyle as we discuss location, views, model homes and favorite bites in the neighborhood.

 

Lavish. Crisp. Tranquil. That’s how Kyle would describe The Emerald. His favorite model home is the NE corner two-bedroom, two-bathroom home. “Featuring sweeping views from the Puget Sound to the Seattle Skyline and one of our largest living spaces, this home has versatility to attract the pickiest of buyers”, says Kyle. “The 1B-08 floorplan is also an incredible option if you work from home. Featuring a private office with wall-to-wall floor-to-ceiling glass windows, I can’t imagine a better working space while looking out toward the Iconic Smith Tower and Puget Sound.”  

 

The City View Room ranks as Kyle’s favorite view from the building: “While our unrestricted views from the Puget Sound are absolutely awe-inspiring, I must say that the sweeping downtown vista from the City View Room on our 39th floor holds my heart. There truly is a feeling of connectivity to the downtown neighborhood from a view that can best be described as a Manhattan Moment.”

 

Location matters.The best part about The Emerald’s location is your immediate connectivity to the neighborhood, with a walk-score of 99”, Kyle says. The Emerald’s premiere location at Second and Stewart places you in the center of downtown Seattle – just one block from the iconic Pike Place Market, steps from the waterfront and surrounded by the city’s best culinary and cultural destinations.

 

Favorite Pike Place Market Finds:

“Having Pikes Place Market right outside our front door brings you face to face with the freshest ingredients in town. If you are there often enough, you’ll discover small secrets that the tourists tend to overlook. I’m definitely a huge fan of DeLaurenti’s for their fresh house made pasta to bring your at-home cooking to the next level. Of course, there’s always the incredible Pink Door if you aren’t feeling up to cooking at home. If you’re a fan of Sushi, look no further than Sushi Kashiba for arguably the freshest culinary experience in the Pacific Northwest.”

 

Your Seattle adventures begin here. The Emerald is now over 50% sold. Onsite tours of our 8 new model residences and breathtaking amenities are available for tour by appointment. With homes starting in the $400,000’s, it’s the perfect opportunity to invest in a dream location or find your full-time home. Schedule your private in-person or virtual tour by contacting our team at 206-453-6800 or info@theemeraldseattle.com.

Made for Them / Made for You – More Reasons to Sell The Emerald

The Emerald has surpassed the 50% sold milestone and it’s easy to see why. Brokers from Seattle, the Pacific Northwest and beyond call it their favorite building to sell and appreciate the seamless teamwork they receive when bringing buyers.

 

 

The team at The Emerald has made it quite a seamless process for showing the building to my clients. From high levels of communication to prompt detailed follow ups, I truly feel like The Emerald is an extension of my team – working together to make homeownership possible for my buyer candidates. ~ Brian Hopper, Global Real Estate Advisor with Realogics Sotheby’s International Realty

 

My buyers fell in love with several of the protected water views, one- and two-bedroom floor plans. The prices are affordable and they loved the modern finishes, but most of all they were sold on the floor-to-ceiling windows that captured breathtaking Puget sound views. ~ Olga Dyckman, Realtor, Founder of The Seattle Condo Group at Windermere Real Estate

 

My buyers ultimately chose The Emerald for the lifestyle. It provides the perfect balance between convenience and luxury – downtown urban living at its finest. Plus, it’s new construction. The Emerald is at the top of my list of buildings to show to my clients. ~ Michele Liang 梁璐璐  Residential and Commercial Real Estate Broker ABR®CLHMS Million Dollar Guild, Realtor® Realogics Sotheby’s International Realty

 

The Emerald was made for your buyers and now we’re creating something made just for you. As we move into the new year and approach new milestones, we want to say thank you to everyone who continues to make our community a success. Introducing our Broker Incentive Program offered through March 2022 – Choose Your Adventure.

 

The Emerald and our management partners at Columbia Hospitality have collaborated to create a curated getaway or night out made with you in mind. 2021/2022 Incentive Packages are available to brokers with any new sales starting December 1, 2021. Any broker who makes a sale from December 1, 2021 through March 31, 2022 is eligible* to receive their choice of one of the following four packages:

 

 

 

 

  • Release the Kraken. Two Club-level seats and onsite parking to upcoming season Kraken game of your choice at Climate Pledge Arena.

 

 

 

 

  • Self-Care at Snoqualmie Falls. The Salish Lodge Signature Package includes 1 night stay, (2) 50-minute individual spa treatments of your choice, $150 dining credit (can be used at either dining space), a four-course country breakfast for 2 in The Dining Room, and a bottle of Salish Lodge & Spa brut.

 

 

*The gift incentive is facilitated by CHI and the Seller and is purchased upon contract closing. Curated gift package is in addition to escalated commission value. The incentive promotion is valid only on contracts ratified and mutually accepted by March 31, 2022. This offer is subject to change or cancellation without notice.

Celebrate Winter along the Seattle Waterfront

There are few places that are more memorable than the Seattle waterfront during the holidays. The Emerald’s premiere location at Second and Stewart places you in the center of downtown Seattle – just one block from the iconic Pike Place Market overlooking the Elliott Bay. A magical spot to be year-round, the Market lights up this season and is activated with festive events. Shop small, buy local and discover all the reasons to celebrate this season as the Seattle waterfront turns into a Winter Wonderland.

 

 

Can Can presents Wonderland, showing December 2- January 9. This carnival of merriment will mesmerize audiences as soon as they enter Can Can’s intimate theatre turned whimsical winter chalet, making this a holiday entertainment spectacular to remember. In the kitchen and behind the bar you’ll find a variety of food, wine, and spirit menus carefully crafted with local market-fresh winter ingredients, prepared to tantalize even the most refined palates.

 

On December 1st and 9th, Truffle Queen is hosting a Holiday Open House where they will have special pricing on Italian holiday cakes and more, plus preview tastings for wines arriving in the new year.

 

Snap a picture with Santa and Crafty on December 4th and 11th. Santa will be visiting the Market two times in December with special guest, Crafty for free holiday photos. Get all your holiday shopping done + receive a free gift when you spend $50 or more at Market businesses. The gift includes 1 eco-friendly Market wrapping paper kit. Bring your receipts to the “Special Offer Tent” to receive your free gift.

 

Order your Holiday Pike Box. This NEW Pike Box is an exciting mix of spices, honey, and nuts from the Market farmers. Registration ends December 8th.

 

Cross off everyone on your holiday list when you shop at the Holiday Night Market on December 16th as the MarketFront Pavilion is transformed into a winter wonderland of stocking stuffers, ornaments, and one-of-a-kind gifts. Shoppers can raise a glass at the Polar Bar with seasonal cocktails and live music with drink proceeds supporting the Pike Place Market Foundation.

 

Lend a helping hand and care for the needs of our neighbors at Pike Place Market this holiday season by contributing to the Giving Tree by December 20th. Send a gift using their Amazon Wish List, purchase a gift card or make a donation directly to the Market Foundation, and leave the shopping to them. Their goal is to collect and distribute over 1,000 warm winter items and holiday gifts.

 

Add in some laughs this holiday season with A(n Improvised) Christmas Carol, a holiday tradition for countless locals since 1985. Experience a new version of this old favorite each night through December 23rd, so head to the Market Theatre in Pike Place Market and have a blast creating your own Christmas classic.

 

Imagine the lights you’ll see if you dine in a gondola 200 feet above the Salish Sea. Assemble 4 people, friends or family and make reservations for the dinner experience of a lifetime at Seattle’s Great Wheel. Enjoy a spectacular 4-course dinner including prawn cocktail and grilled salmon paired with views of the Puget Sound.

 

Depart from nearby Pier 55 during December and travel on the Christmas Ship Festival, decorated with hundreds of shimmery white lights and sailing to different Puget Sound waterfront communities. Choirs on board the Christmas Ship perform to guests aboard, to follow boats, and to communities gathered on shore.

 

Deck your Halls

 

Visit these 12 Market Shops to Make Your Home Holiday Ready, from dried flower wreaths to leaf-imprinted spoon rests to Market themed posters and more!

 

‘Tis the Season to Indulge

 

Whether you’re looking for the best quick stops to hit while knocking out your holiday shopping, seeking a memorable sit-down experience with a great ambiance, or satisfying your sweet tooth, Pike Place Market has you covered! Explore the Pike Place Holiday Food Tour, including some of these gems:

 

Shug’s Soda Fountain & Ice Cream. This classically styled ice cream parlor is serving up hot cocoa with freshly whipped vanilla cream (add Irish cream for those 21+) and a seasonal “Elf Float” combining candy cane ice cream and peppermint soda.

 

Chocolate & Ice Cream Delight. Their hot chocolate bombs are back! Drop in for a selection of delightful fudge and seasonal truffle flavors. Be sure to indulge in their snickerdoodle or peppermint truffles for an extra festive kick.

 

Looking for a few unique holiday host gift inspirations? Pike Place rounded up a few:

 

Chocolate Gift Set. indi chocolate has a variety of gift sets available or you can customize your own. This shop doesn’t just sell chocolate, explore the “unexpected side of chocolate” with cacao butter body care, cacao spice rubs, cocoa nib liquor infusion kits, s’mores kits, and more!

 

Reusable Glass Straws. DrinkingStraws.Glass has seasonal designs available including an elf hat, Santa hat, evergreen tree, or a Christmas tree. Or choose from their classic straw sets for a gift that’s used through every season!

 

Handmade Cards. The Paper Feather has a perfect gift for the person who loves sending special notes with handmade cards! This package includes 13 cards designed and handmade by The Paper Feather, postage stamps, and packaged in a pink bakery box with ribbon.

 

Gift Baskets and Wine. Chukar Cherries has new Columbia Valley wine gift boxes and a charcuterie kit that features the very best delicacies of the Pacific Northwest. All of their assortments and tins of Northwest cherries, berries, and nuts now come in festive holiday sleeves.

 

If you’re still looking for gift ideas, visit 12 Pike Place Market Gifts for Kids and Teens, 5 Thoughtful Market Gifts for the Person Who Needs to Relax and 11 Pike Place Market Gifts for the Stylish Friend.

 

Be sure to book your tour of The Emerald this season before you catch the festivities. Now over 50% sold and priced from the $400,000’s, we cannot wait to show you our 8 new model residences, beautiful building amenities and a unique bird’s eye perspective looking down on Pike Place market all aglow.  Schedule your private in-person or virtual tour by contacting our team at 206-453-6800 or info@theemeraldseattle.com.

 

 

Pike Place Public Market Photo by Matt McDonald @equalmotion

THE Spot to Spend Seattle Weekends

Thrillist recommends spending Seattle weekends at the foot of The Emerald! The Emerald’s premiere location at Second and Stewart places you in the center of downtown Seattle – just one block from the iconic Pike Place Market, steps from the waterfront and surrounded by the city’s best culinary and cultural destinations. The recent feature highlights several walkable spots within close proximity to our community which make it the perfect launching spot to explore Seattle whether a visitor or native that loves the city.

 

 

Rising steeply from Elliott Bay, Seattle’s Downtown greets visitors to the city with a sample platter of its best features. From the culinary diversity and fresh ingredients of the iconic Pike Place Market, to the rooftop gardens, to the first Starbucks location  — the city takes pride in its open spaces and open attitudes. Seattle’s personality comes from its wide array of neighborhoods, but Downtown’s ease and convenience makes it an essential starting point for a weekend tour.”

 

Start with the below round up of ideas by Thrillist on how to spend your Seattle weekends. “Downtown’s ease and convenience makes it an essential starting point.” – Thrillist

 

Discover a Rooftop Garden at Fourth and Madison. Spend a sunny day in the garden. This rooftop garden is located on the 7th floor of the tower and wraps around three sides of the building. The patio is a lush, green retreat from the city below. Tables and chairs are situated throughout the garden area, perfect for lunch on a beautiful day. Enjoy up-close vistas of the Smith Tower and the Central Library and peekaboo views of Elliott Bay. The rooftop garden is open from Monday to Friday from 7 am to 5:30 pm and also features free Wi-Fi.

 

Visit the First Starbucks. This small shop in Pike Place Market offers visitors a peek at the history of Seattle’s hometown coffee chain, as nearly all of the original features are still intact. Admire the 50-year old original Starbucks sign on the front façade, spy the original Starbucks logo and fixtures inside this 1,000 square foot store. Purchase something from the modern menu at the original Starbucks and strike a pose, it’s an Insta-worthy location.

 

Lunch at Pasta Casalinga. One of Pike Place Market’s newer lunch spots, this tiny pasta shop offers an equally tiny menu. It always includes a lasagna and plain tomato sauce option, plus one each “from the garden, “from the ocean,” and “from the farm.” All of the offerings utilize seasonal ingredients — often from fellow Pike Place vendors — in a vegetarian, pescatarian, or meat option. The pasta shapes are specially chosen to highlight the flavors of local foods.

 

Mee Sum Pastry. Also located in Pike Place Market, this Chinese bakery stall makes more than 1,000 of their buns, also known as Hom Bow, each day. They offer versions baked or steamed, and stuffed with their unique curry beef, traditional barbecue pork, chicken, or vegetables. The buns share the deli case with almond tarts, sesame balls, wife cakes, and all kinds of other Chinese sweets and savories.

 

Ventures Marketplace. Located right below the famous fish throwers, at first glance this shop could be just another eclectic gift shop — something of which the Pike Place Market hosts a delightful variety. But here, your purchase of hot sauces, jewelry, lip balm, wallets, or incense goes even further: this is actually a consignment store for graduates from a non-profit business incubator called Ventures. The organization focuses on providing training and resources for people for whom those things are often difficult to access — especially women, people of color, and immigrants — and for many who go through the program, this shop is one of the first places they sell.

 

Olympic Sculpture Park. Covered in monumental artworks, this award-winning nine-acre sculpture park on the waterfront is Seattle’s largest downtown green space and is just one mile north of the Seattle Art Museum. The sculpture park offers monumental contemporary sculptures and breathtaking views of t​he Space Needle, Olympic Mountains, and Puget Sound. Stroll along a 2,200-foot path that zigzags from the pavilion to the water’s edge to tour the park and its surroundings.​

 

Take a Walk down the Red Hall at Central Library. Dutch architect Rem Koolhaas designed the city’s flagship library, opened in 2004, and it boasts floor after floor of public art, impressive open space, and 1.5 million books. But the fourth floor stands out, even among the many unique areas, because the hallway that loops around the floors, meeting rooms, and computer labs features more than a dozen different shades of red on the floor, ceiling, and walls. It’s the library’s most photographed section and shows off the intersection of art, function, and architecture that make this building such a beloved and significant part of Seattle.

 

Observatory Bar in Smith Tower. If you prefer your views with a craft cocktail, the iconic, world-famous Smith Tower satisfies. Whisking visitors up 35 stories, the Otis elevator introduces you to a Prohibition-themed bar that harkens back to the 1914 building’s early years. Stop by for happy hour and the stunning 360-degree views of Seattle from what stood as the tallest building west of the Mississippi until 1931. Take in the views from the elegant Observatory Bar as you sip local microbrews, barrel-aged cocktails, and bourbon flights.

 

 

Your Seattle adventures begin here. The Emerald is now over 50% sold. Onsite tours of our eight models homes and breathtaking amenities are available for tour by appointment. With homes starting in the $400,000’s, it’s the perfect opportunity to invest in a dream location or find your full-time home.

 

Image credit:  Photo by Tiffany Von Arnim/FLICKR

Call us Family: The Emerald is Neighborly

What happens when siblings share an affinity for stunning Seattle views, smart layouts and a stylish design? Well, they move in and call The Emerald home. Meet Alex and Sydney, new homeowners at The Emerald that just so happen to be family. Now that’s neighborly.

 

 

“Having family nearby has always been important to us. After having spent the majority of the pandemic quarantining together at our family home, we realized living in such close quarters again felt comforting and nice! Funny enough, our new homes at The Emerald are now actually closer in distance to each other now than our rooms in our family home! We look forward to planting roots here and creating many more memories together exploring one of Seattle’s most beautiful waterfront neighborhoods.” 

 

Good neighbors are easy to come by when you call The Emerald home. As it turns out, Seattle itself is quite neighborly. In fact, a recent report from OfferUp ranked Washington State as the ‘Most Neighborly Place in the United States’. States were ranked based on six essential factors that pretty much epitomize what it means to be a good neighbor, including communicativeness, friendliness, generosity, honesty, punctuality, and reliability. Washington ranked number one in all six of those factors for the second year in a row. The Emerald City also came in first place as the nation’s most friendly city, varying in factors – ranking #1 for generosity, #2 for communicative, friendly, and honesty, and #3 for punctuality – all together averaging out in first place among cities nationwide!

 

We asked our sibling duo to describe how the two came to be neighbors at The Emerald:

 

Our mom actually found it first! She was doing some casual searching and came across one of the listings on Zillow. I immediately fell in love with what I saw – the pictures were stunning and it just seemed like such an elegant building. Brooke took us to several units and showed us the different amenities, all of them being top tier. However, the Olympic Room was what blew us away – we grew up in the area so we’ve seen quite a bit of it but our whole family agreed it was one of the most spectacular views in Seattle we had ever seen. 

 

The views are what really sold us – we knew immediately that we wanted to be a part of the community at The Emerald. Choosing the exact same floor plan as Alex was just a coincidence!”

 

…and since good neighbors extend beyond our building, we asked the duo about some of their favorite retail neighbors just outside our doors:

 

I’ve recently been heading over to Belltown! They have great places to eat. I really liked Some Random Bar, it has pretty cocktails and a cute little patio to sit out on! It is also a pretty active area on the weekends. There is something for everyone: restaurants, casual bars, cocktail bars, and even clubs! I love that it is within walking distance and I don’t need to pay for expensive Ubers”, says Sydney.

 

Pike Place has been pretty busy the last few months and it has been fun to see the city filled with people again. My favorite shop is the Truffle Queen. They have artisan black and white truffle products. To my surprise, they even had my favorite truffle chips that I’ve only ever found in Italy!

 

One of The Emerald’s most exciting amenities has to be its unique partnership with The Thompson Seattle. The hotel is a staple for downtown Seattle with an incredible ambiance and rooftop. It truly can be seen as an extension of our waterfront backyard. From the valet service to the secret owner’s menu at The Nest, we can’t wait to enjoy the many perks that come with The Thompson being directly across the street.

  

Now over 50% sold, The Emerald’s community has come to life. Move-in homes are available. Join us for a virtual or in-person tour of the collection of seven luxury model home residences, located on the 24th floor of The Emerald’s 40-story tower featuring unrivaled views and access to an array of amenities, all within walking distance of Pike Place Market and the Seattle waterfront.