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, 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.

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.

A Grand Tour inside The Emerald

The Emerald is more than 50% sold and has now welcomed many homeowners to a prime location that enjoys the best of downtown and Seattle’s revitalized waterfront – just one block from Pike Place Market offering over a hundred unique retailers and a local farmers market. We’re excited to release a new video tour that takes the public on a unique first look inside the building amenities and model homes.

 

 

The video tour, led by Brooke Kavieff, opens with an introduction to one of Seattle’s newest residential towers, a glistening 40-story glass building with 262 signature residences rising above an iconic downtown address at Second and Stewart. The collection of modern high-rise condominiums includes studios, 1-bedroom, 2-bedrooms and 3-bedrooms plans and boasting amazing amenities spaces and first-class hospitality. The partnership with Columbia Hospitality, a Seattle-based hospitality management and consulting company, allows an exclusive experience for residents which includes specialty lifestyle perks and concierge amenities such as package assistance and services; when you’re out of town, they can check on your residence.

 

A striking architectural statement designed by the Seattle-based female led duo Julia Nagele, Principal, Director of Design – Architecture at Hewitt Architects and interiors by local interior designer Susan Marinello of Susan Marinello Interiors, The Emerald offers a variety of floorplan options ranging from approximately 579 sq. ft. to 1,189 sq. ft. with a price range from the $400’s up to $3 million.

 

 

The tour starts on the 3rd floor, an amenity level which includes features such as the state-of-the-art fitness center, yoga studio, dog run, dog wash and The Emerald Guest Suite. Next, Brooke leads us to the 24th floor model homes decorated by ASH Staging and Derive Design, describing how each may fit your individual view preferences and lifestyle needs.

 

First up, Residence 2401, a 2-bedroom, 2-bath NE corner unit, is an entertainer’s dream with incredible views North, East and West. Brooke points out that prospective homebuyers and Brokers are always surprised by the variety of views enjoyed by the building’s unique layout.

 

Next, Brooke takes us inside Residence 2404. This 1-bedroom with a den is a rare find in the Seattle housing market. The living room and den both have water views with a sliding glass door divider, the perfect fit for a Work-From-Home (WFH) dream.

 

Brooke leads viewers through Residence 2406 pointing out that this 1-bedroom, west-facing home has incredible water views across Elliott Bay all the way across to West Seattle. It’s the perfect home to enjoy a glass of wine and watch the sunset behind the Olympic Mountains and over West Seattle.

 

Residence 2407 is a highly coveted 2-bedroom, 2-bath, NW corner home with grand kitchen and sweeping views to Elliott Bay and Olympic Mountains. Available on floors 17 – 33. The den is like a tree-house in the sky with iconic views down Second Avenue to Smith Tower.

 

Off to the 39th Floor, the gem of the Emerald, where you will find the Olympic Room with its 3-story tall, all-glass amenity space showcasing all of the iconic views of the region: The Olympic Mountains, the Cascade Mountains, Mt. Rainier and Seattle’s Space Needle. The space was designed for tranquility and to maximize enjoyment of the views with sliders that open to Rainier Terrace.

 

On those sunny days, residents may venture outdoors onto Rainier Terrace, with glass barriers all the way to the ground, allowing you a rare bird’s eye view of Pike Place Market and to hear a game at Lumen Field, home of the Seattle Seahawks in the distance.

 

Additional amenities on the 39th Floor include The Emerald Veranda where residents and guests can watch a game outdoors on the exterior TV next to the fireplace, and visit in the open-air under heaters. The Emerald’s City View Room is a reservable rooftop indoor/outdoor space with sliding doors that open to a private outdoor picnic area. Here residents will enjoy Chefs grade appliances – an amazing space to entertain, especially in the evenings set to a stunning city skyline backdrop.

 

We hope you enjoyed the video tour and we look forward to inviting you inside for a personal tour of the special spaces real soon. Follow along on Instagram @theemeraldseattle and watch a series of tours through many of our neighborhood places and spaces that shape our location at The Emerald.

The Emerald Reaches 50 Percent Sold

Downtown living is here to stay! On the heels of reaching the significant sales milestone of over 50 percent sold at The Emerald comes the news that downtown Seattle’s population has rebounded. The population of downtown Seattle hit a new high in 2021, as did downtown apartment occupancy, according to data featured in a new report from the Downtown Seattle Association.

 

 

“I think in many ways we overstated the impact of the pandemic on people’s behaviors and preferences, that have been trending toward urban places and walkability,” said Jon Scholes, president of DSA. “I’m not surprised by the data, frankly.” Both downtown Seattle apartment occupancy as well as rents have hit all-time highs in second quarter of 2021. The appeal of city living isn’t so easily snuffed out, according to the Seattle Times article. The growth of greater downtown has been remarkable over the past decade. ESRI’s estimates show the population has increased by 60% since 2010, when the population was just 62,000.

 

Despite the news that Amazon will delay its return to work until 2022, downtown Seattle sales continue to be swift. Following record sales with a successful first-half of 2021, totaling $50M in sales in the first two quarters of this year alone, The Emerald’s continued transaction velocity confirms its position as the city’s fastest selling and most attractive downtown residential high-rise available to buyers in today’s current market, as recently reported this update on The Registry Pacific Northwest Real Estate.

 

“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’s remaining private residences comprise a variety of floor plans including studios-, one-, two- and one-bedrooms with dens starting from $434,000. Featuring the finest finishes, residences offer wide-plank European White Oak hardwood flooring, custom wood cabinetry with integrated lighting, and quartz counter tops. Residences also include spacious walk-in closets, Latch touchless and keyless entry technology for seamless and secure access, and floor-to-ceiling glass window allowing abundant natural light and incredible views.

 

 

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.

  

“The Emerald has experienced incredible interest both locally and nationally from buyers seeking pied-à-terre to first time homebuyers,” said Josh Nasvik, Managing Director at Polaris Pacific, The Emerald’s sales and marketing team. “Downtown Seattle continues to be one of the most desirable neighborhoods for luxury condominiums in Seattle and has proven to be a resilient market in the past year. We celebrate this momentous sales milestone which signals the comeback of downtown as people recognize that now is the time reinvest in the city.”

 

Located at Second and Stewart, The Emerald offers in-person or virtual tours of its eight new model homes in downtown Seattle, schedule yours today by contacting us at https://theemeraldseattle.com or call 206-429-8903.