bellevue

Bellevue Towers Goes Back To The Lender

Big real estate news in Bellevue, Washington. The developer of Bellevue Towers, the biggest complex in the region, has turned it over to the lenders to avoid foreclosure. The 539-unit, two-towered complex has struggled to find buyers since its completion nearly two years ago at the start of the real estate collapse. Only around 120 units have sold. The buildings are the tallest on the Eastside. The Seattle Times reports that Gerding Edlen transferred the downtown Bellevue project's unsold units on Thursday to an entity led by Morgan Stanley, according to county records. The developer had borrowed $275 million in 2007. The loan matured a year ago and the lenders have been paying the project's bills since then.

On average units are priced about 30 percent lower than their original prices.The complex includes a fifth floor amenity suite with a fitness center, spa, cold-dip pool, sauna, steam room and terrace. The 42-story towers offer dramatic views.The podium between the towers is designed to have urban gardens with walking paths, a pet area and a linear water feature.

Given the need to move units I wouldn't be surprised to see a condo auction on this one to move some units more rapidly.

Tags: bellevue, bellevue towers, condo development, condos, washington real estate

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New Luxury Shopping Center Opens In Washington

by Deidre Woollard (RSS feed) —

This may not be the ideal time to open a luxury mall but that isn't stopping Puget Sound's first new shopping center to open in several years. The Shops at The Bravern in Bellevue, Washington opens today, September 12. The 305,000-square-foot retail center is home to a Neiman Marcus, Hermes, Jimmy Choo, Louis Vuitton and an Elizabeth Arden Red Door Spa which is offering an opening special the Red Door Warm Welcome Package, a Signature Massage or Signature Facial, Warm Cream Manicure or Shampoo, Blowdry & Finish and Makeup Refresher for $120 ($141 - $161 value). Restaurants include John Howie Steak, Artisanal Brasserie & Winebar and Trophy Cupcakes. The center also offers concierge service.

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Tags: bellevue, bravern, neiman marcus, NeimanMarcus, washington

Bellevue Psych Hospital Remodeled as a Luxury Hotel?

by Rigel Celeste (RSS feed) —

Filed under: Luxury Travel & Hotels

It's true! Bellevue Psychiatric Hospital, previously home to famous names like Normal Mailer, Edie Sedgewick, and the guy who shot John Lennon (Mark David Chapman), is getting a remodel and soon will be a luxury hotel. Built in 1931 it's pretty perfect for the remake, with its location in Manhattan along the East River, its Italian Renaissance style, and even its "H" layout with hotel-sized rooms on long corridors.

Bellevue hasn't treated psych patients since 1984 when it was transformed into a homeless shelter, and now the plans for yet another renovation are well underway. No word yet on when they hope to have the hotel finished, but hopefully there's a developer locked in by the end of the year so renovations can get started by the middle of 2009.

Knowing all the history (and insanity) that happened in those walls, will you stay there?

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Tags: bellevue, hospital, hotel, luxury hotel, LuxuryHotel, manhattan, new york, NewYork, ny, nyc, psych, psychiatric, psychiatric hospital, PsychiatricHospital

Wood, Stone and Water, Estate of the Day

by Deidre Woollard (RSS feed) —

Filed under: Estates

I've been lucky to find homes with great woodwork lately. This one in Bellevue, Washington is one of the most amazing I have seen. It is a four-bedroom home designed to invoke a zen-like serenity. The home was designed by architect Curtis Gelotte, who calls it Wood, Stone and Water on his site. Rough stone fireplaces and large windows as well as an indoor waterfall help complete the feeling of rustic calm. The staircases here are just amazing but the most stunning piece of design in the home is the custom designed tea-house canopy over master bed. What a place to sleep. It is listed at $3.5 million.

Gallery: Wood, Stone and Water

Tags: bellevue, curtis gelotte, estate of the day, washington

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Rancho Ventada, Estate of the Day

by Deidre Woollard (RSS feed) —

Filed under: Estates

I know, I know, another Tuscan villa in a completely inappropriate location but the shots of this home in Bellevue, Idaho glowing warmly from snow-covered mountains won me over. The five-bedroom home sits on nearly 22 acres that include gardens, ponds and pastures. The kitchen island does double duty as a handsome table and its sort of nice to see one not done in granite or another type of stone. The outdoor covered space with is brick vaulted ceiling and heavy wooden bench is particularly winning. Exposed wood beams, tiled floors and plenty of fireplaces add to the studied charm. The current owner has filled the home with rather heavy-looking paintings which add to the home's pretensions of age. It is listed at $6.5 million.

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Tags: bellevue, estate of the day, EstateOfTheDay, idaho, luxury real estate

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European Tower In Bellevue Washington

by Deidre Woollard (RSS feed) —

Filed under: Estates

Today's development brings a touch of luxury to Bellevue, Washington. The 17-story European Tower offers just one home per floor plus a two-story penthouse. The project is aimed at those who would usually prefer to buy a house. The elevator opens into each floor and only visits one floor per trip so owners have their privacy. The only shared space is the roofdeck. The building will also have fingerprint readers for the garage, front door and elevators so you don't even need to bring your keys.

To give owners the amenities often found in other complexes membership in the Harbor Club and one of two nearby fitness centers will be included with the price. Both the interior and exterior are clean and modern with simple lines and ample use of glass metal and stone. The project should be finished in the fall of 2008. Prices start around $2 million. A press release in March indicated that there were still 12 residences left for sale.

[via Downtown Bellevue News Blog]

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Tags: bellevue, condo, condo real estate, condominium, new developments, tower, washington

Bellevue Washington, Estate of the Day

by Deidre Woollard (RSS feed) —

Filed under: Estates

Today's estate is a study in capitalizing on a view. After all this home in Bellevue, Washington has some striking views of Lake Washington and Seattle to showcase. The solution for this contemporary home was to open the enitre side facing the water with plenty of glass. The four-bedroom home sits on 1.38 acres that include a pool house with a studio and exercise room and an angular pool and spa. The main house has a large master suite, guest suite and two additional bedrooms. Innovative usage of concrete and glass give this home a very open and accessible floor plan. This home is listed at $6 million. After the jump, a river of glass adds interest to a long hallway.

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Tags: bellevue, estate of the day, luxury real estate, washington

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