Olive 8 “Sold Out”
Buried in our update on the remaining Seattle new construction inventory was the news that Olive 8 is now “sold out”. And yes, the quotation marks are intentional. The remaining unit, #3800, a sub-penthouse with 11’ ceilings, 2,225-sq. ft., listed at $2,500,000 was pulled off the market. The developer just decided to incorporate #3800 into their portfolio.
Olive 8 certainly had its ups and downs. We’ve written about it over 77 times!
Here’s a blast from the past:
October 23, 2006: They add three more floors
January 31, 2007: Developer and contractor part ways
April 30, 2008: Hard Hat Tour of Olive 8
May 2, 2009: Buyers walk from big deposits
June 5, 2009: Williams Marketing gets replaced by CBB
December 14, 2009: Their loan gets renewed
September 19, 2010: 32 units sell at auction
January 9, 2011: Prices reduced 18% in a reset after they switch sales teams for a third time
January 10, 2011: We predict Olive 8 will sell out in 2014 or 2015
March 24, 2011: Announces 1.25% financing
December 2, 2011: We host a party in a penthouse
June, 2013: Sold out
