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Lower QA conversion: Andiamo Condos

By Matt Goyer March 7, 2007

Thanks to Greg for writing in about Andiamo Condos which he checked out this weekend. There are currently 13 units listed on the MLS with an average price of $329,900. (Reader submissions are always welcome!)

Website: http://andiamocondos.com
Neighborhood: Lower Queen Anne
Type: Mid rise, 28 units
Unit types (beds): 1, 2
Square foot range: 463-709
Price range: $279,900-439,900
Number sold: 9 (as of Saturday afternoon)
Conversion: Yes
On sale: On Sale
Occupancy date: Sometime in May

Greg’s thoughts on it:

In general I liked it. The units are well laid out and feel much larger than they are listed. Maybe it’s just me but it feels like prices are starting to shift down into a bit more reasonable levels these days. The finishes where really nice and the decks are quite large. The outside of the building is still completely covered in plastic so you can’t tell what it is going to look like.

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20 responses to “Lower QA conversion: Andiamo Condos”

jo says:

March 8, 2007 at 5:34 am

679 sq feet

Two bedroom / Two bath?

YIKES. That must be some very small bedrooms.
jo says:

March 7, 2007 at 9:34 pm

679 sq feet

Two bedroom / Two bath?

YIKES. That must be some very small bedrooms.
Tim says:

March 9, 2007 at 8:07 am

The bedrooms are certainly not big, but the space is laid out in such a way that it can be used efficiently. It’s difficult to find 2 bed/2 bath condos in lower Queen Anne in this price range. There are some condos that come on the market that have more square footage, but they also haven’t been updated since the 80s. It’s a trade-off of space vs. quality. Andiamo seems to be a quality conversion, and the finishes feel like you are getting a much more expensive condo. It feels like you are getting new construction, without paying the new construction price.
Tim says:

March 9, 2007 at 12:07 am

The bedrooms are certainly not big, but the space is laid out in such a way that it can be used efficiently. It’s difficult to find 2 bed/2 bath condos in lower Queen Anne in this price range. There are some condos that come on the market that have more square footage, but they also haven’t been updated since the 80s. It’s a trade-off of space vs. quality. Andiamo seems to be a quality conversion, and the finishes feel like you are getting a much more expensive condo. It feels like you are getting new construction, without paying the new construction price.
EconE says:

March 9, 2007 at 11:59 am

$600/sf?

2200 units being reduced to the under $600 s/f should not only bring competition in the form of reduced prices for these units but might even possibly bring a bit of ire to those that paid “full price”

Oh..and with those new lending standards….HA!
EconE says:

March 9, 2007 at 7:59 pm

$600/sf?

2200 units being reduced to the under $600 s/f should not only bring competition in the form of reduced prices for these units but might even possibly bring a bit of ire to those that paid “full price”

Oh..and with those new lending standards….HA!
Anthony says:

March 12, 2007 at 7:38 am

Are you kidding me? I would have thought the builder posted this review. I was very unimpressed when I saw these units. The bedrooms were cramped and the main room stuggled to fit 2 benches a love seat and TV. Dont’ even consider a kitchen or coffee table. While th prices are attractively below $400k, lets not forget the $/SqFt.
Anthony says:

March 11, 2007 at 11:38 pm

Are you kidding me? I would have thought the builder posted this review. I was very unimpressed when I saw these units. The bedrooms were cramped and the main room stuggled to fit 2 benches a love seat and TV. Dont’ even consider a kitchen or coffee table. While th prices are attractively below $400k, lets not forget the $/SqFt.
Tim says:

March 12, 2007 at 2:53 pm

I just bought unit 203, which is a 2 bed 2 bath 679 square foot unit. It is $500/SqFt, which is pretty reasonable for a place that is being completely remodeled. Andiamo was within about 1 block of where we wanted to buy a condo, so it was really a good fit for us. There are definitely 1 bedrooms at this price point that are more spacious, but 2 bedrooms (especially with 2 bathrooms) are not that common. I think that anyone interested in that area should go see it in person to see if it is a livable space for them. It’s hard to base the purchase of a home off of straight numbers.
Tim says:

March 12, 2007 at 6:53 am

I just bought unit 203, which is a 2 bed 2 bath 679 square foot unit. It is $500/SqFt, which is pretty reasonable for a place that is being completely remodeled. Andiamo was within about 1 block of where we wanted to buy a condo, so it was really a good fit for us. There are definitely 1 bedrooms at this price point that are more spacious, but 2 bedrooms (especially with 2 bathrooms) are not that common. I think that anyone interested in that area should go see it in person to see if it is a livable space for them. It’s hard to base the purchase of a home off of straight numbers.
Chris says:

March 12, 2007 at 10:24 pm

For aplain vanilla 5-over-1 conversion with an A- location and few in-unit views seems aggressive. These conversion make me wonder – developer paid maybe $180,000 per unit, drops 20-30k in finishes and external water protection and then sells for $400,000. Even with significant carry costs and sales costs thats a “nice” margin
Chris says:

March 12, 2007 at 10:24 pm

Edit: Forgot the locatiot- this is all woodframe right?
Chris says:

March 12, 2007 at 2:24 pm

For aplain vanilla 5-over-1 conversion with an A- location and few in-unit views seems aggressive. These conversion make me wonder – developer paid maybe $180,000 per unit, drops 20-30k in finishes and external water protection and then sells for $400,000. Even with significant carry costs and sales costs thats a “nice” margin
Chris says:

March 12, 2007 at 2:24 pm

Edit: Forgot the locatiot- this is all woodframe right?
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Lower QA conversion: Andiamo Condos

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