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Lumen Unit Works Its White Space

By katrina July 19, 2011

What’s all that white space called again? Oh yeah, negative space. And there’s a fair amount of it to work with in this Lumen listing.

It’s not all negative (space) though…

Just listed for $650K, this unit is described as two homes combined into a single residence which includes 2-bedrooms, 2 baths, open living room, media room, and more. All in 1,287 square feet priced at $503 per. HOA dues are at $857/mo or $.66/sf per month.

Interesting Lumen interiors of times past:

The interiors of this most recent Lumen listing are located at 501 Roy St #T209 in Lower Queen Anne. It last sold for $658K in 2007.

5 responses to “Lumen Unit Works Its White Space”

Guest says:

July 19, 2011 at 6:57 pm

I’ve seen a lot of Lumen units come up for sale, many at prices far below their previous prices. Example: MLS 173982 is a 697 sf studio that sold in ’07 for $434,900 and is now on the market for $189,500. With so many bank-owned and short sale units, I wonder how many people are actually paying those high homeowners dues.

The building looks very modern but also very stark; a lot of the units face out to a featureless courtyard atop a QFC.
Anonymous says:

July 21, 2011 at 4:43 pm

Katrina,
With deep appreciate for your use of a term of art (http://en.wikipedia.org/wiki/Negative_space), and as the agent representing this special space, I’d like to invite anyone who is curious to experience the “space between the notes” (a quote attributed to many). Contact me directly or look for open houses. Additionally, please consider my invitation to you and/or Matt to visit in person; to meet the owners/designers as the Seattle Times did in 2008:
http://seattletimes.nwsource.com/html/pacificnw/2008318120_pacificpnwl02.html.
Anonymous says:

July 21, 2011 at 5:00 pm

Hello Guest,
I recently represented some homeowners who purchased at Lumen and they report the association as active in improving the financial situation at Lumen. There are a few ideas afoot, but it is likely not my right to discuss them here.

Certainly prices have been challenged at Lumen. Because of that, some people think that now is the best time to buy there. One thing about “the bottom” is that we don’t know it until it is past. Example, the Dow closed on March 2, 2009 at 6626.94. Things seemed pretty bad. Since April 2011, the Dow has been between 12,000 and 12,800. Things seem better. When is/was the better time to buy?

Of course, we can’t live in our stock portfolio or meet our neighbors there, so sometimes “life” meets financial consideration.
mattgoyer says:

July 22, 2011 at 1:36 am

Thanks for the link to the Seattle Times article about the condo! Looks like a really great space. We’ll see if I can find some time to swing by.
Guest says:

July 22, 2011 at 2:02 pm

Terry,

That doesn’t really assuage my fears as a prospective home buyer. I am still rather concerned that the people who put 0 to 5% down in 2006 and 2007 are not supporting the building in which their underwater condo unit is located. Unlike my stock portfolio, a condominium can incur major special assessments that, if not met, can harm the integrity of the building for a generation to come.

I would like to know more about the financial state of Lumen as expressed in an open forum, not cached in REALTOR® cliché. My decision to buy a home rests not with whether we’re at “the bottom” but more with the soundness of a building in which a home is a long-term investment.

Lumen Unit Works Its White Space

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