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New conversion: Biscayne

By Matt Goyer June 1, 2006

I reader living in the apartment building the Egypt on Wallingford Ave N. wrote in to say that it’s being converted into a condo named the Biscayne. Does anyone have any details on this project?

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14 responses to “New conversion: Biscayne”

bg says:

June 24, 2006 at 1:39 am

There’s a sign up in front:
http://www.thebiscaynecondos.com – nothing on the site until next week though
-starting in the $200’s
-1B/1BA & 2B/1BA
-opening July 2006, but that might just be the office
bg says:

June 23, 2006 at 8:39 pm

There’s a sign up in front:
http://www.thebiscaynecondos.com – nothing on the site until next week though
-starting in the $200’s
-1B/1BA & 2B/1BA
-opening July 2006, but that might just be the office
grace says:

June 26, 2006 at 5:15 am

I have been watching the Biscayne being developed as I drive by every day on my way to work. It is really looking good with the new colors and landscaping. I also got a peek at the model unit and the finishes are very sophisticated. They have units under $300,000 too and as soon as they start showing them this next month, I am hoping that I can find one there.

It is approximately one block off of Gas Works Park and the Burke Gilman trail(I am a runner so that is nice) Also it is right next to coffee shops, a breakfast place and Essential Baking Co.. And within walking distance of Fremont and all that has to offer.
grace says:

June 26, 2006 at 12:15 am

I have been watching the Biscayne being developed as I drive by every day on my way to work. It is really looking good with the new colors and landscaping. I also got a peek at the model unit and the finishes are very sophisticated. They have units under $300,000 too and as soon as they start showing them this next month, I am hoping that I can find one there.

It is approximately one block off of Gas Works Park and the Burke Gilman trail(I am a runner so that is nice) Also it is right next to coffee shops, a breakfast place and Essential Baking Co.. And within walking distance of Fremont and all that has to offer.
Vito says:

July 7, 2006 at 2:02 am

About the Biscayne — was previously known as the Egypt when they were rental apts. Building has had a lot of structural, siding and roof problems (was cheaply built in the first place) — buyer beware, as you will likely be assessed the cost of repairing these problems when they occur again – the developer will be long gone.

BTW, Grace sounds like she works for the developer (this is known as viral marketing). Take what she says as coming from a salesperson or their rep. The Egypt/Biscayne was built many years ago, after a bitter fight with the neighborhood — they made it shorter than originally planned. It was not been ‘developed’ recently (Grace is either on the payroll or …) — they were attempting to repair the place once again.

Apartment buildings are usually built cheaper than condos; this is an apartment building.

Watch out!
Vito says:

July 6, 2006 at 9:02 pm

About the Biscayne — was previously known as the Egypt when they were rental apts. Building has had a lot of structural, siding and roof problems (was cheaply built in the first place) — buyer beware, as you will likely be assessed the cost of repairing these problems when they occur again – the developer will be long gone.

BTW, Grace sounds like she works for the developer (this is known as viral marketing). Take what she says as coming from a salesperson or their rep. The Egypt/Biscayne was built many years ago, after a bitter fight with the neighborhood — they made it shorter than originally planned. It was not been ‘developed’ recently (Grace is either on the payroll or …) — they were attempting to repair the place once again.

Apartment buildings are usually built cheaper than condos; this is an apartment building.

Watch out!
Martha says:

July 20, 2006 at 11:26 pm

I have a client is purchasing a unit in the buiding. I’ve seen the inspection report and remedies required by Washington State Law (RCW 64.34.415). There were some structural defects, but there have also been extensive repairs and reinspections.

Buyers need to verify this information during the contract process. All buyers should receive a Public Offering Statement during the process and typically a 5 business day period to review it.

This is an ongoing issue these days as conversions are becoming increasingly popular and the previous author is correct – many were built differently than some of the new construction condos. As an agent, I make sure my clients are aware of the differences going into it.
Martha says:

July 20, 2006 at 6:26 pm

I have a client is purchasing a unit in the buiding. I’ve seen the inspection report and remedies required by Washington State Law (RCW 64.34.415). There were some structural defects, but there have also been extensive repairs and reinspections.

Buyers need to verify this information during the contract process. All buyers should receive a Public Offering Statement during the process and typically a 5 business day period to review it.

This is an ongoing issue these days as conversions are becoming increasingly popular and the previous author is correct – many were built differently than some of the new construction condos. As an agent, I make sure my clients are aware of the differences going into it.
Ellie says:

July 25, 2006 at 1:15 am

Martha, how serious are the structural defects? Do you mean that there has been extensive repairs and reinspections after your clients inspection report and remedies were required?

Should we be looking at this condo?
Ellie says:

July 24, 2006 at 8:15 pm

Martha, how serious are the structural defects? Do you mean that there has been extensive repairs and reinspections after your clients inspection report and remedies were required?

Should we be looking at this condo?
Martha says:

August 2, 2006 at 5:40 pm

Ellie-

Sorry for the delay in my response. I

The repairs and reinspections on the building as a whole took place before the units were listed on the market. It is required by Washington State Law. The info is in the Public Offering Statement that is provided to purchasers in contract. Buyers have an opportunity to review this document including all of the repairs and decide if they want to continue in the contract. This is true of any conversion.

I’m not an inspector, so I am leery of offering my opinion of the condition of the structural defects. However, I will say I’ve seen worse in conversions. They did perform extensive repair work prior to releasing the units on the market. My client felt comfortable that the issues had been addressed.

At this point, most of the prime units in the building have sold. If you’re going to go with a condo, I think getting a good unit location in the building is very important for resale value.

There is another conversion coming at 3333 Wallingford Ave N called the Tavona. They waited to release any price info until the Biscayne sold most of their units. It’s priced even higher than the Biscayne. However, the building appears to be nicer and the views look like they are going to be even better. It’s located between the Biscayne and the Regatta.

1BR’s that I’ve seen are starting around $350K. More to come. The sales center and model is not open yet. I am scheduling a time to tour what’s available.

Just FYI – I’m completely independent of these projects. I’m an associate broker in downtown Seattle who works mostly with condos. I have a lot of clients who purchase condos all around Seattle. I just wanted you to know I’m trying to present an unbiased opinion and I certainly don’t want to mislead anyone.

If you have any questions, I can give you a more timely response through my email: [email protected]. Also, I’m happy to send you what I have on the Tavona at this point.

Take care & have a great day.
Best,
Martha
Martha says:

August 2, 2006 at 12:40 pm

Ellie-

Sorry for the delay in my response. I

The repairs and reinspections on the building as a whole took place before the units were listed on the market. It is required by Washington State Law. The info is in the Public Offering Statement that is provided to purchasers in contract. Buyers have an opportunity to review this document including all of the repairs and decide if they want to continue in the contract. This is true of any conversion.

I’m not an inspector, so I am leery of offering my opinion of the condition of the structural defects. However, I will say I’ve seen worse in conversions. They did perform extensive repair work prior to releasing the units on the market. My client felt comfortable that the issues had been addressed.

At this point, most of the prime units in the building have sold. If you’re going to go with a condo, I think getting a good unit location in the building is very important for resale value.

There is another conversion coming at 3333 Wallingford Ave N called the Tavona. They waited to release any price info until the Biscayne sold most of their units. It’s priced even higher than the Biscayne. However, the building appears to be nicer and the views look like they are going to be even better. It’s located between the Biscayne and the Regatta.

1BR’s that I’ve seen are starting around $350K. More to come. The sales center and model is not open yet. I am scheduling a time to tour what’s available.

Just FYI – I’m completely independent of these projects. I’m an associate broker in downtown Seattle who works mostly with condos. I have a lot of clients who purchase condos all around Seattle. I just wanted you to know I’m trying to present an unbiased opinion and I certainly don’t want to mislead anyone.

If you have any questions, I can give you a more timely response through my email: [email protected]. Also, I’m happy to send you what I have on the Tavona at this point.

Take care & have a great day.
Best,
Martha
Tim says:

September 7, 2006 at 5:14 pm

Tavona friggen sucks, its an apartment conversion except without the conversion. Put it this way, I’m renting one of the units for $1300 a month and it is selling for $650,000. It has no air conditioning. It is not new, the owners sold the complex and they just turned them into condos. Look at the website, there are no pictures of the complex just marketing materials.
Tim says:

September 7, 2006 at 12:14 pm

Tavona friggen sucks, its an apartment conversion except without the conversion. Put it this way, I’m renting one of the units for $1300 a month and it is selling for $650,000. It has no air conditioning. It is not new, the owners sold the complex and they just turned them into condos. Look at the website, there are no pictures of the complex just marketing materials.

New conversion: Biscayne

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