I’ve seen the signs around LQA. We’ve read the national stories about foreclosures and panicked developers dumping new homes to low bidders. Now comes the press release for the Queen Anne High School Condominiums, a high-end conversion project of a 1909 building previously converted to apartments. On Sunday, March 22, twelve remaining units will be auctioned off from minimum prices of $145,000 (for a studio) to $650,000 (penthouse). The auction house has a separate Web site for more info and registration. The original apartment developer on the project is Lorig Associates, which did a nice job renovating the structure back in 1986. Condo plans began four years ago, but the 137 units (in three linked structures, some new-ish) haven’t been sold too speedily. And now the economy is tanking, of course, making buyers scarce and mortgages difficult.I toured the building two years ago when my sister was condo shopping, and the place had great bones and ample charm. But the floorplans didn’t make a lot of sense. Wonderfully high ceilings and giant windows meant a lot of maxi-studio lofts with alcove bedrooms and not enough storage. The stairways and hallways (common areas for all owners to heat and maintain) were huge; you could park cars in there. Or better, convert them to walk-in closets. There was just no efficiency to the place. And the hike west across Galer St. to Queen Anne Ave. is a looong block-and-a-half schlep. You’d have to drive to get groceries, or invest in a cart to drag. But $145K is a great price, though I doubt anything will sell for minimum bid.
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