Blog Pearl District Sold: Rare Pearl District - single level, 3 bedroom Condo

Sold: Rare Pearl District – single level, 3 bedroom Condo

By Living Room Realty, August 28, 2023

THE METROPOLITAN CONDOMINIUMS

1001 NW LOVEJOY ST #1210
Portland, OR 97209

Sold at $1,090,400

   3 BEDROOM |  2 BATH |  1,824 Sq Ft
MLS #23335801 | 2022-2023 TAXES: $21,596.59
HOA DUES: $1311.40/month

Link to Property Website: METROPOLITAN #1210


Sometimes the sale of a home is closing a chapter for some. In this circumstance I was contacted by the representatives of the Estate of my client. There were several decision makers involved with in aiding the Estate sell the properties that were a part of the Estate, but the contacted me about aiding in the sale of their condo in the North End of the Pearl District. The condo was located in the Metropolitan Condominiums, an incredibly amenity rich building, within blocks of 3 of the Pearl’s green spaces (Tanner Springs Park, Jamison Park, and The Fields Park).

Serendipitously, I had originally assisted in the original purchase of this home, so had met the Seller before his passing. His partner still lived in the home, and she was gracious enough to tour me through and give me some context of the property before she moved out. It had some wear and tear, but finding a true 3 bedroom home that was not a penthouse, was unique across Pearl Condo’s. We prepped it for the market, got painting and touch up work done, had it staged thanks to Marta of Polka Dot Interiors, and were ready for the market by the Summer. We were optimistic about it, but also knew that there were several homes in the building for sale and the condo market has not been robust for a while now. It took a few months, before we got our first offer. While we hoped for the best in that deal, it was not to be. Those buyer’s opted to terminate the transaction, and buy a similar home that had more recent updates. Sometimes persistence and patience is key, and my client’s stuck with me throughout the shifting markets. Entering our 2nd Summer, things seemed on the uptick. Showings were coming more frequently, optimism about the downtown core recovering from the pandemic seemed to abound, and it seemed the Pearl District was coming back to life. The fountain at Jamison was running again, and the splashes of children enjoying summer echoed up into the open windows of the surrounding buildings.

Soon we had 2 parties circling on the home, after several months of deliberation. One decided to write, and both myself and the representatives of the Estate felt good about their offer, so we accepted and were under contract. It takes a good broker on the other side of a transaction to navigate bumpy waters, while trying to keep both parties of a transaction from feeling those bumps. This one came with the unique challenge of the building manager for the Association Management Company leaving the company, and not giving us a point of contact to address the numerous questions, updates, and most importantly, delivery of the condo documents in a timely manner. To complicate things, the Personal Representative for the Estate was never assigned access to the owner’s portal, so he had no way of obtaining the documents on his own. Thankfully, a new building manager was assigned, 2 days prior to us going into contract and we were suddenly wading through what appeared to be a lot of delayed updating from the building document side, as well as the new manager familiarizing herself with the building and trying to find the information we were looking for.

I was lucky enough that my co-op broker on the other side of our transaction was the wonderful Dana McKillop of Windermere Realty Trust. Her level of communication while we attempted to gather the requested information for her client’s was second to none. Working together to come up with solutions, navigate those bumps, and get all contractually obligated information to her client’s was a hurdle, that was ultimately accomplished. Last Friday, we were able to get this home closed and sold. What was the end of a chapter for some, will be a new one for others.

To my client’s, Joe & Carsten, thank you for your patience and understanding throughout what was a lengthy sale. Your level headed dispositions and trust in me helped us get here, and I appreciated it immensely.

To Karen, thank you for your grace in allowing us to tour your’s and Howard’s home while you were still living there and processing your loss. I appreciate your kindness and understanding in what I know was a difficult time.

To Dana, I hope your client’s love their new home and am excited for them to make it their own. I truly do hope we get to work together again in the future, as I know whoever you are representing will be keenly looked after and represented by the best.

Cheers to all involved and Thank you.


PROPERTY DESCRIPTION

Unique opportunity to own a single level, 3-bedroom home in the prestigious Metropolitan Condominiums. This SW Corner unit features 3 true bedrooms & 2 bathrooms. Inside you will find a chef’s kitchen with gracious pantry, gas cooktop island, and Viking stainless steel appliances. A large living room with a gas fireplace in the corner and built-in bookcases for extra storage are highlighted by wonderful light and expansive 12th Floor views. The large covered deck allows you to step outside and look over into Jamison Park and catch views of Mt Hood to the east. 2 deeded parking spaces (P-118 & 119), & 1 deeded storage unit (S-69) are included. The Metropolitan Condominiums is an amenity rich community, which features the following for the community: secure lobby with concierge service, wine storage room, gym, lounge, meeting room, & 2nd floor rooftop outdoor space with guest suites available for owners to rent out when needed. Surrounded by Tanner Springs Park a block to the North, The Fields Park 3 Blocks to the North, and Jamison Park 2 blocks to the South, you have access to outdoor green spaces in abundance. Right on the Streetcar Line, Bus Routes, easy access to Freeways and you can quickly cross over the Broadway Bridge to make it to the East Side of Portland. Grocery Store and Markets a few blocks away, and the Pearl District’s finest shopping and dining are minutes away. Come find out what Pearl District living is all about!


 


BUILDING HIGHLIGHTS:

AMENITY RICH BUILDING

  • 24-Hour Concierge Service in a secure Lobby
  • Lounge/Library
  • Meeting Room
  • Wine Storage Room
  • Rooftop Deck on the 2nd Floor, leading to Guest Suites
  • Workout Room
  • Secure Parking Garage, that has the ability to have EV added to parking at cost to Owner

CONVENIENCE AT YOUR DOORSTEP

  • Right in the Streetcar Line, with stops a block away
  • Close proximity to the Broadway Bridge for quick access across the Willamette River to East Portland
  • Portland Union Station is blocks away

PEARL DISTRICT OFFERINGS

  • Food and Dining all around (Can Font, Momoyama, Piazza Italia, Sisters Coffee Shop, Lovejoy Bakers, Carlita’s, Fields Bar & Grill, Andina and so much more!)
  • Breweries, Wine Tasting & Refreshing Sips (Deschutes Brewery, 10 Barrel Brewery, Backwoods Brewing, Von Ebert, Erath Tasting Room, Olive & Twist,
  • Safeway Grocery & Basics Market a few blocks away, & Whole Food towards to South End of the Pearl District
  • Shopping galore (Powell’s Bookstore, REI, Anthropologie, Room & Board, MadeHere, Madewell, Posh Baby, to name a few)

 

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