Seattle luxury-condo complex Escala will raise prices
The market for new downtown condos has cooled. Many potential buyers are backing off, fearful of recession and wary of the national real-estate downturn.
So Escala, the 31-story luxury complex under construction at Fourth Avenue and Virginia Street, is raising its prices?
Developer Lexas Cos. said this week that on June 5 it will raise the asking prices 3 to 7 percent for about 70 unsold units that have been on the market since last spring.
Another 22 units that will be released for sale May 1 also will have higher price tags.