Escala

25 exterior NEW

We review association documents and resale certificates for clients on a regular basis. Every week we post stats and something fun or interesting.

This week it is Escala, located downtown Seattle.

  • Average Sale Price – ~$923 per sq.ft. (based on 12 sales during the last 6 months)
  • Currently For Sale:
  • Average Monthly Assessment – $0.75 per sq.ft. (so if your condo is 1,000 sq.ft you’d be paying ~$750/month)
  • Move-in Fee – yes, $750
  • Pets – allowed (subject to “typical” guidelines and restrictions)
  • Rental cap – yes, 20%
  • EQ insurance – yes
  • Reserve funding – 50% (at least 70% is generally recommended)
  • Risk of special assessment – No

Fun facts – Luxury and convenience scream at Escala. How about roughly 30,000 sq.ft. of amenities? Outdoor patio, that is fully furnished and equipped with a stone fireplace, huge fitness center complete with two lap pools, yoga studio, hot tub, and steam rooms, a luxurious spa, wine cave, a fully appointed kitchen, restaurant area, and bar that can be reserved for large parties, meetings, or even a wedding, a state of the art theater, and just about everything else one can think of.

From a governance perspective, the Board seems to be a progressive forward thinking group of professionals. Escala’s mission is “To maintain, preserve and advance the building and its related assets” and the vision is quite simple yet very pronounced – “To be one of the best properties, in one of the best locations, in one of the best cities“. Governing any venture with that as the main guiding principle without a doubt elevates and promotes success. Escala has an easy to follow policy for just about everything.

Want to know how to go about installing a charging station for your electric vehicle? There is a write up on that. It even describes the fact that some electric vehicles (e.g. Tesla) will require two additional electrical circuits and some (e.g. Nissan Leaf) will be ok on a single trickle battery charge circuit.

How about tipping one of Escala staff members? After a 2-year successful pilot program a policy was drafted and adopted.

Annual unit inspections, optional home warranties, and a budget line item for emergency preparedness are available as well.

All of the above is much easier to accomplish when you have an engaged community of owners actively participating on 10+ committees, which is true in Escala’s case.

Want us to help you review a resale cert?
Have an interesting fact to share about your association?
Need help buying or selling? We are here for you!

And of course a fancy disclosure has to follow because attorneys tell us it is a good idea – all information contained herein is based on third party records, is not guaranteed, and is subject to change. We simply review, tell you what we read in someone else’s docs, and hope whatever they have is / was correct at that time.