In 2006 Hotel 1000 and Madison Tower was the first project in Seattle to combine a luxury hotel with condominiums. The Kirkland based residential builder Murray Franklyn was the builder and original owner. The architect was Weber Thompson and the original interior design by Dawson Design Associates aimed for a Pan-Asian Northwest vibe.
Only 10 years old, the tower has changed ownership hands a few times and each time it seems to break the state record for dollars paid per hotel room. NY Giants co-owner Jonathan Tisch is the chairman of Loews Hotels & Resorts, the company that made the most recent purchase in 2016.
In 2017, Loews Hotels & Resorts plans to engage in a multi-million dollar renovation of the hotel and restaurant spaces. They will also launch a name change to Loews Regency Seattle at the same time.
When originally built, Hotel 1000 played up its high tech features and customer service. Hotel rooms utilize infared sensors to detect body heat, which gives housekeeping a heads up that you want to keep your head down. The minibar also notifies the front desk when it’s empty so you don’t have to call down for a refill.
Condo owners get to make use of the traditional hotel amenities like room service, the gym, lounges, and valet parking. Owners can also relax at The Spaahh or work on your swing at indoor golf simulator. Condo owners also have access to their own shared rooftop deck with breathtaking views.
Unit 2302 sits one level below the penthouse and has long reaching southwestern views, two bedroom suites, and two parking spaces. No rental cap makes this a good buy for anyone looking to purchase their Seattle retirement condo now while interest rates are low and appreciation is still possible.
Sold: This property is no longer available it sold for $950,000.
Photo Credit: John G. Wilbanks