The Challenge
Market Place Tower is a highly sought-after condominium community just north of the iconic Pike Place Market in Downtown Seattle. Constructed in 1988 and consisting of only seven homes, this 18-story private retreat offers quintessential Seattle views, including the waterfront, ferries making their way across Puget Sound, and sunsets over the Olympic Mountains. Unlike most buildings in the city, Market Place Tower provides an elevated level of service with a 24-hour, live-in concierge, ensuring privacy and discretion for its residents.
In the fall of 2008, at the onset of the global financial crisis, the owner of the penthouse—a 4,663-square-foot residence with a 2,711-square-foot private terrace—approached us to sell his home. This was no ordinary condominium; it was an estate in the sky, complete with a solarium, library, multiple terraces, a verdant lawn, and an infinity lap pool that stretched across the rooftop, mirroring the horizon.
The challenge was twofold: First, the penthouse had no direct comparables in the downtown market. With no precedent at this price point, appraisers and market experts repeatedly warned that securing a buyer would be difficult and that the home could take over a year to sell. Second, we were launching this listing into a volatile economic climate, requiring us to generate not just interest, but confidence in the market value of such an exceptional property.
Our Strategy
Successfully marketing a residence of this magnitude required more than traditional listing techniques. To overcome concerns about market value and showcase the home’s unparalleled features, we developed a comprehensive strategy centered on storytelling, strategic positioning, and high-impact digital engagement.
First, we created a custom website, an uncommon marketing tool at the time, to immerse prospective buyers in the experience of living in the penthouse. Inspired by navigational coordinates, the site was structured around the four cardinal directions—North, South, East, and West—offering an interactive way to explore the residence’s sweeping views of Puget Sound, Elliott Bay, and the city skyline. This thematic approach reinforced the home’s connection to its surroundings and created a compelling visual and emotional narrative.
To further establish the penthouse’s uniqueness, we developed a highly curated architectural photography campaign that not only captured the panoramic views but also conveyed the seamless indoor-outdoor living experience. The images emphasized the grandeur of the rooftop terrace, the infinity pool’s interplay with the horizon, and the penthouse’s sophisticated interior design.
Beyond visual storytelling, we tackled the pricing challenge head-on by conducting an in-depth market analysis. We engaged appraisers and market analysts to assess the penthouse’s value in the absence of direct comparables. Understanding the concerns of potential buyers, we positioned the property as a once-in-a-lifetime opportunity, highlighting its scarcity, exclusivity, and unparalleled amenities.
Our approach went beyond selling square footage—it was about selling a lifestyle. We leveraged targeted outreach to high-net-worth individuals, knowing that the right buyer would need to connect emotionally with the home’s unique attributes.
Explore the media coverage:
The Outcome
Our strategy delivered results. In just 40 days, the penthouse sold for $9.7 million to a buyer whose personal connection to the navigational theme made the home irresistible. A shipping magnate based in the South Sound area, she was captivated by the idea of watching her company’s container ships enter and exit the Port of Seattle from her penthouse deck and observatory.
Not only did this sale set a record as the highest-priced condominium sale in Seattle in 2008, but it also defied market expectations at a time of extreme financial uncertainty. What was predicted to be a long, uncertain sales process instead became a landmark transaction—proving that a well-crafted narrative, targeted exposure, and strategic positioning could elevate a one-of-a-kind home to its rightful audience.
