Lighter Side: 50 shades of property appreciation

by Olivia D'Orazio03 Oct 2014
All sales reps should be so lucky to have listings with the kind of notoriety – or is that infamy? – associated with the setting for E. L. James’ 50 Shades of Grey.

Owners at Escala – the luxury condo building in Seattle that served as the setting for the steamy book series – are enjoying a spike in price appreciation, thanks to the book’s protagonist, Christian Grey.

Agents selling those properties are fielding a slew of queries from mostly female buyers looking to lay their hands on a unit below the penthouse suite that the character Grey mounted his sexual escapades.

All the attention the Escala has received is doing wonders for its value: the median sales price for the building has spiked 62 per cent since the first book was released in the spring of 2012; though the building was already on its way up, with median sales rising 75 per cent from 2010.

But fans will likely be disappointed to know that there isn’t actually a helicopter landing pad on the roof, nor does the penthouse include the notorious red room. The penthouse is actually owned and occupied by a family from Oregon, who paid $6.2 million for the suite in 2013.

Instead, the building has had to boost security measures, protecting real-life residents from rabid fans who are quite eager to see the home of the fictional character.
 

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