There is sometimes something good that come out of being last. Just ask developer LEXAS Cos. about that in regards to the ESCALA condo tower located in downtown Seattle and they would probably give you a resounding YES!

LEXAS Cos. executed the ceremonial topping off of one of Seattle’s most extravagant condo towers to date this week and they may see good times when sales of the luxury condos start closing this October. Why you may ask?

It just might be because no one has received construction financing for a high-rise project since the summer of 2007. With less competition and nothing slated for the near future, LEXAS Cos. actually raised prices last year despite the downturn in the market and has held steady on those prices up to now.

In addition, they have signed contracts on about 35 percent of the approximately 180 units that are currently for sale. The $350 million building will have a total of 270 to 275 condos when it is completed by JE Dunn Construction Co. later this year.