Seattle Condo Authority Network • Downtown
100-unit Downtown mid-rise at 500 Madison St, completed 2001. Established condo building at the intersection of 5th Ave and Madison St in Seattle's central business district.
Building Profile
| Building Name | 5th and Madison |
| Address | 500 Madison St |
| Year Built | 2001 |
| Total Units | 100 |
| Stories | Data to be verified |
| Neighborhood | Downtown, Seattle, WA |
| HOA Fees | $400–$850/mo (est.) |
| Price Range | $375K–$1.1M+ |
| Rental Policy | Data to be verified |
| Building Type | Mid-Rise |
About This Building
5th and Madison is a 100-unit condominium mid-rise at 500 Madison Street in Downtown Seattle, completed in 2001. The building occupies the corner of 5th Avenue and Madison Street in the heart of the central business district, one of Downtown's most accessible addresses.
The 5th and Madison location places residents within short walking distance of the Seattle Public Library (a Frank Gehry landmark), Benaroya Hall, the Seattle Art Museum, and the Pike Street retail corridor. Link Light Rail at Westlake Station provides regional transit connections.
As a 2001 construction, 5th and Madison offers over two decades of HOA reserve accumulation and an established ownership community. The mid-rise scale and early-2000s vintage position the building as one of Downtown's value options relative to newer luxury towers.
Jeff Reynolds maintains sales data and HOA financials for 5th and Madison within the Seattle Condo Authority Network. Stories count should be verified; contact Jeff for current listings and Downtown buyer strategy.
Buyer Analysis
5th and Madison is a 100-unit Downtown building at the convergence of the business district and First Hill. Jeff Reynolds's assessment covers the building's advantages in this underserved pocket, key cautions for a 2001-vintage building, and questions every buyer should answer.
Positioned at the top of Madison Street where the Downtown core meets First Hill's medical district. This location serves both office professionals and healthcare workers—a dual-demand base that supports consistent resale interest.
100 units creates manageable HOA governance and a strong sense of community among owners. Major decisions require fewer votes and large-scale disputes are less common than in 500-unit complexes.
Buyers can review two decades of actual financial data. A building that has been self-governing since 2001 has resolved most early-stage HOA structural issues. The track record is verifiable.
Downtown office towers, Swedish Medical Center, Virginia Mason, and First Hill's amenity corridor are all within walking distance. Strong walkability from multiple anchors supports long-term resale value.
At 24 years old, significant capital expenditure cycles are likely approaching or already underway. Review the reserve study for percent-funded status and upcoming major project timelines.
100 units transacts less frequently than larger buildings. Comparable sales for appraisals require care—pricing analysis benefits from an agent with building-specific expertise.
What does the most recent reserve study say about percent-funded level and projected capital work? Ask Jeff for the study before you write an offer.
With a building of this vintage, are there any special assessments currently proposed or recently completed? HOA meeting minutes will reveal this.
Advisory
5th and Madison serves buyers looking for a manageable, established Downtown building with access to both the business district and First Hill. These profiles describe who consistently fits the building.
Swedish, Virginia Mason, and the broader First Hill medical campus are all within easy reach. Healthcare professionals who want to minimize commuting friction while living in a true condo building—rather than a high-rise rental—consistently find 5th and Madison's location compelling.
Buyers who have toured 200–700-unit towers and found the scale impersonal tend to appreciate 5th and Madison's community feel. 100 units is small enough to know your neighbors; large enough to keep HOA costs and complexity manageable.
At pricing below most comparable 2007+ Downtown buildings, 5th and Madison delivers a genuine Downtown address with walkability to Seattle's core. Buyers who run price comparisons and prioritize location over building age consistently find it competitive.
20+ years of proven governance and a stable neighborhood position make this a credible long-term hold. Buyers who plan to own for 7 or more years benefit from the building's established reputation and the dual-demand catchment of Downtown and First Hill.
Market Data
5th and Madison prices reflect its Downtown-First Hill location and 100-unit scale. The range is accessible relative to larger Downtown towers.
Entry-level Downtown residences. Unit condition and floor level drive spread within this range. Original 2001 finishes at the lower end; renovated units toward the upper.
The primary resale segment. Views toward Downtown or Elliott Bay on upper floors carry meaningful premiums over city-facing lower floors.
The upper end of the building's range. Larger floor plans on higher floors with stronger view corridors.
5th and Madison offers some of Downtown Seattle's most accessible price points for a genuine city-center address. Comparable sales are thinner than at larger buildings but sufficient to support reliable appraisals for well-priced units. Prices shown are general market ranges; contact Jeff Reynolds for current listings and recent closed sale data.
Knowledge Base
Before buying any Seattle condo, these guides answer the questions every buyer should resolve about HOA finances, financing eligibility, and closing requirements.
What condo HOA fees cover, how they're calculated, and what to look for in a building's fee structure.
How reserve funds work, what percent-funded means, and why the reserve study matters before you buy.
How rental caps, owner-occupancy ratios, and HOA delinquency rates affect your loan eligibility.
What the resale certificate contains, why it matters, and the key red flags buyers should watch for.
Explore More
Other condos in Downtown Seattle at a similar price tier, with links to full building profiles, buyer analysis, and current market data.
See all buildings: Browse all Downtown Seattle condo buildings →
Frequently Asked Questions
5th and Madison is located at 500 Madison Street, Seattle, WA, at the intersection of 5th Avenue and Madison Street in Downtown Seattle. The building is walking distance from the Seattle Public Library, Benaroya Hall, and the Seattle Art Museum. Westlake Station (Link Light Rail) is within easy walking distance.
5th and Madison has 100 residences. The building was completed in 2001. Contact Jeff Reynolds for current unit mix, floor plan details, and recent comparable sales.
5th and Madison was completed in 2001. With over two decades of ownership history, the building has an established HOA with mature reserves. Units reflect individual owner renovation decisions across more than 20 years of ownership cycles.
HOA fees at 5th and Madison are estimated at $400–$850 per month depending on unit size. As a 2001 building with a well-established HOA, fee structures are mature and reserves are established. Contact Jeff Reynolds for verified current figures.
5th and Madison has one of Downtown Seattle's highest walkability scores. The building's 5th Avenue address puts residents within walking distance of Benaroya Hall, the Seattle Art Museum, the Seattle Public Library, and dozens of restaurants. Westlake Station provides light rail access throughout the region.
Your Downtown Condo Specialist
Jeff Reynolds is Seattle's leading specialist in urban condominiums, with deep expertise in 5th and Madison and every building in the Seattle Condo Authority Network. If you're buying or selling at 5th and Madison, Jeff has the data, the relationships, and the track record to represent you.
Jeff tracks every sale at 5th and Madison, maintains HOA financial data, and knows which floor plans and view orientations hold value best. This depth of building-level knowledge is what separates a specialist from a generalist.
Jeff Reynolds • Seattle Condo Authority Network • jeff.reynolds@compass.com
Current listings, recent sales, HOA financials, and buyer strategy. No obligation.