Investor Jyoti Paulhas his head in the clouds. Almost literally.
The former Microsoft director of product development and founder of Bellevue-based Paul Northwest Investments has been immersed in developing three luxury penthouses atop the Escala building at 1920 4th Ave. in Seattle — a prime address for many of this area’s leaders.
“I have always loved condos and have been long fascinated by Escala,” Paul said. “And when I got the opportunity to buy these empty, never-been-lived-in shell units from the bank for $5 million, I knew that was a very good deal. I also knew that I would have to spend a lot of money developing them and making them really special and unique. That is what sets these units apart.”
Paul estimates the build-outs for these units — which feature a fresh, modern design — have cost more than $400 per square foot.
The first of his condos is on the 31st floor of Escala, spans 2,543 square feet and faces southeast.
“It’s a top floor, and has the highest ceilings in the building, with walls of windows that go all around.” Paul said.
The epicurean kitchen has all Miele appliances, three ovens, a built-in coffeemaker and built-in wine tower. The cabinetry has a linear rail system and stretches from floor to ceiling.
The countertops feature custom stone work and four large pieces of slab quartz wrap around the fireplace.
Paul’s other two Escala penthouses, which are twice the size of the first condo, will be listed in the $9 million range. Those will hit the market toward the end of the year. He described the first one as his jewel box.
Upscale amenities at Escala include 24-hour concierge service, a fitness center, restaurant/bar area, and large party or entertaining spaces.