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June 13, 2005 // UPDATED 1:55 pm - April 26, 2007
By: David Brauer
David Brauer

The Falls and The Pinnacle

110 1st Ave. NE and 20 NE 2nd St., 524-1600, www.fallsandpinnacle.com

The latest riverfront mega-conversion, 257 prime riverfront units at the East Bank's Falls and Pinnacle started becoming condos in May.

For the 19-story Falls, it's back to the future. Built in the early '80s as condos, it succumbed to the subsequent condo bust, only to return to its home ownership roots two decades later. The 28-story Pinnacle has always been apartments, so its conversion is its first.

The Falls boasts an asymmetrical stepped-back exterior that creates unique floor plans and mostly river views; around 40 percent of the units look out over the surrounding neighborhood. The Pinnacle is a more conventional high-rise that offers taller perches over riverfront or neighborhood. Both buildings should lure those who crave postcard views of Downtown.

The 87 Falls units consist of:

- 33 one-bedroom units, 886 to 1,025 square feet, $200,000-$345,000.

- 14 one-bedroom-plus-dens, 1,195 to 1,791 square feet, $250,000-$400,000.

- 22 two-bedroom units, 1,223 to 1,595 square feet, $275,000-$614,000.

- 18 two-bedroom-plus-dens, 1,591 to 2,225 square feet, $489,000-$795,000.

The Pinnacle, generally speaking, comes a bit cheaper:

- 45 studios, from 400 to 581 square feet, are $90,000 to $176,000;

- 73 one-bedrooms, from 741 to 976 square feet, are $175,000 to $315,000.

- 43 two-bedrooms, from 1,162 to 1,272 square feet, are $245,000 to $445,000.

- Nine two-bedrooms-plus dens, 1,385 square feet, are $400,000 to $500,000.

For both buildings, Downtown-side units are generally 10-20 percent more than on the neighborhood side.)

Despite the separate names and differing configurations, the Falls and Pinnacle share common spaces - soon to include a modern 5,000-square-foot gym, a theater-type screening room and a yoga room, among other au courant perks. Residents also mingle in three generous courtyards whose designs have held up surprisingly well over the years.

Monthly association dues are pegged at 38.4 cents per square foot, or $384 per 1,000 square feet. Underground parking is available. Card readers control access to the building, and developer Crescent Heights promises 24-hour security.

Back in the day, the Falls and Pinnacle were linked to the Riverplace retail/entertainment development. That cratered, but the revival of the surrounding neighborhood - sporting old Northeast favorites such as Surdyk's and Kramarczuk's and newcomers like the Times Bar and Bobino - provides a new selling point.

As of early June, 42 of the 257 units had been reserved. The last renter's lease is up in June 2006, though renters could stay beyond that date depending on how sales go.