The Metro Condos for Sale — Salt Lake City, Utah

About The Metro Condominiums in East Downtown Salt Lake City

The Metro is a 121-unit, seven-story mixed-use building at 350 South 200 East, developed by Wood Property Development under Alan J. Wood, with the project team assembled in 2004. It combines ground-floor retail, office space and residences over roughly 250 structured parking stalls, plus additional public parking built for Salt Lake City. Among downtown Salt Lake City condos, it sits on the East Downtown side — the quieter, more residential half of the core, a block from the Salt Lake City Public Library.

Its sales story is one of the more remarkable in Salt Lake real estate. The February 2007 launch was the most successful release the local market had seen, moving more than $20 million of inventory in ten days. By the time the Certificate of Occupancy was issued for all 121 units at once on July 15, 2008, 106 units — about 88% of the building — were already pre-sold on non-refundable deposits averaging $35,000. Lehman Brothers filed for bankruptcy exactly two months later. The Metro still sold out for more than $40 million gross, closing and moving in roughly thirteen households a week through the late summer of 2008 while the rest of the country’s condo market froze. That timing is worth knowing, because it explains both the building’s solid original construction budget and its unusually engaged early ownership base.

Residences run from about 744 square feet to roughly 1,391 square feet across one, two and three bedroom plans. The consistent interior language is nine-foot ceilings, large windows, open great rooms with elevated bar seating, gas fireplaces, granite or quartz counters, hardwood floors, walk-in closets and primary baths with separate tub and shower. Outdoor space varies enormously and drives value: some units have a standard balcony, while a handful carry genuinely rare terraces — one southeast corner residence has a 660-square-foot private patio, one of only three like it in the building, and another offers nearly 300 square feet of private patio. Two reserved parking stalls plus a storage locker are common in the larger plans.

The amenity floor is the third-level plaza, where you will find the owner lounge and club room, a landscaped deck with hot tub and barbecue, and the fitness room. Add controlled access with on-site security, on-site property management, a well-appointed lobby with private mailboxes, secured parking and owner storage lockers — and a fenced dog run on the north side of the building. On pets, The Metro is genuinely permissive: the association allows up to two pets, dogs, cats or birds, with no size restriction, which separates it sharply from buildings like The Club Condos, where the limit is twenty pounds. Accessibility is also unusually strong: every unit was designed to ADA Type B standards and three were built fully accessible to Type A, with 36-inch hallways, no-step entry and single-level living appearing across recent listings.

The building has just come through a heavy capital cycle, and that is mostly good news for a buyer today. Three special assessments over roughly three years funded work that is now complete: all concrete flatwork including patios, balconies, railings and drains was replaced and sealed, the exterior stucco and flashings were redone, the third-floor plaza was fully renovated, and every window in the building was replaced with Pella windows. Sellers in recent listings have noted their assessments were paid in full. The cost side to understand going in: monthly dues in recent records ran approximately $505 to $680, and there is a separate monthly utility assessment of roughly $114 covering water, gas, sewer, trash and air-conditioning electrical — owners pay their own electricity and internet. At closing, expect a reinvestment fee equal to three times the monthly dues plus a $300 new-owner setup fee.

Location is the reason people keep choosing this address. Library Square TRAX on the Red Line is less than a block away, inside the Free Fare Zone — about seven minutes to the University of Utah campus and stadium, twelve to University Hospital, and a straight ride to the airport. Gallivan Center, Eccles Theater, the Delta Center, restaurants and nightlife are all walkable, I-15 is minutes away, and six ski resorts sit within roughly a forty-minute drive. Salt Lake City has also planned the Green Loop for 200 East, a linear park concept that would run directly past the building. School assignments in recent sales varied between Wasatch and Liberty elementary, with Bryant Middle and East High consistent across records, all within the Salt Lake City School District; McGillis School, Rowland Hall-St Mark’s and Judge Memorial appear as nearby private options. The building sits in the 84111 zip code.

Buying or selling at The Metro? Sell for less commission at just 1.5% instead of the traditional 3%, or take a 50% commission refund at closing on a purchase. On a $440,000 condo, seller savings are approximately $6,600 and the buyer refund is approximately $6,600 — roughly three times the building’s reinvestment fee. As the sold data below shows, every recent closing here landed below original list, so pricing judgment is worth more than the commission line. Aaron Peters is a licensed discount broker and the owner of DiscountAgent.com, personally handling every Wasatch Front transaction since 2006. View All Downtown Salt Lake City Condos →

Recent Sold Market Snapshot

The Metro Condominiums Sales

Drawn from eight Metro listing records in the Wasatch Front Regional MLS between July 2025 and August 2026, four of which closed. In a 121-unit building with wildly different amounts of private outdoor space, read the per-foot band as a range of products rather than one market.

Figures derived from recent Metro Condominiums MLS records and are approximate. Utah is a non-disclosure state; individual sale prices are not published. Private outdoor space varies from a standard balcony to terraces of several hundred square feet, which widens the per-foot band considerably. WFRMLS data revises as late closings report. Contact Aaron for current comparable data on a specific condo.

Finding One • For Sellers

Not one recent seller got their asking price

All four recent closings sold below original list, with a median near 93% — and three of the four landed around 92%. Median time on market was 97 days. The one exception, which closed at 99% of list, was also the fastest at 34 days, and it launched at a price the market accepted immediately.

The active inventory is repeating the pattern, only worse. One condo launched and has since cut roughly 17% from its original asking price; another has cut about 8%. Both are still on market after eleven and twelve weeks respectively. On a mid-range Metro condo, a 17% reach costs more than $85,000 — and a full listing commission is a fraction of that.

Practical takeaway: this building does not reward optimism. Price to the closings, not to what the neighbor is asking, and understand that buyers here are running the same numbers. Then keep the 1.5% difference rather than handing it to a full-commission listing.

Finding Two • Carrying Cost

The listed dues are not the monthly number

Base dues ran roughly $0.49 to $0.68 per square foot per month, averaging about $0.54. But The Metro also bills a separate monthly utility assessment of roughly $114 covering water, gas, sewer, trash and air-conditioning electrical — so the real monthly obligation on a typical two-bedroom is closer to $640 to $680 than the $526 on the listing sheet:

Practical takeaway: budget the closing side too. The reinvestment fee is three times the monthly dues plus a $300 setup fee — roughly $1,800 to $2,300 depending on the unit. One recent HOA remark also warned dues were set to rise about 10% in January. Get the current dues, the utility assessment and the transfer figure in writing before you set a closing budget; a 50% commission refund from DiscountAgent.com covers all of it several times over.

Finding Three • For Buyers

The hard capital work is finished — and paid for

Three special assessments over roughly three years are complete. They funded replacing and sealing all concrete flatwork — patios, balconies, railings and drains — redoing the exterior stucco and flashings, fully renovating the third-floor plaza, and replacing every window in the building with Pella windows. Multiple recent sellers documented that their unit’s assessments were paid in full. Buying into a 2008 building right after its envelope has been rebuilt is a materially different proposition than buying in ahead of that work.

Outdoor space is where the value hides. Per-square-foot results ranged from about $353 to $510, a 44% spread, and the top of that band belongs to units with genuinely rare private terraces — one southeast corner residence carries a 660-square-foot patio, one of only three in the building. Note that MLS square footage does not include those terraces, so the per-foot figure understates what a terrace unit actually delivers.

Practical takeaway: two features here are scarce downtown and worth paying for — no pet size restriction with an on-site fenced dog run, and rental rights that recent listings describe as transferable to a new owner. A rental cap does apply, so confirm the current percentage and whether the specific unit’s rental rights convey, in writing, before you underwrite an investment purchase.

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