A University District townhome development site at 4741 18th Avenue NE in Seattle sold for $1,640,000, which translates to $380-per-land-square-foot. Seattle-based SeaLevel Properties sold the property to an unnamed private developer.
Located within the University of Washington’s Greek Row, the development site is entitled for five efficiently designed townhomes offering a combined 36 bedrooms intended for student housing.
Kidder Mathews’ Simon and Anderson team of Dylan Simon, Jerrid Anderson, and Matt Laird handled the listing. The buyer was self-represented.
Laird says, “Although there are some near-term challenges facing the University District, we fully believe in the long-term growth and desirability of the neighborhood. This project is perfectly poised to take advantage of that upside upon its completion in 2022.”
The transaction was completed in 63 days from the start of marketing to the close of escrow.
Dennis Kaiser is Vice President of Content and Public Relations for
Connect Commercial Real Estate. Dennis is a communications
leader with more than 30 years of experience.
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