Cushman & Wakefield announced that Seattle’s first office-to-residential conversion since the pandemic is becoming closer to reality. The firm recently advised the sale of Queen Anne Plaza, a four-story, 52,270-square-foot office building plus two levels of parking situated in the heart of Seattle’s central business district’s Lower Queen Anne (Uptown) neighborhood.

Cushman & Wakefield’s Dan Chhan, Tim McKay, Sam Wayne, and Matt Kemper represented Seattle-based Stream Real Estate, and Cushman & Wakefield’s Andrew Shultz and Brandon Burmeister represented the seller in the transaction. The property sits across from Climate Pledge Arena, and Stream Real Estate acquired the vacant property located at 201 Queen Anne Ave N from East West Investment Company Inc. for $7 million.

“Queen Anne Plaza was an ideal prospect as a multifamily conversion for several factors,” said Chhan. “The building is fully vacant, allowing Stream Real Estate to more swiftly execute its transformation plan unencumbered by any existing tenants.” According to its website, all of Stream’s properties are LEED® certified and the firm continually strives to go beyond carbon neutral.