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CBRE Completes $17.5M Sale of Downtown Seattle Residential Site

Downtown Seattle Residential Site Sells for $17.5M

CBRE has completed the $17.5 million sale of a 0.61-acre site located at 2700 1st Ave. in downtown Seattle’s Belltown neighborhood. An undisclosed buyer purchased the 27,000-square-foot parcel which is zoned for residential development up to 145 feet in height and a maximum of 267 units.

The seller, Churchome, was represented by Eli Hanacek, Jon Hallgrimson, Frank Bosl and Kyle Yamamoto with CBRE’s Pacific Northwest-based multifamily team. “This is a trophy core development opportunity in an exceptional downtown location. Demand for new apartments remains strong in Seattle, as the region continues to see population growth,” said Hallgrimson.

A feasibility study by Ankrom Moisan proposed two development options at the site. A 145-foot tower with a podium structure for 267 units or a mid-rise structure with 193 units. Both options include ground-floor retail space and could have expansive views of Elliott Bay, The Space Needle and Lake Union.


Inside The Story

CBRE Pacific Northwest MultifamilyAnkrom Moisan

About Mark Nieto

Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.

  • ◦Sale/Acquisition
  • ◦Development
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