July 11, 2019
A 16,674-square-foot multifamily development site, located in downtown Bellevue at 10050 NE 10th Street, has sold for $11.26 million. Binjiang Limited Partnership and its partner, Las Vegas-based Molasky Group of Companies, purchased the property. Binjiang is a subsidiary of Binjiang Real Estate, one of the largest publicly-traded real estate companies in China.
The seller was Kirkland, WA-based Aotong Bellevue 10th Street LLC, a private real estate investor, which secured city approval in February for a seven-story, 102-unit residential apartment building with underground parking for 111 vehicles. A demolition permit has also been issued.
Kidder Mathews’ Holly Yang and Mike Yeh brokered the off-market sale.
Yang says, “Amazon’s vision to create an urban campus in downtown Bellevue has created a lot of excitement and opportunities for residential and office developers. Our clients are excited to have acquired a shovel-ready site at this phenomenal location.”
Connect Bay Area is coming up July 18, 2019 at the Grand Hyatt San Francisco. Get more information, and register to attend on this link.
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