June 4, 2019
A 24,240-square-foot transit-oriented development site in Seattle’s University District, has sold for $17.3 million. The buyer was an unnamed private real estate fund, which plans to develop a mixed-use high-rise building that will include more than 200 apartment units.
The site is made up of three parcels at 4212 Roosevelt Way NE, 1006 NE 42nd Street, and 4211 11th Ave NE, and located only three blocks from the future University District Light Rail station.
Kidder Mathews’ Holly Yang, CCIM and Michael Yeh, represented the buyer, a developer of multifamily properties. The seller was represented by Kidder Mathews’ Ken Hirata and Jeff Loftus, as well as IPA’s Giovanni Napoli and Philip Assouad.
“We continue to see strong interests from both national and local developers/investors for development sites in the U-District,” said Yang.
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