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MULTIFAMILY NEWS
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Seattle Development Site Goes for $261/sf for Land Value

12/12/19

A 12.2k sf development site in Seattle’s growing Greenwood neighborhood sold for $3.2 mil, or $261/sf for the land.

The corner site, located at 425 N 85th St, is zoned Neighborhood Commercial 2 and allows for buildings up to 55 feet in height. Plans recently submitted to the city also include the site to the west (415 N 85th St) to develop a 202-unit multifamily apartment building consisting of SEDU and one-bedroom units.

The property is located just one block east of Greenwood Avenue N. It is part of the Greenwood-Phinney Ridge Urban Residential Village, featuring popular destinations such as FlintCreek Cattle Co, The Angry Beaver pub, and Coyle’s Bakeshop. Future residents will also be within walking distance of Fred Meyer and Bartell Drugs.

Dylan Simon, Jerrid Anderson, Matt Laird, Jason Rosauer, Rob Anderson and Rod Keefe of Kidder Mathews’ Seattle office represented the seller, Encore Publishing Inc.





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