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3/03/26
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A 17.7k sf was sold via a court-appointed receivership. The property is located at 220 Elliott Avenue West, at 3rd Ave, adjacent to the shoreline.
220 Elliott Avenue West is currently improved as a 91-stall surface parking lot generating consistent in-place income. The property is zoned SM-UP 85 (M), allowing for high-density multifamily, office or hotel development. The site’s elevated positioning provides views of Elliott Bay and the Olympic Mountains beginning at grade and significantly enhancing with vertical construction.
The property is located within walking distance of Climate Pledge Arena and Seattle Center, and offers convenient access to downtown Seattle, South Lake Union and the waterfront. The Lower Queen Anne neighborhood continues to see strong residential and mixed-use demand driven by proximity to employment, entertainment and transit infrastructure.
Cushman & Wakefield’s Tim McKay, Dan Chhan, Matt Kemper, Byron Rosen, Jacob Odegard and Dylan Roeter represented the seller, J. Fanelli Properties LLC, as receiver, in the transaction.
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