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March 27, 2020

Uptown apartment project flips to Memphis investor

  • The seller walked away with a 56% gain after owning the property for just two days.
    • By BRIAN MILLER
    Real Estate Editor

    Two days after selling for $4.5 million, an entitled 77-unit development site at 110 First Ave. W. in Lower Queen Anne has traded again for $7 million — a 56% percent gain — according to King County records.

    The seller was an LLC related to local developer re:form, which acquired the property earlier this week — and had obtained a master use permit in January. No construction permit has been issued yet.


     
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