November 1, 2023

All 10 Bellevue condos sell for $47M

Photo by Brian Miller [enlarge]

Sorry, you’re too late to buy. But we could meet at the wine bar downstairs?

In recent weeks, those passing along the far west end of Main Street in Old Bellevue, near Meydenbauer Bay, have noticed furniture and even Halloween decorations appearing in the windows at 8 100th Ave. N.E. , aka the brand-new 100 & Main condominium.

Merely staging and window dressing for brokers, you might ask? Nope! All 10 of the residential units sold during September for about $47 million to a handful of new owners. One is one of the original developers. Another, using an LLC, liked the building so much that he bought three units.

King County recorded a series of sales soon after the condominium was created as a legal entity. Prices ranged from about $4.6 million to $4.7 million. One commercial unit at grade remains; Newmark is the leasing broker for those 1,258 square feet, “perfect for a cafe/bakery or wine bar” with possible outdoor seating.

JTM Construction began work in the summer of 2021 on what some will remember as the Pagliacci corner. (The restaurant moved a few blocks east.) The crane went down this spring, bits of blue painters tape were visible this summer to indicate final punch-list items (still ongoing), and the six-story building looked very finished by August. It was designed by Compton Design Office.

The developers, associated with Paramount Hotels, acquired the land in 2018 for $5.4 million. The team also included MG2, consulting architect; Coughlin Porter Lundeen, structural engineer; KPFF, civil engineer; Site Workshop, landscape architect; and Terrane, surveyor.

Units are large, with two per floor, both having around 3,000 square feet. Two levels of underground parking have 23 stalls.

We look forward, next month, to seeing the Christmas trees and menorahs appear in the windows.