Oct 31, 2019

Christie's enters local real estate market

Though better known as an auction house, Christie's has opened a luxury real estate office in Seattle. It's being led by Scott Wasner — who makes the move from Realogics — and Kendra Ratcliff and Terry Sprague, who both come from Luxe Christie's International Real Estate in Portland.

(Editor's note: A earlier version of the story incorrectly said that Christie's International Real Estate entered the U.S. market last year.)

Colliers to lease Emerald retail

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Colliers has announced that its team of Xinxin Li and Ryan Marn will lease the two retail bays at the high-rise Emerald condominium, now under construction at 121 Stewart St. That 40-story, 265-unit project by Create World should open to residents next summer. It topped out in July. Hewitt is the architect and Andersen Construction is the general contractor.

Colliers says the two bays will have 730 and 3,907 square feet, the latter on the corner of Second Avenue, with two levels. Rates weren't announced. On the residential side, Polaris Pacific is marketing units at the Emerald, with prices ranging from around $400,000 to nearly $4 million, and sizes running from around 500 to 1,900 square feet.

(Editor's note: The story has been corrected to say the two retail bays will be leased, not sold.)

Historic district to elect board members

The International Special Review District Board election will be on Nov. 19 from 11 a.m. to 6 p.m. at the Bush Asia Hotel (409 Maynard Ave. S.). On the ballot for Position No. 1 are business owner Tuyen Than, contractor Russ Williams and developer/preservationist Tanya Woo. For Position No. 2, the candidates are garden manager Lizzy Baskerville and community activist Matt Chan. Terms are for two years; Woo is currently serving as an interim board member for a suddenly vacant position.

Thayer Manca does three big deals in S.W.

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In three recently announced apartment sales, local firm Thayer Manca Residential disclosed over $105 million in deals Arizona and New Mexico. In Albuquerque, TMR bought the 264-unit Circ Apartments and 200-unit Ottavo Apartments for a combined $60 million. About $4 million each has been invested in upgrades. And in Tempe, TMR recently sold the 266-unit Avia 266 for a little over $45.2 million; that was after about $4 million in upgrades. TMR has acquired that property in 2015 for $19.2 million. Joe Manca said in a statement, “We are very confident in the greater Phoenix market, and it remains a focus of ours as we continue to grow our portfolio.”