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December 1, 2025

Buyer pays $7.5M for Mercer perch

By JOURNAL STAFF

SEATTLE — In two related sales last week, Rainier Pacific Properties assembled a possible development site overlooking the Mercer Street ramps to Interstate 5. Both properties are almost impossible to find — on the dead end of Pontius, directly south and above the ramps. The county recorded the sales separately.

First, a vintage apartment building at 603 Pontius Ave. N. sold for almost $5 million. The sellers were local investors who acquired the property in 2005 for about $2.7 million.


 
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