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April 24, 2017

820 John tower team adds to their SLU site

Seattle Daily Journal of Commerce

A site at 215 Ninth Ave. N. in South Lake Union has sold for $5.1 million, according to King County records.

The seller was Ninth Avenue Associates LLC, which is an entity of Vashon Island real-estate investor John Goodfellow, who acquired the site in 1997 for $750,000. The 7,200-square-foot property is mostly used for parking now.

The buyer was 9th & John LLC, which is associated with Billy Pettit of Pillar Properties and Rich Reel. They are planning a 28-story apartment tower at 820 John St.

The purchase creates a 21,600-square-foot site at the northwest corner of John and Ninth Avenue North.

The 820 John project is being designed by Ankrom Moisan Architects. It will have about 270 units and 250 parking spaces below grade. About 2,600 square feet of ground-floor retail is planned.

Last month Reel told the DJC that they had Goodfellow's parcel under contract. Reel was previously planning a tower with 160 units on a 14,000-square-foot site he already owned, but he said the floorplate would have been too small and inefficient.

Kidder Mathews' Jeff Loftus represented Goodfellow in the sale.

© 2017 Seattle Daily Journal of Commerce. All rights reserved.

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