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Bellevue Multifamily Development Site Sells For $11.26M

Bellevue Multifamily Development Site Sells For $11.26M
The site for this 16,674 SF multifamily development in Bellevue sold for $11.26M.

A 16,674 SF multifamily development site at 10050 NE 10th St. in Bellevue has sold for $11.26M in an off-market sale. China-based Binjiang L.P. and Las Vegas-based Molasky Group bought the site from Aotong Bellevue 10th Street LLC, a private real estate investor based in Kirkland.

Aotong and its architecture firm, Link Design Group, obtained city approval in February for a seven-story, 102-unit residential apartment building with underground parking for 111 vehicles. A demolition permit has been issued. 

Amazon’s vision to create an urban campus in downtown Bellevue has created a lot of excitement and opportunities for residential and office developers,” Kidder MathewsHolly Yang said in a statement.

“Our clients are excited to have acquired a shovel-ready site at this phenomenal location.”

Yang and Kidder Mathews’ Mike Yeh brokered the deal.