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Case Studies / 1405 Dexter
sold
1405 Dexter
Marquee Development Site Sold Amidst Challenging Conditions
- Sourced buyer capable of re-entitling site on expedited timeline
- Negotiated creative solutions to overcome environmental issues and neighbor dispute
- Achieved seller’s pricing and timing expectations despite multiple challenges
Case Study
Challenge
The seller of a South Lake Union development site faced multiple obstacles, including environmental issues, complicated easements, and an ongoing dispute with a neighboring property owner. The site was originally permitted for a design that no longer aligned with market conditions, however the seller aimed to achieve a price based on its previous, infeasible design.
What we did
Dylan Simon conducted a broad marketing campaign targeting local, national, and international developers. Through our broad marketing campaign, we identified a local developer with the expertise and resources to navigate the entitlement and environmental challenges. This developer successfully re-entitled the site, a critical factor in meeting the seller’s price expectations.
Result
Identifying the perfect buyer allowed us to negotiate an expedited transaction timeline of only 16 months, meet the seller’s pricing expectations, and solve the environmental issues. This sale underscores our ability to overcome substantial challenges to meet sellers’ needs, ensuring that complex transactions close successfully.
Site Details
We were excited to source a buyer that is a highly-skilled developer, enabling us to overcome significant challenges with the site, while achieving the seller’s pricing expectations and closing in record time for a development site.
Dylan Simon
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