Home Commercial 78-Room Hotel Seattle Sells for $10.85MM

78-Room Hotel Seattle Sells for $10.85MM

Seattle, Wash. (September 30, 2021) – Hotel Seattle, a 78-unit historical boutique hotel located at 315 Seneca Street in downtown Seattle, has sold for $10,850,000 in a marketed sale by Kidder Mathews. The seller, a local family, held the hotel in private ownership for nearly a half-century.

Brandon Lawler, Jerrid Anderson, and Dylan Simon of the Simon and Anderson team, a multifamily investment team based in Kidder Mathews’ Seattle headquarters, represented the seller in the listing. Kidder Mathews was the only broker involved in the transaction.

The hotel was built in the early 1920s and originally named “The Heart of Seattle Hotel.” It has a sister hotel, the famous Edgewater. The buyer is planning to modernize and update the hotel, breathing new life into the property.

The Simon and Anderson team broadly marketed the hotel unpriced and sourced more than 15 offers. The hotel was completely vacant, marketed in the depth of the COVID-19 market, and still achieved pricing that well exceeded both assessed value and appraised value.

“The hotel was held by this family for nearly a half-century and is an integral part of their family history. The Simon and Anderson team was proud and honored to structure a transaction allowing the historic hotel to transfer to a local investment group,” said Lawler.

About The Simon and Anderson apartment brokerage team
The apartment brokerage team led by Dylan Simon and Jerrid Anderson of Kidder Mathews represents investors in selling, purchasing, and financing apartment buildings and development land across the greater Seattle and Puget Sound region. The team of eight brokerage professionals specializes in the sale and financing of apartment buildings and development land from $1 million to more than $100 million. For more information, visit dylansimon.com.

About Kidder Mathews
Kidder Mathews is the largest independently owned commercial real estate firm on the West Coast, with 900 real estate professionals and staff in 21 offices in Washington, Oregon, California, Nevada, and Arizona. Kidder Mathews offers a complete range of brokerage, appraisal, asset services, consulting, project and construction management, and debt & equity finance services for all property types. The firm performs $8 billion in transactions, manages over 70 million square feet of space, and conducts over 1,800 appraisals annually. For more information, visit kidder.com.