Home AEC Bosa Sells Downtown Bellevue Development Site for $14.6MM

Bosa Sells Downtown Bellevue Development Site for $14.6MM

Bosa, Schnitzer West, Sushi Maru, Bellevue, Zeyda, Seattle,
A rendering of "Zeyda." Courtesy of City of Bellevue.

By Meghan Hall

Bosa has sold off a downtown Belleuve property where it has originally planned to construct a 21-story residential tower. In a deal that closed on July 26th, but just recorded, Bosa sold 205 105th Ave. NE for $14.6 million. According to public records, the new owner is a Bellevue-based private investor affiliated with Royal 205 LLC.

According to King County parcel data, the property is about 0.46 acres and is currently developed with a 4,480 square foot building constructed in 1967. The building was previously used as a restaurant and lounge. The restaurant, called Sushi Maru, closed in the summer of 2018.

Bosa had originally intended to construct  a 21-story residential tower with 77 residential units at the site. Five of those units would have been designated as affordable. Project plans would have included retail space, a lobby and resident locker space. Amenities would be located on level six, and the project would include 136 parking spaces.

Called “Zeyda,” the project received design approval at the beginning of 2021. Bosa had been working through the entitlements process for the site since 2019. It originally acquired the property for $11 million.

Bosa is no stranger to Bellevue; 205 105th Ave. is just across the street from One88. Another 21-story residential tower, the project contains 142 for-sale units, most of which have been sold. The luxury condominiums feature hard surface floors and modern finishes. 

Additionally, in December of 2019, it sold three Bellevue parcels to Schnitzer West for $65 million. The properties, located at 10635, 10619 and 10605 NE 8th Street in Bellevue include a vacant commercial property, and a 1950s multi-tenant retail center referred to as Sterling on 8th in public parcel data. 

Bosa has also developed projects in Seattle, including Insignia, a 698-unit project completed in 2016, and 3rd & Cherry, a 423-unit project that was revamped and repitched to the City of Seattle in 2017.