By Meghan Hall
A 7,380 square foot home right on the water in Hunts Point, Wash., has traded for top dollar. According to public records, 4455 Hunts Point Rd. traded for $60 million in a transaction that closed on October 13th. An entity affiliated with Rodney D. Olson, a former president and chief executive officer of WestCoast Hotels, and later chairman of the board of directors for Seattle-based Paramount Hotels, was the seller. The buyer was an entity listed as S2KHP LLC in public documents.
According to a Redfin estimate, the property was built in 2012 and sits on about an acre. The home comes with three bedrooms and five bathrooms. Redfin states that the property comes with an attached garage and seven fire places.
Excise tax documents also indicate that the property is valued at $23.935 million. Few properties in the neighborhood rival the sale value of 4455 Hunts Point Rd., based on additional Redfin data. Nearby assets, including a 9,420 square foot home at 4053 Hunts Point Rd. is estimated to be worth about $30.6 million, while a 6,420 square foot home at 4450 Hunts Point Rd. is valued at a healthy $27.6 million. Other nearby homes are in about the $10 to $12 million range.
Prices for for-sale product across Seattle and the greater United States have spiked in recent months due to a lack of inventory and increased demand from buyers. According to a September analysis by Redfin, home prices surged 7.7 percent while inventory fell 12.4 percent, the largest year-over-year decline in a 23-month pattern of lessening inventory. Nearly a quarter of homes sold above list price, and the average sale-to-list ratio was 98.5 percent. The Seattle market listed some of the nation’s highest price growth, rising 16 percent over the past year alone.
