Vulcan Flips Amazon building in S. Lake Union for $244 million
I guess the next step will be for Vulcan to work with Trump to develop his proposed Trump Club.
Paul Allen’s Vulcan Real Estate has unloaded another part of its SLU enterprise. Like many new offices in the neighborhood, the 12-story building replaced a parking lot. This is another part of Allen’s effort to create SLU in the model of a suburban indostrial park, with high turnover and tax free profits. Just Wednesday, a Belltown office partially occupied by Amazon sold for $93 million. Another Amazon building sold to a South Korean firm for $247 million, and in 2012, Amazon bought a set of the offices for $1.2 billion.
As usual the deal effs the ordinary taxpayer. With an assessed value of $163 million, the property sold for for $244 million.