I’m In New York, Facebook To Bellevue, Seattle Condo Owners To Pay $20M Assessment
I’m in NYC. See the video below to find out more!
NEW YORK CITY
New York has always been a favorite for my wife and I. She lived in the West Village for close to 6 years before we got married. She is often in NY for work and I decided to join her on this trip.
The trip is both business and pleasure. I always enjoy the food, the coffee shops and the people watching. I often walk 6-8 miles a day in some of our favorite neighborhoods and enjoy everything NYC has to offer. I’m getting some work done as well.
I’m looking at a few new condo development projects for a developer/client of mine in Seattle. A bit of a case study. It is amazing to see all the urban density in New York. Projects that have really been catching my eye are mid-rise developments in the Gramercy Park neighborhood and a number of new projects in the East Village.
FACEBOOK LEASES IN BELLEVUE
You’ll notice in the video that there were 2 major headlines this week in Seattle. The first, is that Facebook has leased a 11 story building in the Spring District of Bellevue. It totals nearly 340,000sf and by my estimation it could house as many as 2,400 employees of the company. This is big news.
Late last year it was rumored that Facebook was working on a new space for 650,000sf of office in Redmond. This is in addition to the 2,000 plus employee base in Seattle. With all this space combined, Facebook has nearly 4M square feet of Seattle/Bellevue/Redmond office space. That quickly puts them in the top 10 Seattle companies in terms of total square footage.
SEATTLE CITY COUNCIL APPROVES $160M LID FUNDING FOR SEATTLE WATERFRONT REDEVELOPMENT
The second headline catching the interest of condo owners in Seattle is the Seattle City Council approval of the $160M LID funding plan for the Seattle Waterfront Development . I explain in detail in the video, but in summary, it is an assessment on Seattle condo and business owners.
For condo owners specifically, they will account for $20M in total funding through a $1,900 assessment levied against all residents. See below and if you have any questions after watching the video, get in touch email@example.com.