Seattle-based developer Vibrant Cities has lost control of Roystone, a newer 93-unit mixed-use building located at the base of Queen Anne Hill. Dylan Simon, Jerrid Anderson, and JD Fuller of the Simon | Anderson Multifamily Team at Kidder Mathews represented the former owner. The team brought the property to market in January and facilitated the transaction.
The eight-story property at 5 W. Roy Street was transferred via a trustee’s deed in a Chapter 11 bankruptcy sale. The buyer’s address corresponds to Citymark Capital of Cleveland. The recorded sale price was $0, though the property is assessed at $27.1 million.
Lower Queen Anne is the city’s oldest neighborhoods. This historic neighborhood Lower Queen Anne is one of the most vibrant, active, and fun neighborhoods in Seattle. Known for historic architecture, this urban hub is home to high-tech companies like Amazon, along with some of Seattle’s biggest landmarks and attractions including the iconic Space Needle, the Museum of Pop Culture, the Pacific Science Center, and so much more. Although the neighborhood hosts many tourist attractions, authentic neighborhood charm and quirky treasures can be found quite easily as well. Enjoy a meal at one of the neighborhood’s many local restaurants or soak in sun at Centennial Park, a sprawling waterfront greenspace.
The 2020 deed of trust indicates Vibrant Cities had borrowed $30 million from First Interstate Bank for the project, which includes underground parking, nearly 3,500 square feet of retail, and a rooftop deck with city views.
Kidder Mathews is the largest fully independent commercial real estate firm in the Western US. Kidder Mathews is the largest fully independent commercial real estate firm. Our team boasts over 900 local market specialists and top-producing professionals—serving out of 20 offices in Washington, Oregon, California, Idaho, Nevada, and Arizona. The expertise of each local office is reinforced by the relationships, intelligence, and experience of our entire firm.
