September 4, 2018
SEATTLE — The new Link Studios, at 2939 S. Mt. Baker Blvd., have sold for almost $7.5 million, according to King County records.
The seller was Peregrine – 2939 LLC, associated with developer Build Urban, which acquired the land in 2014 for $585,000 and developed it.
The buyer was Link Studios LLC, an entity of the nonprofit Mt. Baker Housing Association. Public records indicate loans from the city of Seattle and Washington Community Reinvestment association.
JLL’s Don Flanigan, Matt Kemper, David Young and Corey Marx arranged the sale. The deal was worth about $124,645 per unit.
Developed on a 9,571-square-foot site next to Fire Station No. 30, the three-story building has 60 units that range from 165 to 305 square feet. The project was completed last year. Build Urban acted as its own architect and contractor.
Link Studios has no parking, but is a five-minute walk to Mount Baker Station.
It’s also close to some of Mt. Baker Housing’s other current and future affordable planned apartment buildings.
This is the nonprofit’s first new apartment acquisition.
MBH currently has about 300 units in seven properties, and is planning 160 units in Rainier Beach, and another and another 144 units near Mount Baker Station.