Update 09-03-2008

JPMorgan Sells Sidney Apts. for $40.7M

Video Game Developers Buy 128-Unit Complex in Seattle

JPMorgan Asset Management sold the 128-unit Sidney Apartments in Seattle to Ken and Roberta Williams, the founders of video game developer Sierra Entertainment, for $40.75 million, or about $318,000 per unit.

The six-story building delivered in 2000 at 400 Wall St. in Seattle's Belltown/Denny Regrade area. It is comprised of five studio apartments, 105 one-bedroom units and 18 two-bedroom units.

Jeff Williams of Moran & Co. listed the property.

Written by Travis J Winn

Please see CoStar COMPS #1572918 for more information regarding this transaction.

Update 08-22-2008
The good folks at Belltown's Sidney Apartments told me that the new owners, Ken and Roberta Williams, will be coming to Seattle to tour the premises on September 1. Gurus and pioneers of the computer industry, they retired in 1996 after Sierra, producer of "Leisure Suit Larry" and other smash hits of the early PC gamer days, was sold.

08-19-2008
From the Seattle Daily Journal of Commerce, some good real estate news for Belltown for a change.

It seems some video game developers (translation - some very, very rich people) just snapped up one of those newer Belltown developments - "Sidney."

Video game developers buy Belltown apartments / By LYNN PORTER
"The founders of Sierra Entertainment video game developer and publisher have purchased the Sidney Apartments in downtown Seattle, according to public records."