REBusinessOnline

Binjiang, Molasky Buy Multifamily Development Site for $11.3M in Bellevue, Washington

The development site is located at 10050 NE 10th St. in downtown Bellevue.

BELLEVUE, WASH. — Holly Yang and Mike Yeh of Kidder Mathews have negotiated the $11.3 million sale of a 16,674-square-foot multifamily development site at 10050 NE 10th St. in downtown Bellevue.

Binjiang Limited Partnership and The Molasky Group of Companies purchased the property. Binjiang is a subsidiary of Binjiang Real Estate, a Chinese publicly traded real estate company. Aotong Bellevue 10th Street LLC, a private real estate investor located in Kirkland, Wash., was the seller.

Aotong and architecture firm Link Design Group obtained approval in February for a seven-story, 102-unit residential apartment building with underground parking for 111 vehicles. A demolition permit has also been issued.

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