SEATTLE — A likely redevelopment site at 4200 Stone Way N. has sold for $4.5 million, according to King County records. The seller was Anderson/Carlsson LLC, which acquired the property in 2001 for $1.6 million.
The buyer was 4200 Stone Way LLC, which is associated with apartment developer Preston Walls. No new plans have been filed yet for the property.
Brokers were not announced.
The 13,250-square-foot property is on the northeast corner of Stone Way and North 42nd Street. It was developed in 1965 with a small two-story office building that’s home to a yoga studio and CPA’s office, among other tenants. It’s currently zoned up to 40 feet, with an upzone to 55 feet expected.
Walls is currently planning 60 small efficiency dwelling units (SEDUs) in Ballard; and 58 Capitol Hill units on a steep site overlooking Interstate 5 and the Melrose Trail.