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Redmond Building Formerly Owned By Michael Mastro Sells For $3.5M

In 2005, disgraced real estate developer Michael R. Mastro purchased the 50,000-square-foot office building at 15440 N.E. 95th St. in Redmond for roughly $9.5M. The building was seized three years ago by the bank and was sold this week for a shade under $3.5M. Quite the differential.

Mastro is currently in France fighting extradition to the United State while Frontier Bank, who loaned Mastro the money to purchase the property, is currently being sued by the FDIC for $46M.
· Former Mastro property in Redmond sells for $3.5 million [PSBJ]