Whatever work the previous owners put into Seattle's Smith Tower in the last two years, it's clearly paid dividends. Bought for 36.8M in 2012, the soon-to-be-101-year-old tower sold for $73.7M on Wednesday. Actually, part of the reason for the big gains is that the neighboring, 4,800 sq. ft. Florence Building (512 2nd Ave.) was part of the sale as well. Currently home to companies such as shoe designer Dolce Vita and office suite provider Regus, the 38-story, 489-foot tower was the tallest building in town from the time it was built in 1914 until 1962 when the Space Needle appeared. New owner Unico said they intend to modernize the elevator and upgrade facilities on the Observation Deck/Chinese Room at the top of the tower. They also plan to partner with the Seattle Underground Tour to make their iconic tourist attractions part of the itinerary.
· Smith Tower doubles in value in 3 years, sells to Unico for $74M [PSBJ]
· Smith Tower sold, tie-in with Underground Seattle planned [ST]
· Seattle's Skyline-Defining Smith Tower Celebrates 100 Years [CS]
· 16 Photos of Smith Tower From Before You Were Born [CS]
· Mapping Seattle's Tallest Building Over History [CS]
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