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Old Fed Building Finally Sells at Auction for $16M

Photo: Joe Mabel

Our long, local nightmare may finally be over. After the General Services Administration literally tried to give away the six-story, 86K square-foot former Fed building in Downtown Seattle, the Seattle School Board swooped in and made a run at turning it into a new school. Ultimately, they decided against it citing renovation costs and the building went to auction two months ago. That auction ended on Saturday with a high bid of $16M to an undisclosed bidder. We may not know who submitted the winning bid for 60 days, though we do know that it was not Seattle Public Schools. Eight different groups were said to have made offers.
· Old Federal Reserve branch building in Seattle sells for $16 million [PSBJ]
· Old Federal Reserve Building May Hit The Auction Block [CS]
· Old Fed Building May Become Elementary School After All [CS]
· Seattle Schools Turn Down Old Federal Reserve Building Deal [CS]