Cushman & Wakefield has arranged the sale of 220 Elliott Avenue West, a development site located in Seattle’s Lower Queen Anne/Uptown neighborhood. The property totals 17,716 square feet and the transaction was executed through a court-appointed receivership process.
The Cushman & Wakefield brokerage team of Tim McKay, Dan Chhan, Matt Kemper, Byron Rosen, Jacob Odegard and Dylan Roeter represented the seller, J. Fanelli Properties, LLC, acting in the role of receiver. The sale involved an existing surface parking lot that currently provides 91 individual parking stalls and generates consistent in-place income for ownership.
The site is zoned SM-UP 85, a designation that allows for high-density development across multiple property types. Under this zoning, future projects on the parcel may include multifamily housing, office space or hotel uses, giving the buyer optionality for a range of potential commercial real estate strategies subject to local regulations and project execution.
At present, 220 Elliott Avenue West is operated as a surface parking facility. The income stream from 91 stalls provides holding revenue while any future redevelopment plans are considered. No details on the buyer, pricing or development plans were disclosed in connection with the transaction.
The property benefits from an elevated position that offers views of Elliott Bay and the Olympic Mountains, enhancing its long-term development appeal. Its location within walking distance of Climate Pledge Arena and Seattle Center places it near a major regional entertainment and cultural hub, and provides access to significant foot traffic and activity generators.
Proximity to downtown Seattle, South Lake Union and the waterfront further anchors the site’s connectivity within the broader urban core. These nearby employment and innovation centers, combined with established entertainment and cultural venues, position the parcel within one of Seattle’s most active mixed-use corridors.
According to Cushman & Wakefield, the Lower Queen Anne neighborhood continues to experience strong demand for residential and mixed-use product. This demand is described as being driven by access to employment, entertainment and transit infrastructure surrounding the area, which has helped sustain interest in high-density projects.
The combination of existing income from surface parking operations, flexible high-density zoning and a location with regional visibility and connectivity underscores the site’s relevance for future multifamily, office or hospitality development. The receivership context of the sale adds a court-supervised element to the transaction, but the underlying fundamentals of the Lower Queen Anne/Uptown neighborhood remain characterized by ongoing demand and proximity to major destinations.
