SEATTLE — Seattle’s iconic Smith Tower is now on the market. The historic skyscraper, which used to be the tallest building on the West Coast, is now up for sale. It has been open since 1914 and is a landmark both in Pioneer Square and in the city.
The investment bank Eastdil Secured confirmed with KING 5 that they are marketing the tower and that is currently “unpriced.”
The tower was last sold in 2019 and is currently owned by Goldman Sachs and Unico Properties. According to King County Accessor’s Department, Smith Tower is more than 304,000 square feet and in 2022 it was appraised at $130,169,000.
Right now, Smith Tower has a penthouse apartment, office space, retail space, and an observatory deck with a restaurant.
With the tower now up for sale, Lisa Howard, the Executive Director of the Alliance for Pioneer Square, said she plans to build a relationship with whoever the new owners will be, as she does with other businesses in the district.
“I really hope they offer some sort of stability for the current tenants,” said Howard, specifically of the businesses on the ground level.
Howard also added that she hopes the new owners are able to maintain public access to the observatory level, and allow the public to enjoy food, drinks, and views at that level.
She said the Alliance has been working hard to revitalize Pioneer Square and that she is excited for Smith Tower to continue to be a key part of the neighborhood.
“Smith Tower is a really important part of Pioneer Square,” said Howard. “It has been throughout history, and it's going to continue to be an important part of the district and part of the future.”