When you’re driving past South Seattle, you can’t miss the old Pacific Medical Building in Beacon Hill, that used to be the old Amazonheadquarters. The building, which glows a fascinating sunset orange at night, will be auctioned off at an online auction in sometime this month.
The Seattle landmark has been put on the market by the holders of the delinquent $20.5 million mortgage, which can be found for sale on auction.com, a company selling real estate and real estate debt online for properties across the country. The debt can be renegotiated, or the new owner could move the building into foreclosure, just like CBRE Capital Markets did after they acquired the Smith Tower, another great Seattle landmark. While online real estate auctions are not uncommon around the nation, online auctions for popular landmark properties such as this are certainly new to Seattle. According to the Seattle Times, the auction is scheduled for April 16th, and will begin at 10am, with the bidding starting at $2 Million, and will last for 24 hours.