King County Department of Assessments

Setting values, serving the community, and promoting fairness and equity.

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Department of Assessments

201 South Jackson Street,
Seattle, WA 98104

Office Hours:
Mon - Fri
8:30 a.m. to 4:30 p.m.

TEL: 206-296-7300
TTY relay: 711 or 800-833-4388

PARCEL DATA

Parcel	918450-0020
Name	FSP-RIC LLC
Site Address	1301 2ND AVE
Geo Area	30-40
Spec Area	280-120
Property Name	RUSSELL INVESTMENTS CENTER- SEATTLE ART MUSEUM PROJECT CONDOMINIUM

Jurisdiction	SEATTLE
Levy Code	0011
Property Type	K
Plat Block / Building Number
Plat Lot / Unit Number	UNIT OFF UNIT
Quarter-Section-Township-Range	SE-31-25-4

Legal Description

WA MU-SEATTLE ART MUSEUM CONDO PCT UND INT 59.000
PLat Block:
Plat Lot: UNIT OFF UNIT

LAND DATA

Highest & Best Use As If Vacant	COMMERCIAL SERVICE
Highest & Best Use As Improved	PRESENT USE
Present Use	Office Building
Land SqFt	54,021
Acres	1.24

Percentage Unusable	100
Unbuildable	NO
Restrictive Size Shape	NO
Zoning	DOC1 U/450/U
Water	WATER DISTRICT
Sewer/Septic	PUBLIC
Road Access	PUBLIC
Parking	ADEQUATE
Street Surface	PAVED

Views

Waterfront

Rainier
Territorial
Olympics
Cascades
Seattle Skyline
Puget Sound
Lake Washington
Lake Sammamish
Lake/River/Creek
Other View

Waterfront Location
Waterfront Footage	0
Lot Depth Factor	0
Waterfront Bank
Tide/Shore
Waterfront Restricted Access
Waterfront Access Rights	NO
Poor Quality	NO
Proximity Influence	NO

Designations

Nuisances

Historic Site
Current Use	(none)
Nbr Bldg Sites
Adjacent to Golf Fairway	NO
Adjacent to Greenbelt	NO
Other Designation	NO
Deed Restrictions	NO
Development Rights Purchased	NO
Easements	NO
Native Growth Protection Easement	NO
DNR Lease	NO

Topography
Traffic Noise
Airport Noise
Power Lines	NO
Other Nuisances	NO

Problems

Water Problems	NO
Transportation Concurrency	NO
Other Problems	NO

Environmental

BUILDING

Building Number	1
Building Description	Office Tower
Number Of Buildings Aggregated	1
Predominant Use	OFFICE BUILDING (344)
Shape	Very Irreg
Construction Class	STRUCTURAL STEEL
Building Quality	EXCELLENT
Stories	42
Building Gross Sq Ft	1,595,025
Building Net Sq Ft	1,221,245
Year Built	2006
Eff. Year	2010
Percentage Complete	100
Heating System	COMPLETE HVAC
Sprinklers	Yes
Elevators	Yes

Section(s) Of Building Number: 1

Section Number	Section Use	Description	Stories	Height	Gross Sq Ft	Net Sq Ft
4	MUSEUM (481)		2	14	59,648	58,566
3	MUSEUM (481)		4	14	108,347	108,347
2	OFFICE BUILDING (344)		42	10	943,610	872,026
8	MUSEUM (481)		1	14	32,509	32,509
1	UNDERGROUND PARKING STRUCTURE (388)	711 stalls	6	12	297,457	0
7	MUSEUM (481)		1	14	32,440	31,901
6	MUSEUM (481)		2	14	60,393	59,252
5	MUSEUM (481)		2	14	60,621	58,644

Apartment / Condo Complex Data

Complex Type	Cml Condo
Complex Description
Value Distribution Method
# of Bldgs	0
# of Stories	0
# of Units	0
Avg Unit Size	0
Land Per Unit	0
Project Location
Project Appeal
% With View	0
Construction Class	(unknown)
Building Quality	(unknown)
Condition
Year Built	2005
Eff Year	2005
% Complete	0
Elevators
Security System
FirePlace
Laundry	NONE
Kitchens
# of Meals	0
Founder's Fee
Apt Conversion
Condo Land Type

Condo Unit

Unit	Minor	Building	Floor	Unit Year Built	Unit Eff Year	Unit type	Regression	Quality	Location	Condition
OFF UNIT	0020	1				Office

Measurement	Size	Bed Room	1/2 Bath	3/4 Bath	Full Bath	Other Room	Fire Place	Top Floor	End Unit
SqFt	943,610	0	0	0	0

Parking Open	Carport	Parking Basement	Parking Basement Tandem	Parkage Garage	Parkage Garage Tandem	Parking Other
0	0	0	0	0	0	0

View Mountain	View Lake/River	View City Territorial	View Puget Sound	View Lake WA / Lake Sammamish

TAX ROLL HISTORY

Account	Valued Year	Tax Year	Levy Code	Appraised Land Value ($)	Appraised Imps Value ($)	Appraised Total Value ($)	Taxable Land Value ($)	Taxable Imps Value ($)	Taxable Total Value ($)
918450002004	2026	2027	0011	19,123,400	208,849,600	227,973,000	19,123,400	208,849,600	227,973,000
918450002004	2025	2026	0011	50,995,800	198,584,200	249,580,000	50,995,800	198,584,200	249,580,000
918450002004	2024	2025	0011	50,995,800	219,955,200	270,951,000	50,995,800	219,955,200	270,951,000
918450002004	2023	2024	0011	50,995,800	385,017,200	436,013,000	50,995,800	385,017,200	436,013,000
918450002004	2022	2023	0011	49,402,100	455,454,900	504,857,000	49,402,100	455,454,900	504,857,000
918450002004	2021	2022	0011	49,402,100	501,350,900	550,753,000	49,402,100	501,350,900	550,753,000
918450002004	2020	2021	0011	49,402,100	519,709,900	569,112,000	49,402,100	519,709,900	569,112,000
918450002004	2019	2020	0011	41,434,100	503,581,900	545,016,000	41,434,100	503,581,900	545,016,000
918450002004	2018	2019	0011	38,246,800	484,097,200	522,344,000	38,246,800	484,097,200	522,344,000
918450002004	2017	2018	0011	35,059,600	504,678,400	539,738,000	35,059,600	504,678,400	539,738,000
918450002004	2016	2017	0012	28,685,100	440,189,900	468,875,000	28,685,100	440,189,900	468,875,000
918450002004	2015	2016	0012	24,701,000	413,056,000	437,757,000	24,701,000	413,056,000	437,757,000
918450002004	2014	2015	0012	23,904,200	374,611,800	398,516,000	23,904,200	374,611,800	398,516,000
918450002004	2013	2014	0010	22,310,600	368,356,400	390,667,000	22,310,600	368,356,400	390,667,000
918450002004	2012	2013	0010	19,760,800	321,121,200	340,882,000	19,760,800	321,121,200	340,882,000
918450002004	2011	2012	0010	19,760,800	146,767,200	166,528,000	19,760,800	146,767,200	166,528,000
918450002004	2010	2011	0010	19,760,800	104,594,200	124,355,000	19,760,800	123,866,200	143,627,000
918450002004	2009	2010	0010	19,760,800	162,013,200	181,774,000	19,760,800	162,013,200	181,774,000
918450002004	2008	2009	0010	19,760,800	253,839,200	273,600,000	19,760,800	253,839,200	273,600,000
918450002004	2007	2008	0010	16,732,900	258,381,500	275,114,400	16,732,900	302,131,700	318,864,600
918450002004	2006	2007	0010	9,561,700	230,370,000	239,931,700	9,561,700	230,370,000	239,931,700
918450002004	2005	2006	0010	9,373,331	26,648,412	36,021,743	9,373,331	26,648,412	36,021,743

SALES HISTORY

Excise Number	Recording Number	Document Date	Sale Price	Seller Name	Buyer Name	Instrument	Sale Reason
2539735	20120423000776	4/20/2012	$480,000,000.00	NORTHWESTERN MUTUAL LIFE INSURANCE COMPANY	FSP-RIC LLC	Special Warranty Deed	None
2407592	20090910000755	9/8/2009	$115,000,000.00	SECOND AND UNION LLC	NORTHWESTERN MUTUAL LIFE INSURANCE CO	Quit Claim Deed	None
2205285	20060508000944	5/8/2006	$0.00	1301 SECOND AVENUE LLC	SECOND & UNION LLC	Bargain and Sales Deed	Other

REVIEW HISTORY

Tax Year	Review Number	Review Type	Appealed Value	Hearing Date	Settlement Value	Decision	Status
2018	1703626	Local Appeal	$539,738,000	8/6/2018	$539,738,000	SUSTAIN	Completed
2012	80044	State Appeal	$166,528,000	8/2/2012	$166,528,000	REVISE	Completed
2012	1101923	Local Appeal	$166,528,000	1/1/1900	$0		Completed
2011	78489	State Appeal	$143,627,000	1/1/1900	$124,355,000	REVISE	Completed
2011	1002520	Local Appeal	$143,627,000	1/1/1900	$0		Completed
2010	76387	State Appeal	$181,774,000	8/2/2012	$127,984,000	REVISE	Completed
2010	0905964	Local Appeal	$181,774,000	10/21/2010	$138,900,000	REVISE	Completed
2009	0800447	Local Appeal	$326,803,000	1/1/1900	$0		Completed
2008	66914	State Appeal	$318,864,600	9/3/2008	$275,114,400	REVISE	Completed
2008	0700561	Local Appeal	$332,905,600	1/8/2008	$318,864,600	REVISE, ASSESSOR RECOMMENDED	Completed
2007	0600439	Local Appeal	$239,931,700	1/1/1900	$0		Completed

PERMIT HISTORY

HOME IMPROVEMENT EXEMPTION

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Notice mailing date: 10/08/2026

King County Department of Assessments

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