Updated Oct 15, 2026
Gantry Secures $16 Million Permanent Loan For Russell Hall Mixed-Use Property In Seattle
1414 Northeast 42nd Street
$16,000,000
$256/SF
Building Size
62,400 SF
Asset Type
Mixed-use
Closing
Oct 8, 2026
About this deal
AI
A $16 million permanent loan was secured by Gantry to refinance maturing debt on Russell Hall, a 62,400-square-foot mixed-use property located at 1414 Northeast 42nd Street in Seattle, WA. The property comprises 30 units and is situated near the University of Washington.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $16,000,000
- Loan Type: Permanent
- Loan Terms: 5-year
- Address: 1414 Northeast 42nd Street
- Market: Seattle, WA
- Asset Size: 62,400 square feet
- Units: 30
Gantry was represented in this transaction by brokers Mike Wood, Michael Taylor, and Tim Brown, who assisted the private real estate investor in securing the financing. The loan includes partial-term interest-only payments and is fixed-rate, with a non-recourse structure.
On the Map
$16,000,000
$256/SF
Mixed-use
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Seattle Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.99%
Cash-on-Cash
-0.28%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93