Overlake East

Exclusive Shovel-Ready Development Opportunity

2560 152nd Ave NE  |  Redmond, WA 98052

OPPORTUNITY

Berkadia Seattle Investment Sales is pleased to present Overlake East, a multifamily development opportunity located just east of downtown Bellevue in the highly desirable Overlake corridor.

This shovel-ready development site offers the opportunity for 323 apartment homes in one of the Eastside’s most active and rapidly evolving submarkets.

The Overlake Corridor continues to benefit from major infrastructure investment, strong demographics, and proximity to the Eastside’s leading employment centers. Anchored by the East Link Extension, the area now offers enhanced connectivity between Seattle, Bellevue, and Redmond, improving regional access and reducing commute times.

The immediate area is supported by an affluent, highly educated resident base, with average household incomes exceeding $200,000, reinforcing long-term housing demand. Future residents will also benefit from convenient access to Downtown Bellevue and a deep roster of major employers, including Amazon, which plans to expand its Bellevue presence to 25,000 employees, as well as other notable companies such as OpenAI, xAI, Snowflake, Meta, Walmart, Snap, GE, Pokémon, and Zoom. To the east, Redmond and the global headquarters of Microsoft further strengthen the corridor’s appeal as a premier employment hub. With strong transit access, excellent regional connectivity, and proximity to some of the Puget Sound region’s most significant demand drivers, Overlake East presents a compelling opportunity in one of Bellevue’s most attractive growth corridors.

  • Address2560 152nd Ave NE
  • City, State, ZIpRedmond, WA 98052
  • CountyKing
  • Parcel Number6448500011
  • ZoningOV
  • Site Size/Acreage1.79
  • Entitled Rentable SF258,888 SF
  • Entitled Units323
  • Average Rent$3,132
  • Average Rent/SF$3.91
  • Entitled Commercial SF7,142 SF

INVESTMENT HIGHLIGHTS

323-Unit Shovel Ready Development:

Overlake East offers the opportunity to develop 323 apartment homes in one of Bellevue’s most active and supply-constrained growth corridors.

Transit-Oriented Positioning:

The site is ideally located near the East Link Extension, providing strong connectivity between Seattle, Bellevue, and Redmond.

Proximate Employment Base:

Future residents will benefit from convenient access to downtown Bellevue and a deep concentration of major regional and national employers.

Premier Eastside Location:

Located just east of downtown Bellevue, the property is positioned within the highly desirable Overlake corridor, an area benefiting from continued investment and redevelopment.

Affluent Demand Drivers:

The surrounding area features an affluent, highly educated resident base with average household incomes exceeding $200,000, supporting long-term multifamily demand.

Established Tech Corridor:

Situated between Bellevue and Redmond, the property is near a powerful employment base anchored by Amazon, Microsoft, and other leading technology companies.

323

Entitled Units

7.1k

Commercial SF

1.79

Acres
overlake East Renderings

ASSET

Overlake East is entitled as a mixed‑use residential development consisting of approximately 323 multifamily units, with an average unit size of approximately 802 square feet. The residential program includes a mix of 61 studio units (19%), 187 one‑bedroom units (58%), 58 two‑bedroom units (18%), and 17 three-bedrooms (5%), supporting an efficient and cohesive building layout appropriate for a modern infill setting.

The development also includes 7,142 square feet of ground‑floor commercial space, designed to activate the street frontage and provide neighborhood‑serving uses. In addition, the project incorporates an affordability component totaling 32 designated affordable units serving households earning 80% of Area Median Income (AMI). Collectively, the proposed improvements create a balanced mixed‑income community integrating residential density with limited commercial space.

CONTACT US

Investment Sales

DAVID SORENSEN
Managing Director
WA CRE #26603
206.801.3102
[email protected]

 

BEN JOHNSON
Managing Director
WA CRE #114515
206.801.3144
[email protected]

 

GEORGE PALLIS
Senior Director
WA CRE #138339
206.801.3070
[email protected]

PETER DUDUNAKIS
Associate Director
WA CRE #24008898
206.795.4169
[email protected]

Mortgage Bankers

ROBERT DOXSEE
Managing Director
425.777.0235
[email protected]

 

MICHAEL MANOLIDES
Senior Director
253.670.2143
[email protected]

 

CONNOR LEMLEY
Associate  Director
206.455.1592
[email protected]

Office

411 108th Avenue NE
Suite 1080
Bellevue, WA 98004
425.230.2565
berkadia.com
berkadia.com/northwest

Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage company business in Nevada.  

​© 2026 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by Berkadia Affordable Tax Credit Solutions. For state licensing details for the above entities, visit www.berkadia.com/licensing.

2026 © Berkadia - All rights reserved.