Two Lincoln Tower is now renting a 4,000 square foot, three-bedroom, three-and-a-half bath penthouse in Bellevue for an outrageous price. For $24,300 per month, residents of Home 4003 will enjoy west-facing views of Lake Washington and the Seattle skyline against a backdrop of the Olympic Mountains.
But will anyone shell out that kind of money for a rental? Apparently, yes. All four of the penthouses in Two Lincoln have been leased, according to officials of Kemper Development Co., as reported by Puget Sound Business Journal. Who are these mystery tenants? Wealthy princes from foreign lands? The company declined to share names of the penthouse tenants with PSBJ, but said most of the people who leased the apartments are local residents.
Of the tower’s 218 total homes, 59 have been leased, a spokeswoman for Kemper Development told PSBJ. Two floors of apartments will come fully furnished and can be leased for as little as three months.The high-rise is part of the $1.2 billion expansion of the mixed-use Lincoln Square project across the street from Bellevue Square Mall.
Two Lincoln Tower will soon be competing with another luxury tower for deep-pocketed tenants. Elev8, a new building composed of three 450-foot-tall residential towers, one 300-foot-tall office building and plazas, will be the most massive high-rise development ever constructed in Bellevue.
The project will consist of a 40-story luxury condominium tower with 351 homes and a 41-story luxury apartment tower with 448 apartments. There also will be 89,000 square feet of retail and 1,479 underground parking stalls, reports PSBJ.
The suburb near the mall has always attracted wealthy residents, but these new developments really put the B for billions in Bellevue.