The owners of Crown Hill Cemetery in Seattle have been forced to sell the property after being unable to repay a loan to lenders. According to court documents, the owners had to give up the cemetery as collateral, leading to the property being listed on the market at a price lower than many homes for sale.
Crown Hill Cemetery, which has been a fixture in the north Seattle neighborhood for over 100 years, holds great historical and sentimental value for the community. Despite the owners’ financial challenges, they are determined to ensure that the property remains a cemetery.
The property, which spans nearly 10 acres, was listed by Redfin last Thursday with an asking price of approximately $1.5 million. This significant piece of land was used as collateral by the owners after they were unable to repay a loan, resulting in legal action from the lenders. In 2021, King County Superior Court documents revealed the details of this unfortunate situation.
To oversee the sale of the property, the court appointed a receiver named Constantinescu from Pacific Crest Realty Advisors, a distressed asset management firm. Constantinescu’s primary responsibility is to find a buyer who is a state-licensed cemetery owner, ensuring that the property continues to serve its intended purpose.
The sale of Crown Hill Cemetery presents a unique opportunity for those in the cemetery industry who may be interested in acquiring a property of this nature. While the circumstances surrounding the sale are unfortunate, it is vital to find a buyer who will uphold the sanctity and historical significance of the cemetery.
The hope remains that a suitable buyer will emerge, committed to preserving the cemetery and its legacy. As the sale process unfolds, it will be crucial to monitor any developments and ensure that the integrity of Crown Hill Cemetery is upheld. The community’s support and vigilance will play a crucial role in safeguarding this cherished landmark.
