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Hotel value falls by half since '07

Posted on April 10, 2010
Clarion Hotel, which sold for nearly $10.65 million two and half years ago, was bought for $5.4 million last week, public records show.

That equals a more than 49 percent drop in value.

The four-story hotel at 3700 East Valley Road was built in 1986. It sits on just over 1.6 acres and abuts state Route 167.

In August of 2007, a limited liability company, Growing Tomorrow, bought the hotel.

Last week, Sung Won Co. LLC bought it from Stephen K. Post, according to a document recorded with King County. State records list Won Sang Cho of Bellevue as Sung Won's agent.

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