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No fear — You can still buy a Ferrari (or two) on Capitol Hill

If you were worried by the construction going on inside its 12th at Union showroom that you might have to rush to buy your new Ferrari before Ferrari and Maserati of Seattle leaves Capitol Hill, fear not.

The dealership isn’t going anywhere. Good news for those enjoying the soaring incomes of Seattle — and Bellevue, for that matter.

CHS has received a few notes asking about the dealership — the last auto retailer left on Capitol Hill — and whether it is joining the road traveled by other Hill dealerships that have shifted gears into new locations with room for spacious showrooms like SoDo.

CHS reported here way back in March 2012 on our last of its kind auto dealership’s plans to revamp its showroom and facilities in the 12th Ave building it has owned since the late 90s. 

The Perrina family owns the land its dealership calls home, acquiring the parcels in 1999 for $3.5 million. The dealership encompasses 33,000 square feet in warehouse and garage space, a 600 square-foot office and a 2,100 square-foot showroom. It also includes a small 135 square-foot parking lot that exits onto 11th Ave and is a good place to see the high performance cars heading out for a run in Pike/Pine. The single-story buildings the dealership calls home date to 1913, according to county records.

Meanwhile, the company behind the dealership hasn’t yet revealed plans for the E Madison auto-row era garage it purchased for $2.25 million a year ago this month. With neighboring business Chop Suey still apparently for sale, you can let your super fast car imagination run wild.

The project to overhaul the 12th at Union showroom boasts only a modest $340,000 construction budget, according to city records, though those totals typically don’t include costs for finishings and equipment. Meanwhile, cars worth from $120,000 to more than $380,000 continue to be sold. So, let’s see. Under the transit tax on November’s ballot, a big sale would mean $380 to fund Seattle bus routes. Thanks, fancy car buyers!

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  1. Pingback: In Capitol Hill tech M&A, Redfin closes deal for 12th Ave’s Walk Score | CHS Capitol Hill Seattle