The Promote Podcast Sleepless in Seattle: The Martin Selig Story
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Dec 3, 2025 Explore the dramatic rise and fall of Martin Selig, a titan of Seattle's skyline. His early life and bold entrance into real estate reveal a maverick spirit. Discover how clever zoning laws and high-stakes construction loans fueled his empire. Learn about his aggressive leasing tactics and risk appetite that shaped his career. The pandemic's impact on empty towers leads to a valuation crisis, highlighting structural shifts in office demand. Will legacy and succession plans save him from losing it all?
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Immigrant Roots To Skyscraper Empire
- Manfred Selig arrived in Seattle from Europe with a few gold coins and built a successful life for his family.
- His son Martin grew into a dominant, risk-taking developer who built a vast Seattle skyscraper empire.
Code Arbitrage Fueled Massive Growth
- Selig exploited a 1970s Seattle building code to build outsized towers nobody else attempted then.
- Building where replacement cost is irrelevant rewarded bold, early scale in a rising regional market.
High-Interest Bet On Columbia Center
- To build Columbia Center Selig took an 18% interest $200M construction loan on spec and completed the 76-story tower in 1984.
- He sold it four years later for $350M to raise cash and keep his wider empire afloat.