Seattle Condo Authority Network • Downtown
Seattle's first LEED Silver-certified residential high-rise at 737 Olive Way. 39 stories, 229 residences, connected to the Hyatt at Olive 8 with shared hotel amenities.
Building Profile
| Building Name | Olive 8 Residences |
| Address | 737 Olive Way, Seattle, WA 98101 |
| Year Built | 2009 |
| Total Units | 229 |
| Stories | 39 |
| Neighborhood | Downtown, Seattle, WA |
| HOA Fees | $800–$2,200/mo (est.) |
| Price Range | $500K–$3.0M |
| Rental Policy | Rental Cap |
| Parking | Assigned underground parking, valet available |
| Pet Policy | Pets allowed (verify size restrictions with HOA) |
| Building Website | oliveeight.com |
About This Building
Olive 8 Residences at 737 Olive Way is Seattle's first LEED Silver-certified residential high-rise, completed in 2009. The 39-story tower occupies a landmark Downtown position at the corner of Olive Way and 8th Avenue, directly connected to the Hyatt at Olive 8 hotel. This integration gives residents access to hotel-level amenities that no standalone residential building can replicate.
The building's 229 residences include one-bedroom to three-bedroom floor plans, many with floor-to-ceiling windows and sweeping views of Downtown Seattle, Capitol Hill, Lake Union, and Puget Sound from upper floors. LEED Silver certification reflects Olive 8's energy-efficient design, including advanced mechanical systems and sustainable operational practices.
Residents enjoy exclusive access to the Hyatt at Olive 8's full-service spa, indoor pool and hot tub, state-of-the-art fitness center, and multiple dining venues. A dedicated residential concierge provides building services separately from hotel operations. This amenity combination makes Olive 8 one of Downtown Seattle's most comprehensively serviced addresses.
Olive 8 operates under a rental cap, supporting owner-occupancy levels that benefit long-term resale values. With over 15 years of operating history, the building's HOA reserves are mature and its resale record is well-documented. Jeff Reynolds has deep expertise in Olive 8's floor plan values, view orientations, and the nuances of hotel-connected condo ownership.
Buyer Analysis
Olive 8 offers a rare combination: LEED Silver sustainability credentials, a direct hotel services connection, and a prime Downtown address. Here is Jeff Reynolds's assessment of the building's key strengths, cautions, and the questions buyers need to answer.
Olive 8's sustainability certification signals above-average construction quality, lower operating energy costs, and a building designed with long-term durability standards that many comparable towers don't share.
Residents have access to Hyatt at Olive 8's amenities—fitness, spa, and hotel services—at shared-building rates. This amenity model delivers hotel-quality service without a standalone luxury HOA cost model.
15+ years of HOA operation means fully documented reserve fund history, well-established governance, and a proven resale track record. The 2009 vintage is a sweet spot—modern specs with no new-construction uncertainty.
737 Olive Way places residents in the center of Seattle's downtown retail and cultural core. Upper-floor views of Elliott Bay, Lake Union, and the Cascades are among the city's most panoramic.
Olive 8 operates under a rental cap. Buyers who want investment flexibility or rental optionality must verify current cap availability and HOA waitlist status before writing an offer.
$800–$2,200/month is a wide range. Buyers should request the specific fee for their target unit and model full carrying costs carefully against comparable buildings.
How is the cost-sharing arrangement between the Hyatt hotel and the residential HOA structured? Are there any shared costs that could change if the hotel management changes?
Request the most recent reserve study. What is the current percent-funded level and what major capital projects are projected in the next 5–10 years?
If rental flexibility matters now or in the future, what is the current HOA rental cap utilization and what is the estimated waitlist timeline?
Advisory
Olive 8's hotel services connection and LEED Silver credentials attract a buyer type that is harder to serve well in most Seattle luxury buildings. The following profiles describe who finds the building genuinely compelling.
The Hyatt at Olive 8 connection—spa, hotel-grade fitness, room service, and hotel amenities—is designed for buyers whose lifestyle includes extended travel. When they leave, the building operates as a hotel. When they return, they come home to the same building. No other Seattle condo replicates this model.
737 Olive Way's Walk Score of 99 is one of Seattle's absolute highest. Major law firms, financial institutions, tech campuses, and the city's professional core are all walkable. Buyers whose work centers Downtown typically find that Olive 8's location eliminates commuting entirely.
Olive 8 is Seattle's first LEED Silver-certified residential high-rise. Buyers who want above-standard construction quality, lower operating energy costs, and a building built to long-term durability standards find Olive 8 is one of very few luxury towers that delivers environmental credentials alongside a premium address.
Buyers transitioning from large Eastside single-family homes often target Olive 8 specifically for the hotel services model. The combination of downtown walkability, full building services, and the Hyatt amenity connection produces an urban lifestyle that most luxury buildings cannot match—making downsizing feel like a deliberate upgrade.
Market Data
Olive 8 is a LEED Silver Downtown high-rise with a direct connection to the Hyatt hotel's amenity and service infrastructure. Pricing reflects a premium address at 737 Olive Way and an amenity model no standalone condo building can replicate.
Entry-level residences in one of Downtown Seattle's most walkable addresses. The hotel services connection adds amenity value that standalone buildings at similar price points cannot match.
Two-bedroom residences span a wide range based on floor, view, and unit configuration. Upper-floor units with Elliott Bay or Cascade views trade at a meaningful premium over lower-floor or courtyard-facing units.
Upper-floor residences with panoramic Elliott Bay, Lake Union, or Seattle skyline views. These units represent Olive 8's most durable pricing tier and historically retain value best through market softening.
Olive 8's hotel services connection and LEED Silver credentials give it a differentiated market position among Seattle's 2009-vintage luxury buildings. Pricing tracks closely with Escala at comparable floor levels and unit sizes, though Olive 8's hotel amenity access is a meaningful intangible that resale buyers consistently cite as a differentiator. The building's 15-year resale record provides reliable comparable sales data for appraisals. Contact Jeff Reynolds for current Olive 8 listings and recent closed sale data.
Knowledge Base
Before buying any Seattle condo, these guides answer the questions every buyer should resolve about HOA finances, financing eligibility, and closing requirements.
What condo HOA fees cover, how they're calculated, and what to look for in a building's fee structure.
How reserve funds work, what percent-funded means, and why the reserve study matters before you buy.
How rental caps, owner-occupancy ratios, and HOA delinquency rates affect your loan eligibility.
What the resale certificate contains, why it matters, and the key red flags buyers should watch for.
Explore More
Other condos in Downtown Seattle at a similar price tier, with links to full building profiles, buyer analysis, and current market data.
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Frequently Asked Questions
Olive 8 Residences is located at 737 Olive Way, Seattle, WA 98101 in Downtown Seattle, at the corner of Olive Way and 8th Avenue. The building is directly connected to the Hyatt at Olive 8 hotel and is within walking distance of Capitol Hill, the Downtown retail core, Seattle Central Library, and multiple transit options. Walk Score exceeds 97.
Olive 8 has 229 residential units across 39 floors, completed in 2009. Floor plans range from one-bedroom to three-bedroom residences. Upper floors deliver panoramic views of Downtown Seattle, Capitol Hill, Lake Union, and Puget Sound. Contact Jeff Reynolds for current inventory, recent sale prices, and floor plan availability.
Olive 8 Residences was completed in 2009 as Seattle's first LEED Silver-certified residential high-rise. The building's sustainable design and hotel-connected amenity package established a new benchmark for Downtown Seattle luxury condo living. With 15+ years of operating history, the HOA reserves are mature and financials are fully transparent.
HOA fees at Olive 8 are estimated at $800 to $2,200 per month depending on unit size and floor. These fees reflect the building's exceptional amenity package: access to the Hyatt hotel spa, indoor pool, fitness center, residential concierge, and 39-story building operations. Contact Jeff Reynolds for the current fee schedule and reserve fund analysis.
Yes, Olive 8 Residences operates under a rental cap. Buyers planning to lease their unit should verify current rental availability with the HOA before purchase. The rental cap supports high owner-occupancy and protects long-term resale values. Jeff Reynolds can pull the current rental concentration data before you submit an offer.
Your Downtown Condo Specialist
Jeff Reynolds is Seattle's leading specialist in urban condominiums, with deep expertise in Olive 8 Residences and every building in the Seattle Condo Authority Network. If you're buying or selling at Olive 8 Residences, Jeff has the data, the relationships, and the track record to represent you.
Jeff tracks every sale at Olive 8 Residences, maintains HOA financial data, and knows which floor plans and view orientations hold value best. This depth of building-level knowledge is what separates a specialist from a generalist.
Jeff Reynolds • Seattle Condo Authority Network • jeff.reynolds@compass.com
Current listings, recent sales, HOA financials, and buyer strategy. No obligation.