Martin Selig

Martin Selig
Born	1936/37 Germany
Occupation(s)	Property developer, real estate investor
Known for	Development of Columbia Center, Seattle's tallest skyscraper
Notable work	Columbia Center

Martin Selig (born 1936/37) is a property developer of German origin, based in the United States, recognized for his significant contributions to Seattle's skyline, most notably the Columbia Center, the tallest skyscraper in the city. His net worth was approximated at $2 billion in 2019. However, between December 2024 and June 2025, the majority of Selig's real estate holdings in Seattle were transferred to creditors or placed under receivership following defaults on loans exceeding $850 million.

Early life

Martin was born into a Jewish family in Germany. His father, Manfred Selig (1902–1992), fled Nazi persecution in 1939 after being designated "undesirable." The family journeyed through several countries before ultimately settling in Seattle. There, Manfred established "Selig's Linen Shop," launched a children's apparel enterprise, and became an art collector.

Career

Selig’s career began working in his father’s children's clothing business before he ventured into real estate development with his first shopping center project in 1962. In 1979, a proposed 48-story tower in Belltown was abandoned due to opposition from local residents. By the 1980s, he controlled close to one-third of Seattle’s office space market. Forbes estimated his net worth at $270 million in 1987. He completed the development of the Columbia Center in 1985 and sold it four years later for $354 million.

In 2015, Selig purchased the 1950s-era Federal Reserve Bank Building for $16 million and initially planned to construct a high-rise atop it. After preservation advocates raised concerns, the design was scaled back to an eight-story addition. The refurbished building reopened in 2020 but lacked a major tenant.

By October 2015, Martin Selig Real Estate owned a substantial portion of Seattle’s office market, with his net worth estimated at $1.1 billion. This figure increased to $2 billion by 2019. The company faced scrutiny over delayed electricity payments amounting to $1.9 million in 2016.

The onset of the COVID-19 pandemic had a profound effect on both Seattle’s office sector and Selig’s financial standing. In March 2024, a $239 million loan secured by seven downtown properties was identified as at risk of default and assigned to a special servicer. By April, outstanding bills had reached at least $8 million, including $3.4 million in unpaid property taxes. Further loan defaults occurred: a $240 million loan default was reported in November 2024, and by December, Selig Real Estate disclosed its inability to repay a $379 million loan due in April 2025. Overall delinquent or defaulted loans exceeded $800 million across eighteen properties.

Financial difficulties persisted into 2025. In February, seven parking lots collateralized by Goldman Sachs entered receivership following a $50 million loan default. The following month saw layoffs of 86 employees from a workforce numbering under 200. Martin’s daughter and designated successor Jordan Selig resigned in April. That same month, two mostly vacant office buildings—400 Westlake and the Federal Reserve Building—were handed over to lender Acore Capital. Additional assets, including the Modern building, were lost due to unpaid loans during May and June 2025.

Projects

• Columbia Center (held ownership until 1989): recognized as Seattle's tallest structure since its completion
• 1000 Second Avenue: served as the corporate headquarters (ownership retained until 2025)
• Fifth & Yesler Building
• Fifth & Jackson Building
• 1015 Second Avenue, location of the Federal Reserve Bank Building (owned until 2025)
• The Modern (the initial residential tower, opened in 2020; ownership maintained until 2025)

Personal life

Selig is both an art enthusiast and painter, possessing pieces by artists such as Rembrandt and Toulouse-Lautrec.

He was married to Andrea Selig until their divorce in 1995; together they have three children: David, Lauren, and Jordan. Subsequently, he wed artist Catherine Mayer.

Lauren Selig, a Hollywood executive producer, was married to Kyril Faenov, former leader of Microsoft's High Performance Computing Lab, who passed away in 2012.

Jordan Selig, formerly considered the likely successor of Martin Selig Real Estate, departed from her position as executive vice president in April 2025.

Political views

Selig is a contributor to the Republican Party. He initially supported and intended to host a fundraiser for Donald Trump during the 2016 presidential race but later retracted his backing. He donated $50,000 to Trump's 2020 campaign.