The Boston Mob That Bought Seattle
A mysterious syndicate from the East Coast has quietly acquired over $75,000 worth of land around Lake Washington and downtown, sparking rumors of a coordinated takeover by wealthy outsiders.
Within the last week, Mr. Chapman, acting for certain parties in Boston, has made several notable purchases of real estate land near this city, amounting in all to over $75,000.
The list of properties acquired includes lots on Lake Washington, the addition of U.S. Grant, and Savin's Addition.
It is worthy of special note that, knowing as they do the value of several good sites in the business part of town, they have secured them at a very low figure.
The company of whom Mr. Chapman has made these purchases are the 'Boston Mob' and other bankers on Second Street, and it can certainly be regarded as worthy of special note that, knowing as they do the value of several good sites in the business part of town, they have secured them at a very low figure.
The people in the East leave large sums of money in Boston, Minneapolis, Omaha and Kansas City, and have done an important part in the development of those places. They are likely to do as much for Seattle, and their interest here is one of the important facts in the more recent progress of the city.
This 1890 report captures the anxiety of early Seattle residents watching wealthy outsiders—dubbed the 'Boston Mob'—scoop up prime real estate. It mirrors modern debates about external investment firms and tech giants driving up housing costs and displacing local ownership in cities like Seattle today.
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