Nobu will rebrand the two residential towers at Avenue Bellevue as Nobu Residences and open a 10,000-square-foot restaurant at the $1 billion-plus development in 2027, Shawn Katz said.
The move makes Bellevue the site of Nobu’s first residential opening in the United States and the company’s first restaurant in the Pacific Northwest, according to the companies and as first reported by the Puget Sound Business Journal. Silverstein has entered a business agreement with Nobu, though Silverstein did not disclose financial details of the deal.
Avenue Bellevue sits just north of Bellevue Square in downtown Bellevue and already includes two residential towers, a 208-room InterContinental Bellevue and about 80,000 square feet of retail. The project contains 365 condo units that range from 959 to 4,725 square feet, with listed prices running from $795,000 to $16 million.
Sales for the residences launched in March 2025; roughly 35% of the units had sold by the time of the announcement. The presence of Nobu — which has more than 50 restaurants and several dozen hotels worldwide and was co-founded by Robert De Niro and Nobu Matsuhisa — is intended to heighten the development’s global profile.
Katz called the partnership a “game changer” and framed it as recognition that “Bellevue has really emerged as a global destination for business and luxury entertainment, and so Nobu was focused on the market.” He said the two groups moved in step: “We both really wanted to do this at the same time and ultimately their vision was much aligned with ours. So it’s really a win-win for all of us.”
For existing and prospective residents, Katz said changes to private homes will be minimal: residents won’t see a dramatic change to their homes. He added that Nobu will likely upgrade common areas and bring “significant hospitality improvements” to the buildings, while the biggest perk for residents will be access to Nobu’s global ecosystem — including priority reservations at Nobu restaurants worldwide and discounted access to Nobu hotels and properties globally.
The restaurant portion is slated to open in 2027 and will occupy 10,000 square feet inside Avenue Bellevue. The development’s mix of high-end condos, branded hotel inventory and substantial retail aimed to position the project as a downtown hub; the Nobu tie-in signals a further tilt toward luxury hospitality and international brand cachet.
What remains opaque is how the undisclosed financial terms will affect pricing and amenities for the unsold roughly 65% of units, or how much Nobu’s brand will alter the buildings’ operating model. Silverstein did not release dollar figures, and the agreement leaves open questions about whether upgrades will be funded through developer budgets, homeowner assessments or operating partnerships with Nobu.
Still, the calculation for Silverstein and for buyers is straightforward: a globally recognized hospitality brand attached to residences and a flagship restaurant typically raises visibility and demand. With more than 50 restaurants and several dozen hotels worldwide, Nobu’s entry gives Avenue Bellevue direct links into an international customer and guest base that existing condos and the InterContinental alone could not guarantee.
For residents who bought in at prices from $795,000 to $16 million and for buyers still choosing among the 365 units, the immediate effect will likely be softer than a renovation blitz — Katz’s assurance that there will be no dramatic home changes squares with the promise of upgraded common areas and hospitality services. In short: Nobu Bellevue will bolt a globally known hospitality engine onto an already expensive, urban project without remaking residents’ private spaces.
The deal closes the loop on Avenue Bellevue’s strategy to marry luxury lodging, branded dining and high-end condominium living. It will also set a clear expectation about what comes next: higher-profile restaurant traffic, stronger ties to Nobu’s global reservations network, and a repositioning of the project from local mixed-use development to a destination with international reach.
