The buyers plan a new tech future for the building made famous in the 1990s by seven strangers in a long-running MTV reality show.

Seattle's Pier 70, featured in MTV's " The Real World " in 1998, sold for $11 million. The historic pier was previously purchased in 1995 for $276,316. Landmark Event Co. acquired the property, which includes two parcels on the waterfront.

"There are only four privately owned piers in Seattle. This might be the only one that trades hands in our lifetime," the new owner said.

Pier 70, built in 1902, is among four privately owned piers on Seattle’s waterfront. It was renovated in 1999, but now needs major work. Agarwal said the purchase price, a quarter of its roughly $40 million assessed value, recognizes how much money must be poured into it.