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August 26, 2014

Gatsby Apts Sold for $35.5M

CoStar Group

Elizabeth Davis

Continental Properties LLC sold the 70-unit Gatsby Apartments at 1145 10th Ave. E in Seattle, WA to Fritzi Realty for $35.53 million, or about $506,000 per unit.

The brand new building was completed in March and totals 64,000 square feet on almost an acre at the southwest corner of E. Highland Drive in King County. The property consists of studio, one-, and two-bedroom units.

Philip Assouad and Giovanni Napoli of Kidder Mathews represented both sides of the sale.

Please refer to CoStar COMPS #3087461 for more information on this transaction.

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