Updated Dec 4, 2024
Casey Lynch - Roundhouse Acquires Multifamily Property In Seattle For $76.3M
1001 Minor Avenue
$76,300,000
Units
209
Asset Type
MultiFamily
Closing
Jun 28, 2024
About this deal
AI
The 17-story Sentral First Hill apartment tower located at 1001 Minor Avenue in Seattle, WA, was sold in a recent multifamily property transaction. The property was acquired by Casey Lynch, representing Roundhouse, from an affiliate of Iconiq Capital for $76.3 million. The transaction involved 209 units, amounting to a price per unit of $365,072.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $76,300,000
- Units: 209
- Price Per Unit: $365,072
- Buyer: Casey Lynch - Roundhouse
- Seller: Affiliate of Iconiq Capital
Casey Lynch led Roundhouse in the acquisition of the Sentral First Hill apartment tower in Downtown Seattle. The deal, which took place on June 28, 2024, marked a significant discount from the property's previous sale under Iconiq Capital five years ago.
On the Map
$76,300,000
MultiFamily
View full map
Players
Seattle MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Deal FAQ
Browse Seattle multifamily sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.21%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93