Updated Sep 1, 2026
David Millstone Of Waterton Acquires 344-Unit Apartment Tower In Seattle For $155 Million
2116 4th Avenue
$155,000,000
Units
344
Asset Type
MultiFamily
Closing
Aug 28, 2026
About this deal
AI
This multi-family asset, located at 2116 4th Avenue in Seattle, WA, has been sold for $155,000,000. The property consists of 344 units, resulting in a price per unit of $450,581, and is situated in the Belltown neighborhood.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $155,000,000
- Buyer: David Millstone
- Buyer's Company: Waterton
- Seller: Affiliate of Binjiang Tower Corp.
David Millstone, representing Waterton, facilitated the acquisition of the Arrivé apartment tower, marking a significant transaction in the multi-family sector in Seattle's real estate market.
Players
Seattle MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.10%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93