Updated Oct 28, 2024
AIMCO Sells Seattle Multifamily Property For $69M With Broker Reps Philip Assouad, Giovanni Napoli, Ryan Harmon & Nicholas Ruggiero - Institutional Property Advisors
2900 1st Avenue, Seattle, Washington 98121, United States
$69,000,000
Units
135
Asset Type
MultiFamily
Closing
Aug 15, 2022
About this deal
AI
The multifamily property located at 2900 1st Avenue in Seattle, WA, has been sold in a closed transaction. The property consists of 135 units, making the per unit price $511,111. The sale price for the property was $69,000,000.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $69,000,000
- Number of Units: 135
- Price Per Unit: $511,111
The sale of the property was facilitated by Philip Assouad, Giovanni Napoli, Ryan Harmon, and Nicholas Ruggiero from Institutional Property Advisors, who represented the seller, AIMCO. These brokers played a crucial role in closing the deal, ensuring a successful transaction for all parties involved.
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
0.23%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93