Pacific Urban Investors Pays Over $500k/Unit for Seattle MF Property
Pacific Urban Investors purchased Broadstone Vin, a 118-unit, mid-rise multifamily property in Seattle, Washington, in a transaction valued at $60.3 million, according to published reports. The deal works out to just over $500,000 per unit.
Located at 4106 Stone Way North, Broadstone Vin was built by Alliance Residential Company in 2022 and includes 6,063 square feet of retail space. The five-story community boasts a mix of four studios, 87 one-bedroom and 27 two-bedroom units. The property includes 71 parking spaces.
Benjamin Johnson, David Sorensen, George Pallis and Peter Dudunakis with Berkadia Seattle led the transaction on behalf of the seller, CRP/AR Stoneway Owner LLC.
“Broadstone Vin stands out for its modern design and distinctive resident experience in Seattle’s vibrant Stone Way neighborhood,” said Sorensen. “The boutique community pairs thoughtfully designed homes with premium retail space, while amenities such as the expansive rooftop deck overlooking downtown Seattle and Lake Union create a compelling sense of place.”
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout