Institutional Property Advisors (IPA), a division of Marcus & Millichap, announced the sale of Skye, an 18-story, 371-unit apartment building with 13,300 square feet of street-level retail in Seattle’s Denny Triangle neighborhood.
“Skye is truly one of Seattle’s most iconic apartment communities, occupying a full city block at the intersection of three dynamic neighborhoods: South Lake Union, Belltown, and Lower Queen Anne,” said Philip Assouad, IPA executive director. “With breathtaking views of the Space Needle and an exclusive, resident-only third-story park spanning half a block, Skye offers a living experience that is second to none. Its unique location puts residents just moments away from global innovators like Amazon, Apple, Microsoft, Google, and the Gates Foundation, making it an unparalleled choice for urban professionals.” Assouad and IPA’s Giovanni Napoli, Ryan Harmon, Nick Ruggiero, and Anthony Palladino represented the seller, and procured the buyer.
Skye’s location places residents within walking distance of Amazon’s world headquarters, Meta, Seattle Center, Climate Pledge Arena, and Pike Place Market. Built in 1949, the property has received significant building upgrades over the past 10 years and all units were upgraded between 2014 and 2016.
Marcus & Millichap, Inc. (NYSE: MMI) is a leading national brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services. As of December 31, 2023, the Company had 1,783 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The Company also offers market research, consulting and advisory services to our clients. Marcus & Millichap closed 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion.
Institutional Property Advisors (IPA) is a leading commercial real estate services firm in North America. IPA’s combination of real estate investment and capital markets expertise, industry-leading technology, and acclaimed research offer customized solutions for the acquisition, disposition and financing of institutional properties and portfolios.
