SEATTLE, WA – August 3, 2021 – Berkadia announced today the sale of Oslo, a 2020-built luxury mid-rise multifamily property in Seattle, Washington. Managing Directors Steven Chattin, Mitchell Belcher and Jay Timpani, and Associate Director Chad Blenz of Berkadia Seattle, led the transaction on behalf of the seller. The deal closed July 30.
Oslo sold for $18 million, reflecting a per-unit price of $400,000. The property was 100 percent occupied at the time of the sale.
“The sale of Oslo truly provided a win/win outcome for both the developer and buyer,” said Chattin. “An iconic building with unparalleled luxury finishes and amenities, opportunities of this magnitude and quality rarely present themselves. Oslo is a true trophy asset that will continue to be a source of pride for new ownership.”
Built in 2020, Oslo is comprised of 21 studio and 24 one-bedroom apartments averaging 435 square feet. The Property offers modern European touches, Italian Carrara marble surfaces, and the latest Miele appliances. Located 323 Bellevue Avenue E, the property is ideally situated within walking distance of downtown Seattle and minutes from the Capitol Hill Light Rail Station, offering residents an array of neighborhood amenities and proximity to highly desired employment opportunities.