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$48M Multifamily Sale Completed in Downtown Seattle
JLL has arranged the $47.76 million sale of ArtHouse, a 139-unit multifamily property in Seattle’s Belltown neighborhood.
JLL Capital Market’s Investment Sales and Advisory team, representing the seller, was led by Senior Managing Directors David Young and Corey Marx and Senior Director Chris Ross. ArtHouse, located at 2334 Elliott Ave. in Belltown, Seattle’s most densely populated neighborhood, is strategically positioned within walking distance of both downtown Seattle and South Lake Union. The eight-story mid-rise property, built in 2014, offers access to major employment hubs.
The property features 92,178 square feet of rentable space across studios, one- and two-bedroom units, with some featuring additional dens. ArtHouse is ideally positioned to benefit from Seattle’s comprehensive $806 million Waterfront Redevelopment Project.
“ArtHouse represents an exceptional opportunity in one of Seattle’s most desirable neighborhoods,” said Young. “The property’s strategic location in Belltown, combined with its proximity to major employers and the ongoing waterfront redevelopment, makes it a compelling asset in today’s market,” added Marx.
