80 Main was built in 2015, making it one of the newest buildings in the area. Its location in Pioneer Square, Seattle’s oldest neighborhood, provides pedestrian and public transit access to the soon-to-be completed Alaskan Way project along the Seattle waterfront, the Central Business District, International District and stadiums. Moreover, the redesign of portions of King, Main and Washington streets, Yesler Way and 2nd Avenue South will improve pedestrian circulation by reducing vehicle travel lanes and limiting some traffic directions.

The 45-unit multifamily apartment recently sold for $17.55 million. The buyer was Seattle-based Unico Investments.

The Colliers team was led by Tim McKay, Dan Chhan, Sam Wayne, Matt Kemper and Michael McQuaid. The team represented the seller, a private investor, and sourced the buyer.

“Seattle multifamily investment sales are rebounding significantly in 2021, and the sale of 80 Main is a perfect example of a competitive listing process, resulting in many competing offers from highly qualified bidders,” said McKay. “Attractive bridge financing allowed the buyer to execute a core-plus strategy that should pay dividends for years to come as rents continue to improve and Alaskan Way wraps up construction.”

Apartment units at 80 Main consist of studios averaging 532 square feet, one-bedroom units averaging 587 square feet, two-bedroom units averaging 845 square feet and a three-bedroom live-work loft averaging 1,343 square feet.