Cushman & Wakefield has arranged the sale of Greenlake Terrace Apartments, a 48-unit multifamily community built in 1986 and located at 7415 5th Ave NE in Seattle’s Green Lake neighborhood. The property sold for $16.5 million.

Cushman & Wakefield’s Matt Kemper, Tim McKay, Dan Chhan, Jacob Odegard, Dylan Roeter and Byron Rosen represented the seller, Open House Westwood, and procured the buyer, a local family office planning to continue the property’s value-add renovation program. “The combination of location, scale and renovation potential generated strong buyer interest and a highly competitive sale process,” said Kemper.

Greenlake Terrace Apartments offers residents desirable amenities, including secure garage parking, a bike room and updated common areas. Located blocks from Green Lake Park, the community offers immediate access to miles of walking and biking trails, year-round recreational amenities, and a wide array of nearby retail, dining, and entertainment options.