Additionally, the asset is approximately one mile from access to Interstate-5. and is less than one mile from several prominent locations including the Washington State Convention Center, Pike Place Market and the Elliot Bay Waterfront. The property is at the corner of 8th Ave. The web site also highlights the building’s prominent location in Seattle’s bustling South Lake Union neighborhood, offering panoramic views of the Seattle skyline. Some of the community amenities available to residents of Cirrus include a business center, on-site parking, rooftop terrace with an outdoor fireplace and a fitness center. The units feature private balconies and floor-to-ceiling windows, also offering residents open floor plans, chef-inspired kitchens, stainless steel appliances, quartz countertops and plank flooring. The one-bedroom units range from 765 to 927 square feet and rent for between $2,450 and $3,785, while the largest units are between 1,202 and 1,289 square feet, with rents between $3,450 and $4,895, according to the property’s web site. The studios range from 516 to 563 square feet and rent for between $1,780 and $2,545. The high-rise community offers a mix of studio, one-bedroom and two-bedroom units. In addition to the 355 residential units, the property also includes 7,300 square feet of amenity space on the 41st floor, according to the property’s web site. in South Lake Union, the 41-story Cirrus Apartments was built in 2015, and it was designed by Seattle-based Weber Thompson. The transaction most likely involves bringing equity partners into the ownership of the project. GID representatives did not respond for comment about the details of the transaction in time for the publishing of this story. The buying and selling entities of the property share the same address as The General Investment and Development Companies (GID), a Boston-based investment company that developed the project and focuses on multifamily, mixed-use, for-sale condominiums, retail, office and hotel projects. On Thursday, January 8th, the 355-unit Cirrus Apartments sold for $103.3 million, or approximately $290,986 per unit, according to public records filed with King County. There’s no shortage of activity occurring in Seattle’s residential real estate market, and the bustling South Lake Union neighborhood shows no signs of slowing, either.
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