An apartment tower across the street from Amazon’s Seattle headquarters sold for more than $287 million in the Puget Sound region’s largest multifamily deal in almost four years.
Weidner Apartment Homes bought the two-tower, 654-unit Via6 development at 2121 Sixth Ave., directly across from The Spheres, glass conservatories that serve as employee and tourist hubs at Amazon’s campus in Denny Triangle.
The deal highlights how renter demand is shifting back toward downtown neighborhoods as more workers return to the office, said Elliott Krivenko, CoStar’s senior director of market analytics in Seattle.
“Being right across from Amazon’s main campus makes this property incredibly attractive to renters who want convenience in the heart of the city,” Krivenko said.
Kirkland-based Weidner bought the complex from an affiliate of Pine Street Group, which developed the complex in 2013, and Bethesda, Maryland-based NewTower Trust.
The deal marks the largest single multifamily sale in the region by price since the 39-story West Edge in downtown Seattle traded for $293 million in February 2022.
Apartment sales volume in greater Seattle is on track to reach $5.8 billion this year — the highest since 2022’s total of just under $5.9 billion, according to CoStar analytics.
Office worker boost
Apartment occupancy and overall worker foot traffic in downtown Seattle have shown signs of improving this year since January, when Amazon called its corporate and tech workforce back to the office five days a week, according to data from the Downtown Seattle Association.
The number of occupied downtown apartments rose to nearly 60,663 in the third quarter of this year — up 3.6% from the same period last year, and more than 20% higher than the same quarter in 2019, according to an analysis of CoStar data by the association.
Via6 covers a full city block, with more than 12,600 square feet of shops and restaurants at the ground level. The complex is also near the Seattle offices of Meta, Apple and Google.
The development’s studio, one- and two-bedroom units that average 716 square feet have asking rents that average $2,487 a month, more than 20% higher than the region’s monthly average of $2,063, according to CoStar’s Apartments.com.
The acquisition brings Weidner’s Seattle-area holdings to 7,370 apartment units. The real estate investment and property management firm’s portfolio includes properties in 13 states and four Canadian provinces.
For the record
Corey Marx, David Young and Chris Ross of JLL represented the seller.