SEATTLE — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has directed the sale of Skye, an 18-story apartment property in Seattle’s Denny Triangle neighborhood. Terms of the transaction were not released. Philip Assouad, Giovanni Napoli, Ryan Harmon, Nick Ruggiero and Anthony Palladino of IPA represented the seller and procured the buyer.
Built in 1949, Skye has undergone significant building upgrades over the past 10 years and all units were upgraded between 2014 and 2016. The property has a controlled-access parking garage, a rooftop terrace, fenced dog park, walking trails and green lawns. The community offers 371 studio, one- and two-bedroom apartments with new cabinets, quartz countertops, stainless steel or black appliances, and new plumbing and lighting fixtures. Skye also offers 13,300 square feet of ground-level retail space.