Jacobson Co. Sells Alley24 Multifamily Property in Seattle’s South Lake Union for $90M

by Amy Works

SEATTLE — The Jacobson Co. has completed the sale of Alley24, an apartment community located at 241 Yale Ave. in Seattle’s South Lake Union neighborhood. An undisclosed buyer acquired the property for $90 million.

Built in 2006 and remodeled in 2014, Alley24 features 172 apartments in a mix of studio, one- and two-bedroom layouts with an average unit size of 722 square feet. Community amenities include a 24-hour gym, resident lounge with catering kitchen, media room, rooftop deck with city skyline views and ground-floor retail space.

Eli Hanacek, Jon Hallgrimson, Mark Washington and Kyle Yamamoto of CBRE represented the seller in the deal.

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