The recent sale of SKY Sammamish, a premier multifamily property in Sammamish, Washington, for $71 million has garnered attention in the real estate market. The 159-unit property was sold to an undisclosed buyer at a price of approximately $446,540 per unit. The transaction was facilitated by CBRE’s Eli Hanacek, Mark Washington, and Kyle Yamamoto, who represented the seller, MainStreet Property Group & HAL Real Estate, Inc.
Mark Washington, Executive Vice President at CBRE, highlighted the unique opportunity that SKY Sammamish presented to buyers. The property is located in the exclusive Sammamish submarket, making it a desirable investment. The negotiation process involved working closely with both the buyer and seller to reach mutually beneficial terms for an off-market transaction. This sale underscores the ongoing demand for high-quality residential properties in the region.
SKY Sammamish offers a range of one-, two-, and three-bedroom units, as well as two-story townhomes with private entrances. The community boasts contemporary architecture with high-end finishes, open floor plans, large windows, walk-in closets, and private balconies. Sustainability was a key consideration in the property’s design, leading to its LEED gold certification. Residents can enjoy amenities such as a state-of-the-art fitness center, a top-floor sky view lounge, and a landscaped courtyard with a fire pit, barbecue area, and pickleball and basketball court.
The property’s location is another attractive feature, as it is adjacent to Sammamish Village, a mixed-use development with healthcare, grocery, and retail options. Additionally, residents have easy access to a new YMCA, the Sammamish Farmers Market, the Sammamish Library, a youth skating park, a 25-acre park with a community garden, and two top-rated schools in Washington. These amenities contribute to the overall appeal of SKY Sammamish as a desirable place to live.
CBRE Group, Inc., the company that facilitated the sale of SKY Sammamish, is a Fortune 500 and S&P 500 company headquartered in Dallas. As the world’s largest commercial real estate services and investment firm, CBRE has a global presence with over 130,000 employees serving clients in more than 100 countries. The company offers a comprehensive suite of services, including facilities, transaction and project management, property management, investment management, appraisal and valuation, property leasing, strategic consulting, property sales, mortgage services, and development services.
In conclusion, the sale of SKY Sammamish for $71 million highlights the continued demand for high-quality residential properties in sought-after markets like Sammamish, Washington. The property’s attractive features, amenities, and location make it a desirable investment opportunity for buyers looking to capitalize on the growing real estate market in the region. With the expertise of CBRE facilitating the transaction, both the buyer and seller were able to achieve a successful outcome in this off-market deal.
