Domaine (aka Lake Union View)
Moran & Company is pleased to announce that it has been retained as the exclusive listing agent for the sale of Domaine (Lake Union View) Apartments, a 91-unit pre-sale apartment community located in Seattle’s downtown/Lake Union. This Class-A apartment community is situated on a hillside overlooking Lake Union, providing residents with unparalleled views not experienced elsewhere in Seattle. Domaine (Lake Union View) Apartments is one of very few new core opportunities to come onto the market in Seattle within the past years. Upon completion, the property will offer some of the highest quality interior finishes and most discriminating design in the market. Domaine (Lake Union View) Apartments is currently under construction and is being offered as a pre-sale on an “as is, where is” basis. Closing can occur immediately on or before issuing a temporary certificate of occupancy.
- Domaine (Lake Union View) Apartments is being developed as high-end luxury condo
product. The units will feature premium finishes appealing to the most discriminating residents.
- The property can be purchased below current projected construction costs,
providing above market core yields.
- Seattle ranks as one of the nation’s top investment markets due to a limited
development pipeline, increasing housing costs, significant negative supply
of apartments and continued strong rental and job growth.
- During the past four years the Seattle area has generated approximately
200,000 new jobs and experienced over 9,300 units of negative supply.
- In 2007, the tri-county Seattle area only expects approximately 2,200 new
apartment units to be delivered in and rent growth of approximately 8.6%.
- Seattle’s downtown is the largest job center in the Puget Sound area, home
to approximately 250,000 jobs.
- Paul Allen’s Vulcan Company is currently redeveloping over 60 acres in the
South Lake Union neighborhood, which includes 1.5 million sq. ft. of office
space that is on a fast-track basis for a new user.
- Domaine (Lake Union View) Apartments offer some of the most sought after views in
Seattle overlooking Lake Union and looking back at the downtown Seattle skyline.