Boston company pays $41M for two Ballard apartments

photo (48)Two new apartment buildings in Ballard just sold for $41.1 million to a company in Boston, according to an article in the Puget Sound Business Journal (PSBJ). The apartments are Noba at 8022 15th Ave NW and Belay, at 6559 15th Ave NW. Noba has about 60 units, but the larger Belay (right across the street from Ballard High School) has about 100 units.

photo (47)Both apartments, built in 2012, were developed by Goodman Real Estate, located in Ballard. The PSBJ reports that the buyers are two limited liability companies, both with the same address as Intercontinental Real Estate Corp. in Boston. George Petrie, Goodman President and CEO, told the PSBJ that both buildings are about 95 percent leased, with units ranging from 400 to 950 sq. ft. and rent ranging from $1,100 to $2,360. Belay has a rooftop deck with gas fire pits as well as underground parking. The Noba apartments also have a rooftop deck, and both apartments boast easy access to bus lines.

Goodman Real Estate has a number development projects, including apartment and commercial buildings all over Seattle and in surrounding cities.



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