Seattle (July 17, 2019) – The Lavanch Apartments, a 20-unit apartment building located in the mansion district of Seattle’s Capitol Hill neighborhood, recently sold for $6.85 million. Colliers International’s Joe Levin represented the seller, Alavanch, LLC, which acquired the property in 2013. Paragon Real Estate Advisors’ David Petersen and Chad Martini represented the buyer, Kianfar, LLC.
The Lavanch Apartments was built in 1930 by Earl W. Morrison, a famous architect also known for other classic buildings in the Seattle area including the Marlborough House and The Olive Tower. Morrison’s art deco designs are evident throughout the building in the terra cotta facade, stained glass windows and light fixtures. Located at 956 10th Avenue East, the Lavanch Apartments is one block from Volunteer Park and a few blocks from many popular restaurants, cafes, boutique shops, and retail stores on Broadway Avenue. The Capitol Hill Link light rail station is six blocks south, while the University of Washington, downtown Seattle and South Lake Union are less than three miles away by bus.
Levin stated “The Lavanch Apartments is a trophy building in one of the best locations in Seattle. It’s rare to find a building of this age that has been so well maintained over the years. Investor interest in the property was very high, and we received multiple offers.“
About Colliers InternationalColliers International (NASDAQ, TSX: CIGI) is a leading global real estate services and investment management company. With operations in 68 countries, our 14,000 enterprising people work collaboratively to provide expert advice and services to maximize the value of property for real estate occupiers, owners and investors. For more than 20 years, our experienced leadership team, owning more than 40% of our equity, have delivered industry-leading investment returns for shareholders. In 2018, corporate revenues were $2.8 billion ($3.3 billion including affiliates), with more than $26 billion of assets under management. Learn more about how we accelerate success at corporate.colliers.com, Twitter @Colliers or LinkedIn. To see the latest news on Colliers International in the Puget Sound Region, follow @CI_PugetSound on Twitter or check out the website at www.colliers.com/seattle.
