New record: Apartment tower near Pike Place trades for $293M

February 23, 2022

A limited liability company affiliated with PGIM paid $293 million for the 4-year-old, 39-story West Edge luxury apartment tower near the entrance to Pike Place Market, according to the sales affidavit that King County posted Tuesday.

The price per unit works out to around $861,765 a unit, which is a regional record, though the total sales price does not factor in the 340-unit development’s ground-floor commercial spaces at Second Avenue and Pike Street. The spaces are leased to Wells Fargo and outdoor clothing and equipment retailer Kühl.