October 23, 2019 Comments Off on St. Louis Apartment Sale Sets Pricing Record Views: 843 Midwest, Missouri, National News

St. Louis Apartment Sale Sets Pricing Record

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(This story has been updated with additional information.)
Lux Living & Big Sur Construction completed the sale of Tribeca, a 160-unit luxury apartment community in St Louis’ Central West End. The sale price of $44 million, or $275,000 per unit, reportedly represented a record-setting price-per-rentable-square-foot in the market.

A Colliers International team of Will Matthews, Tyler Hague, Bob Galamba and Gregory Russell represented the undisclosed buyers, who subsequently identified themselves as Hamilton Zanze and a Cantor Fitzgerald affiliate. “Our platform facilitated the deal between a highly respected California-based operator and one of the best regional developers, showing once again our ability to source capital from outside the region to deliver the best possible results,” said Matthews.

Built in 2018, the six-story Tribeca offers amenities ranging from Carrera quartz waterfall islands, to wall-mounted smart hubs powered by Alexa. “Our motto, ‘Live Smart,’ has been a great example of blending multifamily and hospitality to cater to the next generation renters focused on technology, community and experiential living,” said Lux Living’s Victor Alston.

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