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September 22, 2021

Greystar pays nearly $138M for new 24-story U District tower

Real Estate Editor

Photo by Brian Miller [enlarge]
Looking east on 47th, where The M has a KeyBank on the corner. (The crane peeking out is for a student housing project now replacing the former University Christian Church at 50th.)

The M, at 4700 Brooklyn Ave. N.E., has sold for a little over $137.7 million, according to King County records. The buyer was GEDR Brooklyn LLC, associated with Greystar, which already manages the 24-story student housing tower. Public records indicate a large loan from Fannie Mae, sourced though Capital One.

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