S.F. apartment deal hits $115 million
Site located in city's Mission Bay area
By Inman News, Monday, April 28, 2008.Brokerage Marcus & Millichap recently arranged the sale of Edgewater Luxury Apartments, a 193-unit multifamily community in San Francisco.
The sales price of $115 million represents $595,855 per unit.
UDR Inc. purchased the class A property from Urban Housing Group. Located at 355 Berry St. between Fifth and Sixth streets, the 157,203-square foot, six-story apartment building is situated on a 157,135-square-foot lot.
Built in 2007, Edgewater Luxury Apartments features a mix of one- and two-bedroom units along with a limited number of loft units. Community amenities include a clubroom with fireplace, flat-panel television and kitchen for entertaining, 24-hour media fitness center, fully equipped business center and conference room with Internet access.
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