SkyHouse in Raleigh SOLD for $103 Million
$103 Million is what the investment firm, World Wide Group, out of New York paid for SkyHouse a downtown Raleigh apartment building. The building features 23 stories and 323 units. It was built in 2014 and at a record $319,000 per unit sales price Raleigh once again sets itself apart as one of the most desirable places to build and invest.
Built originally for $60M with a local developer, Gregg Sandreuter (Beacon Partners) involved in a joint venture with Novare Group (Atlanta, GA) and Batson-Cook Development Co, the project did not last long on the market in it’s search for an investor group to purchase it. The original partners have been perfecting this model and the SkyHouse concept so much that they intend to open SkyHouse in up to 8 other cities. The southeast could see 2 more – Charlotte, NC and Atlanta GA. This is however their first sale.
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