Trammell Crow Co. partnership has put a new 38 story luxury high rise apartment building up for sale. It is expected to get bids for more than $325 million.
The 38-story Northshore, at 110 San Antonio Street in the Central Business District, encompasses 439 apartments, 52,000 square feet of office/retail space and two garages.
It’s only been a couple years since Northshore opened with 439 apartments and 52,00 square feet of office and retail space. Since then the luxury multifamily project, along with the new Google tower at 500 West Second St., have helped to transform the Second Street district by attracting new restaurants and shops.
Apartments average 1,116 square feet, and 50 affordable-housing units, which average 551 sf. Rents at the market-rate units range from $2,104 for one bedroom to $9,739 for three bedrooms.
Overall, the average rent is $3,522, well above the $2,248 average for downtown apartments at yearend, according to Marcus & Millichap. The submarket’s average rent soared 12% last year.
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