ArtHouse, a 139-unit property in Seattle’s Belltown neighborhood, was acquired by Goodman Real Estate for $47.8 million.
By Nick Pasion – Reporter, Puget Sound Business Journal
Dec 28, 2025
ArtHouse, a 139-unit apartment building in Seattle’s Belltown neighborhood, sold for $47.8 million in a deal recorded by King County last week.
The buyer is an entity affiliated with Goodman Real Estate, a commercial real estate firm headquartered in Seattle. TPG Angelo Gordon, an alternative investment firm acquired by the private equity company TPG in 2023, was the seller.
The price for the 92,178-square-foot mid-rise at 2334 Elliott Ave. shakes out to $343,597 per unit and $518 per square foot of rentable space. Units include a mix of studios and one- and two-bedrooms.
The eight-story property traded for nearly 23% less than its previous $62 million sales price in 2021. Its assessed value is $52.9 million.
A spokesperson for TPG declined to comment. Goodman did not return a request for comment.
The JLL team of David Young, Corey Marx and Chris Ross represented TPG in the sale.
JLL said in a news release that ArtHouse is “ideally positioned to benefit” from Seattle’s $806 million downtown waterfront redevelopment, adding it’s also a 15-minute walk from the Westlake light rail station.
Kidder Mathews noted in its latest market report that while multifamily sales activity in Seattle accelerated in the third quarter, pricing softened a bit with the average price per unit down 5%.
ArtHouse is just the latest transaction in what’s been an active year for Goodman. In 2025 alone, the company has sold four area multifamily properties: Pacific Walk Townhomes in Lakewood for $21.5 million, the Tessera Apartments in Everett for $38.8 million, The Lodge in Tacoma for $84 million and Altitude 104 in Parkland for $40.7 million.
On the acquisition side, Goodman has focused on Seattle. Along with ArtHouse, it purchased 8th & Republican in South Lake Union for $94.7 million.