SkyHouse Raleigh, the 23-story apartment tower that helped redraw downtown’s skyline, is officially up for grabs, and the asking number is well below what it reportedly commanded about a decade ago. The listing has local investors and downtown insiders watching closely to see whether a discounted, high-profile multifamily property can reel in a buyer this spring.
Built in 2015, the high-rise includes roughly 320 apartments across 23 floors at 308 S. Blount St. According to Novare Group, the project was delivered under the developer’s SkyHouse brand and opened into strong downtown demand. Property listings and community write-ups highlight a rooftop pool, resident lounges and a 24-hour attended lobby, amenities that helped cement its status as one of downtown’s more prominent rental towers.
The sale was first reported Thursday by Triangle Business Journal, which reports that the owner has brought on a broker and is shopping the building at a markedly lower valuation than when it last traded roughly ten years ago. The Business Journal also notes marketing images credited to NorthMarq, the firm preparing the offering materials.
Where It Sits
The tower stands at 308 S. Blount St., a short walk from Moore Square and within easy reach of the Raleigh Convention Center and nearby performing arts venues. A retail listing from CBRE highlights available ground-floor space and leans on the building’s central, pedestrian-friendly setting.
Why Buyers May Be Picky
Discounted pricing on such a visible property reflects what some investors are seeing more broadly in multifamily deals, where tighter financing conditions and fewer large institutional trades have weighed on values. As Triangle Business Journal points out, sellers in recent months have been testing the waters with lower asking prices to spark interest from buyers who are choosy about size, location and rent stability…