LuxLiving has completed the sale of The Steelyard, a blended 170-unit complex made up of 128 new construction and 42 adaptive reuse apartments in the Historic Soulard neighborhood of St. Louis. The sale price of $45.9 million (or $270,000 per unit) represents another record-setting price for the developer who in late 2019 sold the 160-unit “Tribeca” in the Central West End neighborhood.
Built in 2019 by Big Sur Construction, the sale represents the first significant transaction funded with West Coast capital in the Soulard community.
The four-story asset is located one block north of Anheuser-Busch headquarters, and 1.5 miles south of Busch Stadium, the Gateway Arch and the rest of Downtown St. Louis. The design of the Steelyard’s units rival that of a custom home, with smart tech woven throughout (smart locks, Nest thermostats, wall mounted smart hubs powered by Alexa).
Common area amenities include an innovative 6-tap self-pour beer & wine system, a tenant curated resident marketplace, 24-hour fitness center with Peloton and smart Mirror, a pet park & pet spa, and an enclosed garage. However, the top area is the outdoor amenity deck, which boasts a resort-style swimming pool and hot tub, fire pits, BBQ grills, kitchen and bar, hammocks, private climate-controlled cabanas with TVs, and more.
Will Mathews, Tyler Hague, Bob Galamba and Gregory Russell of Colliers International were the brokers representing the buyers in the transaction.
