Seattle · Commercial sale
MFREVF V Island Square buys 2758 78th Ave SE in Mercer Island for $157 million
An apartment complex at 2758 78th Ave SE, Mercer Island sold for $157,000,000 on July 23, 2026. See the seller and buyer net sheets for this sale.
- Sale price
- $157,000,000
- Sold
- July 23, 2026
- Property type
- Apartment complex
- Lot size
- 98,035 sq ft
An apartment complex at 2758 78th Ave SE in Mercer Island sold for $157,000,000, a price 34% above the $117,318,100 market value on record, according to the Assessor's records.
The sale closed July 23, 2026, per King County Department of Assessments' sales records. The deed conveys 2 parcels, and 2758 78th Ave SE is the largest one identified.
United Dominion Realty LP is listed in the record as the seller. MFREVF V Island Square LLC is listed as the buyer.
An aerial photo of the property shows 4 buildings on the site, which sits at a street corner. The Assessor's records show a 2.25-acre lot.
What this sale costs to close
What does closing cost at this price? Under King County custom the seller's larger charges are $4,679,075 for the state real estate excise tax (graduated) and $785,000 for the local real estate excise tax (0.50%). The seller's estimated net is $150,445,803 before brokerage commissions and any loan payoff. A cash buyer would need about $156,211,273 at closing.
Source: King County Department of Assessments, real property sales, document 3388615. Property details: King County Assessor. Net sheets are estimates from the NetSheet.org rules engine, not the parties' actual closing statements. Request a correction or removal.
