World Wide Group has brought SkyHouse Raleigh, a high-rise apartment tower across from Moore Square, to the market. The 23-story residential building is being offered as an opportunity to acquire a downtown tower at a stated 60% discount to its estimated replacement cost, positioning it as a potential value play for multifamily investors focused on urban core assets.
According to reporting cited in the listing announcement, World Wide Group acquired SkyHouse Raleigh in 2016 for $103 million. The property, located at 308 S. Blount St. on a 0.68-acre site, has since become a prominent fixture in Downtown Raleigh’s residential skyline, combining high-rise living with proximity to Moore Square and surrounding city amenities.
Northmarq Carolinas is handling the listing on behalf of the seller. The brokerage team comprises James Dorsett, Jeff Glenn, Andrea Howard, John Currin and Austin Jackson, who are representing World Wide Group in the marketing effort. The property is being positioned to investors as an existing, stabilized tower with an occupancy rate reported at 94%.
SkyHouse Raleigh contains 320 residential units, including studios as well as one-, two- and three-bedroom floor plans. Unit sizes range from 546 square feet on the smaller end to 1,508 square feet for the largest layouts. Published rental rates in the marketing materials start at $1,257 per month and reach up to $2,354 per month, providing a range that targets a broad renter profile within the downtown multifamily segment.
The tower’s amenity package is concentrated on the 23rd floor and is a core component of the asset’s positioning. Amenities include a club room with a billiards table, fireplace and televisions, a fitness center, a heated swimming pool and an outdoor terrace. Additional features such as a fire pit, grilling stations and a pet spa round out the offerings, aligning the property with contemporary expectations for Class A high-rise apartment buildings.
SkyHouse Raleigh originally opened in 2015, making it a relatively recent addition to Downtown Raleigh’s multifamily inventory. With its high occupancy level, range of unit types and amenity-rich top floor, the tower is being marketed as a turnkey acquisition candidate for investors seeking exposure to downtown residential properties in the Raleigh urban core.
