Scottsdale-based Alliance Residential Company sold the 258-unit Broadstone Seventh Street community in north central Phoenix to Goldman Sachs & Co. for a reported $81.4 million. 

Completed in 2024, Broadstone offers a mix of studio and one- and two-bedroom apartments. All units have nine- and 10-foot ceilings, in-unit washers and dryers, quartz countertops and illuminated vanity mirrors. Some units offer desk nooks, mudroom entry and wardrobe closets. 

Community amenities include a resident clubhouse, two-story fitness center and resort-style pool and spa. 

“The successful sale of Broadstone Seventh Street marks the culmination of years of thoughtful planning, quality construction and careful asset management,” Alliance Residential Managing Director Ian Swiergol said. “We set out to deliver a best-in-class community in one of Phoenix’s most dynamic urban neighborhoods, and we’re proud of what the team built. This outcome speaks to the strength of Phoenix multifamily fundamentals and Alliance’s ability to identify and execute on high-quality opportunities throughout the market cycle.” 

CBRE Group’s Asher Gunter, Matt Pesch and Austin Groen represented Alliance Residential in the deal. 

“This transaction reflects the continued confidence institutional investors have in core Phoenix infill locations,” Gunter said. “Broadstone Seventh Street benefits from its highly desirable location along the 7th Street Corridor, and Alliance’s commitment to design and construction quality is evident throughout the asset.”