Apartment portfolio hits market at Santa Monica’s 201 Ocean

Nest Seekers International is representing shareholders

Mar.March 01, 2016 10:00 AM

A portfolio of 40 apartments owned by a group of co-op shareholders is slated to come on the market at 201 Ocean, the tallest residential complex in Santa Monica.

The properties, the first 12 of which are now on the market priced between $1.08 million and $4.7 million, will be marketed exclusively by the Serhant team at Nest Seekers International. They include one-, two—and three-bedroom apartments.

Ryan Serhant, star of “Million Dollar Listing New York,” attended a launch event last Saturday at the building, along with Sebastian Wolski, managing partner of the Serhant Team in Los Angeles.

Serhant said one of the homes is already in contract for $2,500 a square foot. The sales price, $4.35 million, is the highest ever recorded at the complex on a price per square foot basis, he said.

Meanwhile, the median price of a Santa Monica condo was just $1.695 million in the third quarter, according to a recent report by Douglas Elliman.

The Ocean Avenue towers were first build as rentals in 1971 but were converted to co-ops in 1976, records show. The 40 available units were recently renovated, Serhant said.

Correction: A previous version of this story said the $2,500 a foot condo sale at 201 Ocean set a record for the neighborhood. In fact, there has been a pricier sale. 

Related Articles

Adam Shekhter and the 1415 5th Street project

WS Communities boosts affordable housing plans in Santa Monica

The 5 priciest residential sales

Here are the 5 priciest resi sales in LA County last week

Clockwise from top left: 1155 Angelo Drive, 1116 Laurel Way, 613 N. Sierra Drive, 32453 Pacific Coast Highway and 705 N. Arden Drive (Credit: Redfin)

Beverly Hills dominates list of top resi sales in LA County last week

Lightstone’s Eugene Rozovsky, Neil Shekhter and a rendering of 1650 Lincoln Boulevard

Lightstone provides $44M loan to Shekhter-owned WS Communities

Pierce Brosnan and his new home in Santa Monica

“The world is not enough,” but for one former James Bond this Santa Monica pad is

Witkoff Group’s Steve Witkoff and a rendering of the project at 500 Broadway

Witkoff Group snags construction loan for Santa Monica luxury development

Universal Music Group CEO Lucian Grainge and a rendering of Colorado Campus Building B

Universal Music Group is expanding footprint at Colorado Campus office complex: sources

Starwood Capital Group CEO Barry Sternlicht and Lantana campus (Credit: Getty Images and Ehrlich Yanai Rhee Chaney Architects)

Starwood Capital set to buy part of Lantana office campus for $220M: sources