Apartment portfolio hits market at Santa Monica’s 201 Ocean

Los Angeles /
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

arrow_forward_ios
The Colorado Center with Hulu President Kelly Campbell and Boston Properties CEO Owen Thomas (inset) (Photos via Getty, LA Realty Partners)
Hulu adds space at Roku-occupied Colorado Center
Hulu adds space at Roku-occupied Colorado Center
Pen Factory, GoodRx CEOs Doug Hirsch and Trevor Bezdek. (Pen Factory, GoodRx)
GoodRx adds 57K sf at Santa Monica’s Pen Factory
GoodRx adds 57K sf at Santa Monica’s Pen Factory
Snap Inc CEO Evan Spiegel, Boston Properties CEO Owen Thomas and Santa Monica Business Park. (Getty, Boston Properties)
Snapchat’s parent company expands headquarters at Santa Monica Business Park
Snapchat’s parent company expands headquarters at Santa Monica Business Park
Stockdale Capital Partners' Co-Founders Shawn and Steven Yari with 1740 Ocean Avenue (Google Maps)
JW Marriott Santa Monica sells for $75M
JW Marriott Santa Monica sells for $75M
Black Equities Group's Stanley Black and Equity Residential's Mark J. Parrell. (Apartments.com, Getty, Equity Residential)
How Suite it is: Sam Zell’s Equity Residential sells SaMo rental complex
How Suite it is: Sam Zell’s Equity Residential sells SaMo rental complex
Roku CEO Anthony Wood, Boston Properties CEO Owen Thomas and Colorado Center. (Bostom Properties, WikiMedia / Collision Conf)
Roku inks long-term lease at Colorado Center
Roku inks long-term lease at Colorado Center
Tesla's new property is 82,000 square feet. (Getty, Daum Commercial)
Tesla inks big lease on office/warehouse in Santa Monica
Tesla inks big lease on office/warehouse in Santa Monica
Activision Blizzard CEO Bobby Kotick. (Getty, Activision)
Activision Blizzard vacates Santa Monica HQ, seeks new space
Activision Blizzard vacates Santa Monica HQ, seeks new space
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...