The Gordon River Apartments sold last week for $17.5 million to Naples 1400 LLC of Corridor Ventures, a real estate investment firm, according to a warranty deed and the former owner of the apartment complex.
The 95-unit apartment complex’s address is 1400 Fifth Ave. N. in the River Park neighborhood.
“We just sold Gordon River Apartments to Corridor Ventures for $17.5 million yesterday,” Jonathan Shechtman, co-founder of Axonic Properties LLC, wrote in an email Friday.
The Naples Community Redevelopment Agency had been exploring a city purchase of the apartment complex in an effort to maintain affordable housing in the historically Black neighborhood.
Hagan Brown, co-founder of Corridor Ventures, confirmed his company purchased the apartment complex.
“Yes, we did just purchase Gordon River,” he wrote in an email Friday.
In 2014, Lo Exclusivo LLC sold the Gordon River Apartments for $5.2 million, county records show.