The redeveloped RiverVue apartments sold for $63 million on Aug. 6, according to a deed recorded with the Duval County Clerk of Courts the same day.
Jacksonville-based Chance Partners, which bought the former Commander and St. Johns Village property in 2016 to redevelop it, sold the apartments to New York-based Abacus Capital Group.
The apartments at 3946 St. Johns Ave. in Avondale, originally constructed in 1961, completed renovations and redevelopment in late 2019. Chance Partners renovated units and added two four-story buildings with 132 units and two two-story buildings with two units each plus garages.
The 228-unit community averaged a sales price $276,315 per unit.
Walker & Dunlop’s team of Brian Moulder, Bobby Gatling and Dhaval Patel brokered the sale.
It last sold for $2,925,000 in 2016. Renovation costs were estimated at $40 million.
Chance Partners founder Judd Bobilin said at a July 2017 ceremony he envisioned the value of saving the 16-story waterfront Commander Tower, built in 1961, and providing infill residential in place of the demolished St. Johns Village commercial center.
Monthly rents range from $1,260 for a one-bedroom to $2,970 for a two-bedroom carriage house.
Units include quartz countertops, stainless steel appliances, walk-in closets, wood-finish flooring, glass showers, smart thermostats, keyless entry and private balconies.
The community includes a fire pit, resort-style pool, 24-hour fitness center, social lounge, business center, pet park, outdoor kitchen, bike- share program and fishing areas.