Venice apartment complex sells for $1 million less than in 2003 | Real Estate | HeraldTribune.com.

Venice apartment complex sells for $1 million less than in 2003

By Michael Braga (email)

Sandpiper Apartments LLC, a Venice company managed by Miles Brannan, has sold a 52-unit apartment building at 125 E Airport Ave in Venice to Citadel Apartments of Venice LLC for $1.35 million.

Corporate records do not show the names of the Citadel’s managers. They only list the name of the company’s registered agent – Williams Parker attorney Jim Turner.

Sandpiper Apartments bought the complex in May 2003 for $2.33 million and defaulted on a $3.2 million loan from Astoria Federal Mortgage Corp in October.