19-unit Apartment Complex in Windansea Sells for $17.6M

A beachfront apartment complex at 6767-6769 Neptune Place in La Jolla sold for $17.6 million.

The Daily Transcript reported Friday that the 23,522-square-foot apartment complex will be torn down and replaced with 24 luxury apartments or condos.

According to the report, the site is fully entitled for residential units ranging from 1,033 to 1,649 square feet for a total of 32,780 square feet of living space and already has Coastal Commission approval.

The buyer was 6767 Neptune Place LLC, according to local business newspaper, and the general manager of the new ownership is developer Michael E. Turk. 

The sellers of the property were Diane Cardone, Gary Cardone, Grant Cardone, Grant T. Cardone and Deborah Starrett.