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Jax Daily Record Tuesday, Jan. 11, 202210:00 AM EST

Vista Brooklyn apartments sell for Jacksonville record $410,064 a unit

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The 308-unit Riverside Avenue project opened in 2021.
by: Dan Macdonald Staff Writer

In a record Jacksonville apartment sale, CS 1031 Brooklyn Apartments DST bought Vista Brooklyn at 200 Riverside Ave. for $126.3 million.

On Dec. 30, 2021, the affiliate of Richmond, Virginia-based Capital Square bought the 308-unit property from Bristol Development Group and Hallmark Partners for a record $410,064 per unit, according to Jennifer Beerli, Hallmark Partners marketing director. 

The 10-story apartment community, on 2.1 acres, opened in 2021. 

It has studio, one-, two- and three-bedroom apartments ranging in size from 460 to 1,626 square feet. Monthly rents range from $1,690 for a studio to $2,850 for a two-bedroom unit.

Vista Brooklyn is adjacent to the Brooklyn Station on Riverside shopping center anchored by The Fresh Market.

There was no pricing information for a three-bedroom apartment because there are none available, according to the leasing office. 

There is 12,687 square feet of commercial space on the ground floor.

“Our goal for Vista Brooklyn was to set a new standard of apartment living in Jacksonville and we are proud of that accomplishment,” said Charles Carlisle of Bristol Development in a news release.

“Jacksonville is an important market for us, and we believe that Jacksonville is quickly becoming an 18-hour city – with robust population and economic growth, great amenities and a high quality of life.”

Amenities include a rooftop pool, beer garden, fitness studio with a yoga studio, gaming area, grilling stations, gift wrapping room, co-working spaces, and an elevated dog park and a pet spa. There are also personal medication pods.

In 2015, HP-BDG 200 Riverside LLC bought the site from 200 Riverside Avenue LLP for $2.1 million. It’s current taxable rate is $794,535.

The Franklin, Tennessee-based company acquired the 1.7-acre property in October 2015 for $2.1 million.

In 2018, the group applied for a $55 million permit to begin construction. At the time, Bristol estimated a total capital investment of more than $60 million.

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