A 94-unit apartment building and parking lot in Scott's Addition has been sold for $18.15 million.
Scott’s Edge, one of the first apartment developments in that neighborhood, was acquired by Alexandria-based Bonaventure Realty Group in December.
The apartment building at 3408 Moore St. sold for $17.6 million to DE Scotts Edge LLC, an entity tied to Bonaventure, city property records show. The property was assessed for $9.975 million.
The nearby parking lot at 1604 Belleville St. sold for $550,000 to BRG Scotts Edge Oz LLC.
Moore Street Apartments LLC, which sold the properties, helped launch the initial renaissance of Scott’s Addition, according to commercial real estate brokerage CBRE, which represented the seller in the transaction. The CBRE team included Richmond broker Peyton Cox.
Scott’s Edge development took the former Seaboard Bag Corp. building and converted it in 2013 into a 94-unit apartment building with solar panels.
Scott's Edge is next to the Tang & Biscuit Shuffleboard Social Club. The apartment building also is around the corner from a planned winery and full-service restaurant at 1708 Belleville St.