The Cobblestone at Essen apartment complex has been sold to a New York investor group for $14.75 million.
According to documents filed with the East Baton Rouge Clerk of Court’s office Thursday, TVO Cobblestone LLC of El Paso Texas sold the complex to Cobblestone Pinnacle Owner LLC and Cobblestone at Essen Owner LLC, both of which have the same mailing address in Woodbury, New York. The sale was effective Jan. 18.
TVO bought the 191-unit complex at 5431 Essen Lane for $10.5 million in January 2017. Cobblestone was built in 1971 and has 191 units, with amenities including two swimming pools, a clubhouse and a fitness center. According to Apartments.com, units in Cobblestone rent for between $825 for a one-bedroom, one-bath to $1,145 for a three-bedroom, two-bath unit. The complex is in the middle of the Essen/Perkins/Bluebonnet medical corridor.