New York City investor buys Raymoore Apartment Homes

BUYER: Opus Apartments LLC (principal: Jonathan Shechtman), Naples
SELLER: Ray Moore Equities LLC
PROPERTY: 5570 16th Place S.W., Naples
PRICE: $3.54 million
PREVIOUS PRICE: $6.4 million, April 2006
LAW FIRM ON DEED: Mark Muller PA, Naples

PLANS, DESCRIPTION: An investment company led by Jonathan Shechtman of New York City purchased the 63-unit Raymoore Apartment Homes for $3.54 million.

The price equated to $56,159 per unit.

Located on a 5.2-acre parcel in the Golden Gate area of Naples, the garden-style apartment contains 16 buildings. Fifteen of the buildings are two-story concrete block with four 1,024-square-foot units. The additional building contains three units, including the only three-bedroom/two-bathroom apartment.

Built between 2000 and 2002, the 65,490-square-foot development is fully leased.

Shechtman, a former owner of Shechtman & Pikus LLC in Naples, is now portfolio manager at Axonic Capital LLC, a New York City-based trading and investment firm.