The former Champagne Towers -- a half-century-old rent control apartment complex -- has sold for $330 million, making it the most expensive apartment sale in Santa Monica history.

According to the Los Angeles Business Journal, Santa Monica-based Douglass Emmett purchased the 120-unit complex at 1221 Ocean Avenue from Newport Beach-based Irvine Co., for an average of $2.75 million a unit.

Read More: https://www.surfsantamonica.com/ssm_site/the_lookout/news/News-2022/May-2022/05_23_2022_Santa_Monica_Rent_Controlled_Building_Sells_for_330_Million.html