The four-tenant, approximately 5,659-square-foot, street-level retail space at 1603-1609 India St., San Diego 92101, has been sold for $5.5 million.
The space is the street level of the 88-unit, six-level Porto Siena condominium in Little Italy at 1601 India St. at the corner of Cedar Street.
The buyer was Little Italy Adventure LLC, a California limited liability company, 475 Redwood St., Apt. 203, San Diego 92103. Antonino Mastellone is the manager of the new ownership.
The acquisition was financed with a loan of $3 million from North Island Financial Credit Union.
The sellers of the property (assessor's parcel 533-351-09-89) were LTZ Properties LLC (32.5 percent), Linda Susan Zweig (31.25 percent), Tamara Sweig Koen (31.25 percent) and Anabella B. Koen (5 percent). Jerome Zweig is the manager of LTZ.
The occupants of the retail space are three restaurants; Buon Appetito, Signa De Vino and most recently, Jazza Doro, and a small market; The Market by Buon Apettito.
Porto Siena has one-, two- and three-bedroom condos, and lofts for sale and rent. The building was completed in 2002; the developer was Intracorp.
The retail space was sold in July 2002 for $1,275,000, with financing of $550,000 from Community National Bank.