Par Taft LLC Acquires Residential Property In New Haven, CT For $52.5M
SOLD
$52,500,000
Connecticut
See Similar DealsCo-Op218,829 SF
Sold 04/22/2022
SOLD
Par Taft LLC Acquires Residential Property In New Haven, CT For $52.5M
265 College Street, New Haven, Connecticut 06510, United States
See Similar DealsCo-Op218,829 SF
Sold 04/22/2022
Summary
CONNECTICUT
Asset Type:Co-Op
Price Per Square Foot:$239
Total Square Footage:218,829 SF
Transaction Type:Sale
Par Taft LLC has acquired a residential property located at 265 College St in New Haven, CT. The transaction was facilitated by Victor Nolletti of Institutional Property Advisors, representing the buyer. The seller, Taft Realty Associates, closed the deal with a sale price of $52,500,000 on April 22, 2022.
Summary of transaction details
- Property Type: Residential
- Transaction Amount: $52,500,000
- Address: 265 College St
- Market: New Haven, CT
The buyer, Par Taft LLC, successfully acquired the property, with Victor Nolletti from Institutional Property Advisors representing their interests throughout the transaction. Taft Realty Associates acted as the seller in this deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,800,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$186,521.40
Cash-on-Cash Return-1.27%
Monthly Debt Service$248,876.78
Annual Debt Service$2,986,521.41
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