Updated Dec 21, 2024
The Nest At Greenfield Hill, Inc Purchases Former Chase Bank At 161 Hillside Road For $1.5M
161 Hillside Road
$1,500,000
$293/SF
Building Size
5,115 SF
Asset Type
Commercial
Closing
Dec 20, 2024
About this deal
AI
The property involved in this transaction is a former Chase Bank location, located at 161 Hillside Road in Fairfield, CT. The asset type is commercial, with a total area of 5,115 square feet. The sale was completed for a price of $1,500,000, which indicates a price per square foot of $293.
Summary of transaction details:
- Property Type: Commercial
- Transaction Amount: $1,500,000
- Address: 161 Hillside Road
- Market: Fairfield, CT
- Square Footage: 5,115
- Price Per Square Foot: $293
- Buyer: The Nest at Greenfield Hill, Inc
- Seller: 161 Hillside Road, LLC
- Broker representing Seller: Richard Gretsch Jr - Gretsch Commercial
- Broker representing Buyer: Stephen Press - Press|Cuozzo
Richard Gretsch Jr. of Gretsch Commercial and Stephen Press of Press|Cuozzo were the key individuals involved in the successful transaction, representing 161 Hillside Road, LLC, the seller, and The Nest at Greenfield Hill, Inc, the buyer, respectively. This collaboration facilitated the transfer of ownership for the property.
Fairfield Commercial Market Snapshot
Boundary boundary · Commercial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
10.58%
Cash-on-Cash
-3.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93