Updated Sep 8, 2026
FINANCEDDevelopment Site
Saber-Hightower Granoff Real Estate And Wind River Holdings Acquire Two Norwalk Office Buildings For $75.5M
101 Merritt 7
$75,500,000
$147/SF
Building Size
511,318 SF
Asset Type
Development Site
Closing
Aug 24, 2026
About this deal
AI
The transaction involves a development site located at 101 Merritt 7 & 201 Merritt 7 in Norwalk, CT. The asset spans a total of 511,318 square feet and is subject to a construction loan amounting to $75,500,000 provided by Bank OZK.
Summary of transation details:
- Property Type: Development Site
- Transaction Amount: $75,500,000
- Asset Address: 101 Merritt 7 & 201 Merritt 7
- Market: Norwalk, CT
- Lender: Bank OZK
- Landlord: Martin Berger, Gregory Belew, & Doug Browne - Saber-Hightower, Rich Granoff - Granoff Real Estate & Mark Lansman - Wind River Holdings
- Brokers: Jeffrey Dunne, Eric Apfel, Travis Langer & Eric Greenberg - CBRE
A joint venture consisting of Saber-Hightower, Granoff Real Estate, and Wind River Holdings has undertaken the acquisition of the two office buildings for the purpose of converting them into M7 Lofts, a 286-unit luxury apartment community.
Players
Norwalk Development Site Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.21%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93