SOLDDevelopment Site
Norwalk Hospital Sells Development Site To RMS Companies For $12.2M
370 West Avenue
$12,200,000
Building Size
—
Asset Type
Development Site
Closing
Jan 12, 2024
AI
Norwalk Hospital has successfully sold a 2.34-acre development site at 370 West Avenue in Norwalk, Connecticut, previously housing a YMCA, to RMS Companies for $12.2 million.
Summary of transation details
- Property Type: Development Site
- Transaction Amount: $12,200,000
- Address: 370 West Avenue, Norwalk, CT
- Market: Norwalk, CT
- Buyer: Randy Salvatore - RMS Companies
- Seller: Peter Cordeau - Norwalk Hospital
- Brokers: Al Mirin, Gerry Lees, Jim Fagan, Kate Schwartz, Matt Torrance & Maureen O’Boyle - Cushman & Wakefield
The 2.34-acre development site at 370 West Avenue in Norwalk, Connecticut, previously housing a YMCA, has been sold by Norwalk Hospital to RMS Companies for $12.2 million.
Players
Norwalk Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.30%
Cash-on-Cash
-0.37%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93