Madison Lakota Oaks RE Acquires Norwalk, CT Hotel For $24.75M
32 Weed Ave Norwalk, CT 06850, USA
$24,750,000
$247/SF
Building Size
100,000 SF
Asset Type
Hotel
Closing
Aug 3, 2023
AI
The property at 32 Weed Avenue in Norwalk, CT has been sold. The transaction took place on 08/03/2023, with Madison Lakota Oaks RE as the buyer and Hafeez Choudhary as the seller. The property is a hotel with a total square footage of 100,000 and was sold for a price of $24,750,000, resulting in a price per square foot of $248.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $24,750,000
- Address: 32 Weed Avenue, Norwalk, CT
- Market: Norwalk, CT
- Buyer: Madison Lakota Oaks RE
- Seller: Hafeez Choudhary
- Attorney: Gary Rosen, Esq. - Rosen Law LLC
- Square Footage: 100,000
- Price per Square Foot: $248
Gary Rosen, Esq. from Rosen Law LLC represented the buyer and seller during the transaction.
Players
Market Hotel Market Snapshot
Boundary boundary · Hotel · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.64%
Cash-on-Cash
-0.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93