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32 Weed Ave Norwalk, CT 068...

Madison Lakota Oaks RE Acquires Norwalk, CT Hotel For $24.75M
SOLDHotel

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