Updated Oct 29, 2024
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
About this deal
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