Costco Wholesale Acquires Norwalk Hotel For $13.5M With Representation By Paramount Lodging Advisors

The hotel located at 789 Connecticut Avenue in Norwalk, CT has been sold for a price of $13,500,000. The property spans a total area of 138,956 square feet, resulting in a price per square foot of $97. The transaction included 256 keys, with a price per key of $52,734.

Summary of transaction details

• Property Type: Hotel
• Transaction Amount: $13,500,000
• Address: 789 Connecticut Avenue, Norwalk, CT
• Market: Norwalk, CT
• Buyer: Ron Vachris - Costco Wholesale
• Seller: Shawn Crosser - Mount Street
• Brokers: Sean Banilivy, Bennett Webster, Brent Clemens - Paramount Lodging Advisors
• Square Footage: 138,956
• Price per Square Foot: $97
• Keys: 256
• Price per Key: $52,734

The sale of the hotel was facilitated by the brokers Sean Banilivy, Bennett Webster, and Brent Clemens from Paramount Lodging Advisors. They successfully represented the buyer Ron Vachris from Costco Wholesale and the seller Shawn Crosser from Mount Street.