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Northeastern Conference Corporation Acquires Industrial Property In Hamden For $2.7M

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SOLD
$2,700,000

Connecticut

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Industrial46,500 SF
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SOLD

Northeastern Conference Corporation Acquires Industrial Property In Hamden For $2.7M

335 Putnam Ave, New Haven, CT, 06517

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Industrial46,500 SF
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Summary

CONNECTICUT
Asset Type:Industrial
Price Per Square Foot:$58
Total Square Footage:46500 SF
Transaction Type:Sale

Located in Hamden, CT, the property at 335 Putnam Ave is an industrial building spanning 46,500 square feet situated on 3.45 acres. This building, once converted into a call center in 1999, has a rich history of operations, most recently by Frontier Communications. The transaction for this asset closed at $2.7 million, with the seller, 335 Putnam Ave., LLC, being represented by Stephen Press of Press|Cuozzo Commercial Services. The buyer, Northeastern Conference Corporation of Seventh Day Adventists of New York, enlisted the services of Mike Johnson from TAJ Real Estate, LLC.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $2,700,000.00
  • Address: 335 Putnam Ave, New Haven, CT, 06517
  • Market: Hamden
  • Square Footage: 46,500
  • Seller: 335 Putnam Ave., LLC
  • Seller's Rep: Stephen Press(Press|Cuozzo)
  • Buyer: Northeastern Conference Corporation of Seventh Day Adventists of New York
  • Buyer's Rep: Mike Johnson(Sotheby's International Realty)

Additionally, Stephen Press, SIOR, played a vital role in the completion of this sale, representing the seller, 335 Putnam Ave., LLC. On the other side of the deal, Mike Johnson of TAJ Real Estate, LLC, acted as the buyer's representative, facilitating the transaction for the Northeastern Conference Corporation of Seventh Day Adventists of New York. This successful deal underscores the importance of expert real estate agents in navigating complex industrial property transactions.

Players

Stephen Press
8 deals$14.7M volume
BROKER

Mike Johnson
Sotheby's International Realty
4 deals$127.2M volume
BROKER

BUYER

Details

SOLD
IMAGE: 335 Putnam Ave, New Haven, CT, 06517 MARKET: Hamden ASSET TYPE: Industrial BUYER'S REP: Mike Johnson(Sotheby's International Realty) SELLER'S REP: Stephen Press(Press|Cuozzo) BUYER: Northeastern Conference Corporation of Seventh Day Adventists of New York SELLER: 335 Putnam Ave., LLC PRICE: $2,700,000.00 SF: 46500

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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Cash-on-Cash Return-1.27%
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