Updated Oct 29, 2024
David Adam Realty, Inc Sells Mixed-Use Property In New Canaan, CT For $2.45M
87 Main Street New Canaan, Connecticut 06840, USA
$2,450,000
$381/SF
Building Size
6,417 SF
Asset Type
Mixed-use
Closing
Jun 23, 2023
About this deal
AI
"The Bank Building," a 6,417 square-foot mixed-use former bank building located at 87 Main St., was sold for $2.45 million. The property, represented by Sean Grathwohl of David Adam Realty, Inc., offers a prime investment opportunity in New Canaan, CT. With a price per square foot of $382, this property provides a valuable asset for its new owner.
Summary of Transaction Details
- Property Type: Mixed-Use
- Transaction Amount: $2,450,000
- Square Footage: 6,417
- Address: 87 Main Street, New Canaan, CT
- Market: New Canaan, CT
- Seller: David Adam Realty, Inc - Sean Grathwohl
The successful sale of "The Bank Building" was made possible through the expertise and representation of Sean Grathwohl from David Adam Realty, Inc. This strategic transaction highlights the dedication and professionalism of those involved in the deal, ensuring a seamless transfer of ownership for the mixed-use property.
On the Map
$2,450,000
$381/SF
Mixed-use
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Players
New Canaan Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
6.47%
Cash-on-Cash
-1.85%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93