FPA Multifamily Acquires 192-Unit Multifamily Property In Danbury, CT For $41.2M
10 Clapboard Ridge, Sandy Hook, CT 06482, USA
$41,200,000
$690/SF
Building Size
59,677 SF
Asset Type
MultiFamily
Closing
Oct 12, 2021
AI
Located at 10 Clapboard Ridge Road in Danbury, CT, this multifamily property recently changed hands in a closed transaction. The property consists of 192 units and is situated in a desirable market.
Summary of transaction details
- Property Type: Multifamily
- Sale Price: $41,200,000
- Units: 192
- Price per Unit: $214,583
- Last Sale Price: $32,250,000 (2017)
The buyer of the property was FPA Multifamily, represented by Greg Fowler. The seller was Timberline Real Estate Ventures. The transaction was facilitated by Institutional Property Advisors, specifically Marcus & Millichap.
This successful sale highlights the involvement of key individuals and companies in the real estate industry. FPA Multifamily, the buyer, saw great potential in this multifamily property in Danbury, CT. Timberline Real Estate Ventures, the seller, recognized the opportunity to sell the asset at a profitable price. Additionally, Institutional Property Advisors, represented by Marcus & Millichap, played a crucial role in facilitating the deal.
Sandy Hook MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.39%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93