Updated Dec 4, 2024
Horvath & Tremblay Orchestrates $1.485M Sale Of 14-unit Multifamily In New Britain, CT
100 Broad Street & 109 Grove Street
$1,485,000
Units
14
Asset Type
MultiFamily
Closing
Dec 15, 2023
About this deal
AI
A multifamily property located at 100 Broad Street & 109 Grove Street in New Britain, CT has been sold in a closed transaction. The property consists of 14 units and was sold for a price of $1,485,000, which amounts to approximately $106,071 per unit.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,485,000
- Units: 14
- Price per Unit: $106,071
- Broker: Timothy Hines - Horvath & Tremblay
Timothy Hines of Horvath & Tremblay played a crucial role in orchestrating the sale of the 14-unit multifamily property. He represented the seller in this transaction, which concluded at a sale price of $1.485 million.
New Britain MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
10.68%
Cash-on-Cash
-3.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93