FPA Multifamily Acquires Multifamily Property In Stamford, CT For $84.3M
$84,300,000
SOLD
$84,300,000
+ 3
Connecticut
See Similar DealsMultiFamily1,255 SF
Sold 04/19/2021
$84,300,000
SOLD
FPA Multifamily Acquires Multifamily Property In Stamford, CT For $84.3M
100 Morgan Street, Stamford, CT, USA
See Similar DealsMultiFamily1,255 SF
Sold 04/19/2021
+ 3
Summary
CONNECTICUT
Asset Type:MultiFamily
Price Per Square Foot:$67,171
Total Square Footage:1,255 SF
Transaction Type:Sale
The asset involved in this transaction is a multifamily property located at 100 Morgan St, Stamford, CT. The sale was completed for a total consideration of $84,300,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $84,300,000
- Buyer: FPA Multifamily
- Brokers involved: Jeffrey Dunne, Gene Pride, Jeremy Neuer, Steve Bardsley, David Gavin, & Travis Langer - CBRE
- Sale Date: 04/19/2021
The transaction featured prominent brokers from CBRE, including Jeffrey Dunne, Gene Pride, Jeremy Neuer, Steve Bardsley, David Gavin, and Travis Langer, who represented the seller in this significant deal.
Players
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$4,495,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$299,500.10
Cash-on-Cash Return-1.27%
Monthly Debt Service$399,625.01
Annual Debt Service$4,795,500.09
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