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113-115 Park Avenue

NorthEast Private Client Group Sells Willow Park Apartments Multifamily For $5.2M
SOLDMultiFamily

NorthEast Private Client Group Sells Willow Park Apartments Multifamily For $5.2M

113-115 Park Avenue

$5,200,000

Building Size

Asset Type

MultiFamily

Closing

May 13, 2024

AI

Willow Park Apartments is a 21-unit multifamily complex located at 113-115 Park Avenue in Danbury, CT. The property was sold for $5,200,000, equating to a price per unit of $247,619. Each unit within the complex consists of one bedroom and spans 575 square feet.

Summary of transaction details:

Jeff Wright and Rich Edwards of NorthEast Private Client Group played vital roles in the transaction, representing both the undisclosed seller and buyer. Northeast Private Client Group (NEPCG) facilitated the deal, ensuring a successful transaction for Willow Park Apartments in Danbury, Connecticut.

Players

Jeff Wright

NorthEast Private Client Group

Broker

$138.9M

vol

30 deals

Broker

Danbury 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

3.05%

Cash-on-Cash

-0.87%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93