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Northeast Private Client Group Sells Multifamily Property In Danbury, CT For $3.55M

Property Image
SOLD
$3,550,000
Robert "Bob" Paterno
Richard (Rich) Edwards
+ 1

Connecticut

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MultiFamily
Sold 04/21/2021
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Property Image
SOLD

Northeast Private Client Group Sells Multifamily Property In Danbury, CT For $3.55M

113-115 Park Avenue, Danbury, CT, USA

See Similar Deals
MultiFamily
Sold 04/21/2021
Robert "Bob" Paterno
Richard (Rich) Edwards
+ 1
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Summary

CONNECTICUT
Asset Type:MultiFamily
Transaction Type:Sale

A multifamily property located at 113-115 Park Ave in Danbury, CT has been sold for a price of $3,550,000. The transaction took place on 04/21/2021 and was facilitated by Bradley Balletto, Jeff Wright, Rich Edwards, Robert Paterno, and John Lockhart from Northeast Private Client Group. The property consists of 21 units, with an average price per unit of $169,047.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $3,550,000
  • Address: 113-115 Park Ave, Danbury, CT
  • Market: Danbury, CT
  • Number of Units: 21
  • Price Per Unit: $169,047

Bradley Balletto, Jeff Wright, Rich Edwards, Robert Paterno, and John Lockhart from Northeast Private Client Group were the brokers involved in the deal. They represented the parties in the transaction, ensuring a successful closing.

Players

Robert "Bob" Paterno
24 deals$125.1M volume
BROKER

Jeff Wright
NorthEast Private Client Group
30 deals$138.9M volume
BROKER

Richard (Rich) Edwards
NorthEast Private Client Group
30 deals$150.9M volume
BROKER

John Lockhart
NorthEast Private Client Group
10 deals$40.2M volume
BROKER

Details

SOLD
IMAGE: John Lockhart, Robert Paterno, Jeff Wright, Rich Edwards & Bradley Balletto DATE: 04/21/2021 ADDRESS: 113-115 Park Ave MARKET: Danbury, CT ASSET TYPE: Multifamily BROKERS: Bradley Balletto, Jeff Wright, Rich Edwards, Robert Paterno, & John Lockhart - Northeast Private Client Group SALE PRICE: $3,550,000 UNITS: 21 ~ PPU: $169,047

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$12,612.41
Cash-on-Cash Return-1.27%
Monthly Debt Service$16,828.81
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