Updated Oct 20, 2026
SOLDMultiFamily
Ben Spiegel Of Redwood Capital Acquires Multifamily Property In Greenwich For $2.067M
113 South Water Street
$2,067,000
$295/SF
Building Size
7,000 SF
Asset Type
MultiFamily
Closing
May 18, 2025
About this deal
AI
113 South Water Street is a multifamily property located in Greenwich, CT, consisting of 6 units. The sale price was $2,067,000, and the property encompasses a total square footage of 7,000. The price per unit amounts to $344,500, while the price per square foot is $295.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $2,067,000
- Units: 6
- Square Footage: 7,000
- Price Per Unit: $344,500
- Price Per Square Foot: $295
- Buyer: Ben Spiegel - Redwood Capital
- Broker: Matt Cawley - National Multifamily
- Date of Transaction: 5/19/2025
- Address: 113 South Water Street, Greenwich, CT
Redwood Capital, represented by Ben Spiegel, has acquired the property as part of its strategy to build an off-market portfolio in the high-income Byram neighborhood. This acquisition adds to Redwood’s existing assets at 168 N Water Street and 15 Beech Street, emphasizing the company's focus on high-margin investments in exclusive submarkets.
On the Map
$2,067,000
$295/SF
MultiFamily
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Players
Greenwich 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
7.67%
Cash-on-Cash
-2.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93