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145 Cowles Street

Richard Olivers Acquires Bridgeport Multifamily For $5.35M
SOLDMultiFamily

Richard Olivers Acquires Bridgeport Multifamily For $5.35M

145 Cowles Street

$5,350,000

$226/SF

Building Size

23,600 SF

Asset Type

MultiFamily

Closing

Sep 23, 2022

AI

The multifamily property located at 145 Cowles St & 85-87 Union Ave in Bridgeport, CT has been sold. The transaction was completed on September 23, 2022.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $5,350,000
  • Units: 47
  • Price per Unit: $72,297
  • Total Square Footage: 23,600
  • Price per Square Foot: $227
  • Market: Bridgeport, CT

The buyer of the property is Richard Olivers, while the seller is the DaSilva Family. The deal was facilitated by the brokerage team of Kevin Scrima, Michael Scrima, and Thomas Gorman, Jr. from Redwood Realty Advisors.

Players

Michael Scrima

Houlihan Lawrence Commercial

Broker

$214.1M

vol

60 deals

Broker
Thomas Gorman Jr.
Verified Badge

Thomas Gorman Jr.

Houlihan Lawrence Commercial

Broker

$240M

vol

62 deals

Broker

Richard Olivers

Buyer

$10.7M

vol

2 deals

Buyer

DaSilva Family

Seller

$10.7M

vol

2 deals

Seller

Bridgeport MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

2.97%

Cash-on-Cash

-0.85%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93