Updated Dec 4, 2024
Bridgeport Commons Apartments Sold For $9.9M With Representation By NorthEast Private Client Group
1525 Central Avenue
$9,900,000
Units
86
Asset Type
MultiFamily
Closing
Nov 1, 2024
About this deal
AI
A multifamily property, Bridgeport Commons Apartments, was sold for $9.9 million. The asset comprises 86 units located at 1525 Central Avenue in Bridgeport, CT. The property features a mix of studios, one-bedroom, and two-bedroom units, and is situated near Bridgeport Hospital.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $9,900,000
- Units: 86
- Price Per Unit: $115,116
- Sale Date: 11/01/2024
- Market: Bridgeport, CT
The sale was facilitated by brokers Bradley Balletto, Richard Edwards, and Robert Paterno from NorthEast Private Client Group. Both the buyer and seller in this transaction opted to remain anonymous.
On the Map
$9,900,000
MultiFamily
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Players
Bridgeport 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
1.60%
Cash-on-Cash
-0.46%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93