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163 Birdseye Street

SPA Management Group Acquires Birdseye Apartments In Bridgeport For $8.9M
SOLDMultiFamily

SPA Management Group Acquires Birdseye Apartments In Bridgeport For $8.9M

163 Birdseye Street

$8,900,000

Building Size

Asset Type

MultiFamily

Closing

May 15, 2024

AI

The Birdseye Apartments, an 81-unit multifamily complex located at 163 Birdseye Street in Bridgeport, Connecticut, was sold for $8.9 million to SPA Management Group. The property boasts a price per unit of $109,877.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $8,900,000
  • Units: 81
  • Price Per Unit: $109,877
  • Address: 163 Birdseye Street
  • Market: Bridgeport, CT

The sale of the Birdseye Apartments was facilitated by NorthEast Private Client Group, with the transaction being represented by their brokers Bradley (Brad) Balletto, Jeff Wright, and Richard (Rich) Edwards. SPA Management Group emerged as the buyer in this deal.

Players

Jeff Wright

NorthEast Private Client Group

Broker

$138.9M

vol

30 deals

Broker

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

1.78%

Cash-on-Cash

-0.51%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93