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
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
1.78%
Cash-on-Cash
-0.51%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93