facebook
Traded Co logo
Submit
Daily limit: 0/10

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

Property Image
SOLD
$8,900,000
Richard (Rich) Edwards
Jeff Wright
Bradley (Brad) Balletto

Connecticut

See Similar Deals
MultiFamily
Sold 05/15/2024
the dealplayerscompscontact
Property Image
SOLD

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

163 Birdseye Street

See Similar Deals
MultiFamily
Sold 05/15/2024
Richard (Rich) Edwards
Jeff Wright
Bradley (Brad) Balletto
the dealplayerscompscontact
Contact now

Summary

CONNECTICUT
Asset Type:MultiFamily
Transaction Type:Sale

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
Jeff Wright
30 deals$138.9M volume
BROKER
Richard (Rich) Edwards
NorthEast Private Client Group
Richard Edwards
30 deals$150.9M volume
BROKER
Bradley (Brad) Balletto
NorthEast Private Client Group
Bradley Balletto
14 deals$150.9M volume(203) 307-1574
BROKER

Details

SOLD
IMAGE: 05/15/2024 ADDRESS: 163 Birdseye Street MARKET: Bridgeport, CT ASSET TYPE: Multifamily BUYER: SPA Management Group BROKERS: Bradley (Brad) Balletto, Jeff Wright & Richard (Rich) Edwards - NorthEast Private Client Group SALE PRICE: $8,900,000 UNITS: 81 ~ PPU: $109,877 NOTE: Northeast Private Client Group (NEPCG) facilitated the $8.9 million sale of Birdseye Apartments, an 81-unit complex in Bridgeport, Connecticut, to SPA Management Group.

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$474,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$31,619.81
Cash-on-Cash Return-1.27%
Monthly Debt Service$42,190.54
Annual Debt Service$506,286.49