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Northeast Private Client Group Facilitates $10.1M Sale Of MultiFamily Properties In Norwalk And Bridgeport

Property Image
SOLD
$10,100,000
Richard (Rich) Edwards
Jeff Wright
+ 3

Connecticut

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MultiFamily
Sold 12/20/2024
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Property Image
SOLD

Northeast Private Client Group Facilitates $10.1M Sale Of MultiFamily Properties In Norwalk And Bridgeport

21 Seir Hill Road

See Similar Deals
MultiFamily
Sold 12/20/2024
Richard (Rich) Edwards
Jeff Wright
+ 3
Contact now

Summary

CONNECTICUT
Asset Type:MultiFamily
Transaction Type:Sale

The sale involved a MultiFamily asset located at 21 Seir Hill Road and 55 Jackson Avenue in the Norwalk and Bridgeport, CT market. The total sale price for the properties was $10,100,000 for 56 units, which translates to a price per unit of $180,357. The properties include Skyview Gardens, a 12-unit luxury condominium built in 2005, and the Presidential Apartments, a 44-unit building constructed in 1970, featuring a variety of unit types.

Summary of transation details:

  • Property Type: MultiFamily
  • Transaction Amount: $10,100,000
  • Units: 56
  • Price Per Unit: $180,357
  • Address: 21 Seir Hill Road & 55 Jackson Avenue
  • Market: Norwalk & Bridgeport, CT

The transaction was facilitated by a team from NorthEast Private Client Group, consisting of Bradley (Brad) Balletto, Chris Bierezowiec, Derek Mahabir, Jeff Wright, Richard (Rich) Edwards, and Robert "Bob" Paterno. The group handled the sales of both properties, maximizing transaction efficiency and effectively representing both buyers and sellers in the deal process.

Players

Robert "Bob" Paterno
24 deals$125.1M volume
BROKER

Jeff Wright
NorthEast Private Client Group
30 deals$138.9M volume
BROKER

Richard (Rich) Edwards
NorthEast Private Client Group
30 deals$150.9M volume
BROKER

Bradley (Brad) Balletto
NorthEast Private Client Group
14 deals$150.9M volume(203) 307-1574
BROKER

Chris Bierezowiec
NorthEast Private Client Group
2 deals$13.7M volume(203) 307-1580
BROKER

Derek Mahabir
NorthEast Private Client Group
2 deals$15.3M volume(203) 751-1187
BROKER

Details

SOLD
IMAGE: 12/20/2024 ADDRESS: 21 Seir Hill Road & 55 Jackson Avenue MARKET: Norwalk & Bridgeport, CT ASSET TYPE: MultiFamily BROKERS: Bradley (Brad) Balletto, Chris Bierezowiec, Derek Mahabir, Jeff Wright, Richard (Rich) Edwards & Robert "Bob" Paterno - NorthEast Private Client Group SALE PRICE: $10,100,000 UNITS: 56 ~ PPU: $180,357 NOTE: Northeast Private Client Group facilitated the $4.8 million sale of Skyview Gardens, a 12-unit luxury condominium at 21 Seir Hill Rd., and the $5.3 million sale of the 44-unit Presidential Apartments at 55 Jackson Ave. Skyview Gardens, built in 2005, features high-end two-bedroom units, while Presidential Apartments, constructed in 1970, offers a mix of studio and one- and two-bedroom units in Bridgeport, CT.

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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