Northeast Private Client Group Facilitates $10.1M Sale Of MultiFamily Properties In Norwalk And Bridgeport
21 Seir Hill Road
$10,100,000
Building Size
—
Asset Type
MultiFamily
Closing
Dec 20, 2024
AI
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
Norwalk 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
1.57%
Cash-on-Cash
-0.45%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93