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21 Seir Hill Road

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

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

Robert Paterno

NorthEast Private Client Group

Broker

$125.1M

vol

24 deals

Broker

Norwalk 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

1.57%

Cash-on-Cash

-0.45%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93