Neo Capital Acquires MultiFamily In Stamford From Building & Land Technology For $73M
28 Southfield Ave, Stamford, CT, 06902
$73,000,000
Building Size
—
Asset Type
MultiFamily
Closing
Nov 22, 2023
AI
Located at 28 Southfield Ave, Stamford, CT, 06902, Harbor Landing is a 218-unit multifamily asset in Stamford with amenities such as a pool, fitness center, and outdoor grilling areas. Built in 2018, this property was recently acquired for $73 million.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $73,000,000.00
- Buyer: Neo Capital
- Seller: Building & Land Technology
- Seller's Rep: Michael Oliver (JLL)
The acquisition of Harbor Landing was facilitated by a partnership between New York City-based Monday Properties and Neo Capital, an investment advisory firm from London. Representing the seller in this transaction were Jose Cruz, Steve Simonelli, Michael Oliver, Kevin O'Hearn, and Ryan Robertson of JLL. Additionally, Michael Gigliotti and Peter Rotchford of JLL helped arrange acquisition financing for the new ownership of this multi-unit residential property.
Players
Stamford 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
0.22%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93