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28 Southfield Ave, Stamford...

Neo Capital Acquires MultiFamily In Stamford From Building & Land Technology For $73M
SOLDMultiFamily

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

Michael Oliver

JLL

Broker

$4.3B

vol

70 deals

Broker
NC
Neo CapitalBuyer
BT
Building and Land TechnologySeller

Stamford 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

0.22%

Cash-on-Cash

-0.06%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93