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28 Southfield Avenue, Stamf...

Monday Properties & Neo Capital Acquire Multifamily Property In Stamford, CT For $73M
SOLDMultiFamily

Monday Properties & Neo Capital Acquire Multifamily Property In Stamford, CT For $73M

28 Southfield Avenue, Stamford, CT, USA

$73,000,000

$58,728/SF

Building Size

1,243 SF

Asset Type

MultiFamily

Closing

Apr 7, 2021

AI

The multifamily property located at 28 Southfield Avenue in Stamford, CT has been sold for a price of $73,000,000. The property consists of 218 units, resulting in a per unit price of $334,862. The sellers of the property were Building and Land Technology and Lubert Adler Real Estate Funds, while the buyers were Monday Properties and Neo Capital.

Summary of transation details

  • Property Type: Multifamily
  • Transaction Amount: $73,000,000
  • Address: 28 Southfield Avenue, Stamford, CT
  • Units: 218
  • Price per Unit: $334,862

The sale of this property was facilitated by the brokers from JLL Capital Markets, including Jose Cruz, Steve Simonelli, Michael Oliver, Kevin O'Hearn, and Ryan Robertson. They represented both the sellers and the buyers in this transaction.

Players

Jose Cruz

JLL

Broker

$7.8B

vol

102 deals

Broker
Monday Properties
Monday PropertiesBuyer
Lubert-Adler Real Estate Funds
Lubert-Adler Real Estate FundsSeller
Lubert-Adler Real Estate Funds
Lubert-Adler Real Estate FundsLender

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