Fraioli Family Acquires Multifamily Complex From Rabadi Family In Norwalk For $41.4M

The multifamily asset involved in this transaction is located at 34 Oakwood Avenue and 101 Washington St. in Norwalk, CT. The sale price for this property was $41,400,000, which encompasses a total of 120 units. The total square footage of the property is 122,000, resulting in a price per square foot of $339 and a price per unit of $345,000.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $41,400,000
• Units: 120
• Square Footage: 122,000
• Price Per Unit: $345,000
• Price Per Square Foot: $339
• Buyer: Fraioli Family
• Seller: Rabadi Family
• Broker: Alex Frants - Highcap Group

Alex Frants, Senior Director and National Investment Sales Advisor at Highcap Group, represented both the Fraioli Family and Rabadi Family in this transaction, which also included the sale of the Point Rock and Sono Pearl apartment complexes, offering future development potential for an additional 122 units.