116-Unit Apartment Complex Sold For $14.1M In Bridgeport Represented By Matt Cawley

A 116-unit apartment complex located at 340 Palisade Avenue in Bridgeport, CT has been sold for $14,100,000. The sale represents a price per unit of $121,552. The property had been held by the same family for 54 years.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $14,100,000
• Units: 116
• Price Per Unit: $121,552
• Date of Sale: 01/24/2025
• Market: Bridgeport, CT
• Broker: Matt Cawley - National Multifamily

The transaction attracted significant interest, with 10 offers received within just 10 days, highlighting strong demand in Bridgeport and Fairfield County. Notably, the sale involved one of the lowest cap rates recorded in the city.