Updated Jan 24, 2025
116-Unit Apartment Complex Sold For $14.1M In Bridgeport Represented By Matt Cawley
340 Palisade Avenue
$14,100,000
Units
116
Asset Type
MultiFamily
Closing
Jan 24, 2025
About this deal
AI
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.
On the Map
$14,100,000
MultiFamily
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Bridgeport 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
1.13%
Cash-on-Cash
-0.32%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93