Phoenix Apartments LLC Sells Multifamily Property In Groton, CT For $10.5M With Brokers Steve Pappas & Tom Boyle - Chozick Realty Inc
SOLD
$10,500,000
Connecticut
See Similar DealsMultiFamily307,969 SF
Sold 12/18/2020
SOLD
Phoenix Apartments LLC Sells Multifamily Property In Groton, CT For $10.5M With Brokers Steve Pappas & Tom Boyle - Chozick Realty Inc
355 Long Hill Road, Groton, CT, USA
See Similar DealsMultiFamily307,969 SF
Sold 12/18/2020
Summary
CONNECTICUT
Asset Type:MultiFamily
Price Per Square Foot:$34
Total Square Footage:307,969 SF
Transaction Type:Sale
The multifamily property at 355 Long Hill Road in Groton, CT has been sold for $10,500,000. The transaction took place on December 18, 2020. The property consists of 96 units, with a price per unit of $109,375.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $10,500,000
- Date of Transaction: 12/18/2020
- Address: 355 Long Hill Road, Groton, CT
The seller of the property was Phoenix Apartments LLC. The brokers representing the seller in the deal were Steve Pappas and Tom Boyle from Chozick Realty Inc.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$559,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$37,304.29
Cash-on-Cash Return-1.27%
Monthly Debt Service$49,775.36
Annual Debt Service$597,304.28
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