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Kempner Properties Acquires Multifamily Property In Stamford, CT For $3.45M

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SOLD
$3,450,000

Connecticut

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MultiFamily18,908 SF
Sold 05/11/2022
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Property Image
SOLD

Kempner Properties Acquires Multifamily Property In Stamford, CT For $3.45M

470 Glenbrook Road, Stamford, Connecticut 06906, United States

See Similar Deals
MultiFamily18,908 SF
Sold 05/11/2022

Summary

CONNECTICUT
Asset Type:MultiFamily
Price Per Square Foot:$182
Total Square Footage:18,908 SF
Transaction Type:Sale

Kempner Properties, led by Rob Kempner and Doug Kempner, has acquired a multifamily property located at 470 Glenbrook Rd in Stamford, CT. The property was sold by Charles Garufi, with the transaction facilitated by Kravet Realty.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $3,450,000
  • Date: 05/11/2022
  • Address: 470 Glenbrook Rd
  • Market: Stamford, CT
  • Buyer: Kempner Properties - Rob Kempner & Doug Kempner
  • Seller: Charles Garufi
  • Broker: Kravet Realty
  • Units: 19
  • Price per Unit (PPU): $181,578
  • Square Footage (SF): 18,908
  • Price per Square Foot (PPSF): $182

This transaction showcases the successful acquisition of a multifamily property by the Kempner Properties team. Rob Kempner and Doug Kempner led the purchasing efforts, securing the property for $3,450,000. The property is located at 470 Glenbrook Rd in Stamford, CT, with a total of 19 units. Each unit has an average price of $181,578 and the entire property spans across 18,908 square feet. The deal was facilitated by Kravet Realty, representing both the buyer and the seller, Charles Garufi.

Players

BUYER

Details

SOLD
IMAGE: Rob Kempner & Doug Kempner DATE: 05/11/2022 ADDRESS: 470 Glenbrook Rd. MARKET: Stamford, CT ASSET TYPE: Multifamily BUYER: Kempner Properties (@KempnerProperties) - Rob Kempner (@ExtraChipotle) & Doug Kempner (@DFresh411) SELLER: Charles Garufi BROKER: Kravet Realty SALE PRICE: $3,450,000 UNITS: 19 ~ PPU: $181,578 SF: 18,908 ~ PPSF: $182

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$184,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$12,257.11
Cash-on-Cash Return-1.27%
Monthly Debt Service$16,354.76
Annual Debt Service$196,257.12