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Amsterdam Partners LLC Acquires Multifamily Property In Bridgeport, CT For $3.1M

Property Image
SOLD
$3,100,000
Robert "Bob" Paterno
Richard (Rich) Edwards
Jeff Wright

Connecticut

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MultiFamily16,500 SF
Sold 03/02/2022
the dealplayerscompscontact
Property Image
SOLD

Amsterdam Partners LLC Acquires Multifamily Property In Bridgeport, CT For $3.1M

48 Amsterdam Avenue, Bridgeport, Connecticut 06606, United States

See Similar Deals
MultiFamily16,500 SF
Sold 03/02/2022
Robert "Bob" Paterno
Richard (Rich) Edwards
Jeff Wright
the dealplayerscompscontact
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Summary

CONNECTICUT
Asset Type:MultiFamily
Price Per Square Foot:$187
Total Square Footage:16,500 SF
Transaction Type:Sale

Amsterdam Partners LLC has acquired a multifamily property located at 48 Amsterdam Ave in Bridgeport, CT. The property spans 16,500 square feet and was sold by Norell Apartments LLC for a total price of $3,100,000, resulting in a price per square foot of $188.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $3,100,000
  • Address: 48 Amsterdam Ave
  • Market: Bridgeport, CT

The deal was facilitated by the Northeast Private Client Group, with Brad Balletto, Rich Edwards, Jeff Wright, and Bob Paterno representing the parties involved.

Players

Robert "Bob" Paterno
NorthEast Private Client Group
Robert Paterno
24 deals$125.1M volume
BROKER
Jeff Wright
NorthEast Private Client Group
Jeff Wright
30 deals$138.9M volume
BROKER
Richard (Rich) Edwards
NorthEast Private Client Group
Richard Edwards
30 deals$150.9M volume
BROKER

Details

SOLD
IMAGE: Bob Paterno, Jeff Wright, Rich Edwards & Brad Balletto DATE: 03/02/2022 ADDRESS: 48 Amsterdam Ave MARKET: Bridgeport, CT ASSET TYPE: Multifamily BUYER: Amsterdam Partners LLC SELLER: Norell Apartments LLC BROKERS: Brad Balletto, Rich Edwards, Jeff Wright & Bob Paterno - Northeast Private Client Group SALE PRICE: $3,100,000 SF: 16,500 ~ PPSF: $188

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

$165,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$11,013.66
Cash-on-Cash Return-1.27%
Monthly Debt Service$14,695.58
Annual Debt Service$176,346.98