Alexa Group & Shelbourne International Acquire Multifamily Property In Hartford, CT For $22M
SOLD
$22,000,000
Connecticut
See Similar DealsMultiFamily254,458 SF
Sold 06/15/2020
SOLD
Alexa Group & Shelbourne International Acquire Multifamily Property In Hartford, CT For $22M
50 Morgan Street North, Hartford, CT, USA
See Similar DealsMultiFamily254,458 SF
Sold 06/15/2020
Summary
CONNECTICUT
Asset Type:MultiFamily
Price Per Square Foot:$86
Total Square Footage:254,458 SF
Transaction Type:Sale
Located at 50 Morgan St in Hartford, CT, this recently sold multifamily property has garnered attention in the real estate market. The property consists of 260 units, making it a significant investment opportunity.
Summary of transaction details:
- Property Type: Multifamily
- Sale Price: $22,000,000
- Date: 06/15/2021
- Sellers: DW Capital
- Buyers: Alexa Group & Shelbourne International
- Brokers: Rick Chozick & Tom Boyle - Chozick Realty
- Market: Hartford, CT
The sale of this property was successfully facilitated by Rick Chozick and Tom Boyle, representing Chozick Realty. Their expertise in the market played a pivotal role in bringing together the sellers, DW Capital, and the buyers, Alexa Group & Shelbourne International. The deal was completed on 06/15/2021, resulting in a sale price of $22,000,000.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,173,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$78,161.35
Cash-on-Cash Return-1.27%
Monthly Debt Service$104,291.22
Annual Debt Service$1,251,494.69
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