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515 West Ave, Norwalk, CT 0...

Invictus Real Estate Partners Acquires Mixed-Use Property In Norwalk, CT For $157M
SOLDMultiFamily

Invictus Real Estate Partners Acquires Mixed-Use Property In Norwalk, CT For $157M

515 West Ave, Norwalk, CT 06850, USA

$157,000,000

$2,803/SF

Building Size

56,000 SF

Asset Type

MultiFamily

Closing

Sep 23, 2020

AI

The mixed-use property located at 515 West Avenue in Norwalk, CT has been sold for a total price of $157,000,000. The transaction was completed on September 24, 2020. The property, owned by Carmel Partners and Ron Zeff, was purchased by Invictus Real Estate Partners, represented by Eric Scheffler.

Summary of transaction details

  • Property Type: Mixed-use
  • Transaction Amount: $157,000,000
  • Address: 515 West Avenue, Norwalk, CT
  • Market: Norwalk, CT
  • Seller: Carmel Partners – Ron Zeff
  • Buyer: Invictus Real Estate Partners – Eric Scheffler

Invictus Real Estate Partners, led by Eric Scheffler, successfully acquired the mixed-use property located at 515 West Avenue in Norwalk, CT from Carmel Partners and Ron Zeff. This significant transaction highlights the continued investment activity in the Norwalk market.

Players

Brendan Collins

JLL

Broker

$212.8M

vol

2 deals

Broker
Invictus Real Estate Partners
Invictus Real Estate PartnersBrokerage
Ron Zeff

Ron Zeff

Carmel Partners

Seller

$2.5B

vol

8 deals

Seller

Norwalk 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

0.10%

Cash-on-Cash

-0.03%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93