Invictus Real Estate Partners Acquires Mixed-Use Property In Norwalk, CT For $157M
SOLD
$157,000,000
+ 2
Connecticut
See Similar DealsMultiFamily56,000 SF
Sold 09/24/2020
SOLD
Invictus Real Estate Partners Acquires Mixed-Use Property In Norwalk, CT For $157M
515 West Ave, Norwalk, CT 06850, USA
See Similar DealsMultiFamily56,000 SF
Sold 09/24/2020
+ 2
Summary
CONNECTICUT
Asset Type:MultiFamily
Price Per Square Foot:$2,803
Total Square Footage:56,000 SF
Transaction Type:Sale
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.
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30 years
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Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$8,373,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$557,787.85
Cash-on-Cash Return-1.27%
Monthly Debt Service$744,260.10
Annual Debt Service$8,931,121.17
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