Northeast Private Client Group Sells Brook & Middle Portfolio For $8.1M
572 Brook Street Bristol, Connecticut 06010, USA
$8,100,000
$146/SF
Building Size
55,399 SF
Asset Type
MultiFamily
Closing
Jul 21, 2023
AI
The Brook & Middle Portfolio, located at 572 Brook St. and 916 Middle St. in Bristol, CT, has been sold for $8.1 million. The portfolio consists of multifamily investment properties with a total of 75 units. The sale price equates to an average of $108,000 per unit. The total square footage of the properties is 55,399, resulting in an average price per square foot of $146.
Summary of transation details
- Property Type: MultiFamily
- Transaction Amount: $8,100,000
- Units: 75
- Price Per Unit: $108,000
- Square Footage: 55,399
- Price Per Square Foot: $146
- Brokers: Bradley Balletto & Robert Paterno - NorthEast Private Client Group
The sale of the Brook & Middle Portfolio was facilitated by senior vice president Brad Balletto and senior associate Bob Paterno of NorthEast Private Client Group. They represented the seller and procured the buyer in this successful transaction, which involved a total of 75 units and included multifamily investment properties at 572 Brook St. and 916 Middle St.
Players
Nelson MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.96%
Cash-on-Cash
-0.56%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93