Greyhill Group Acquires Multifamily Property In Hartford, CT For $5.9M
SOLD
$5,900,000
+ 1
Connecticut
See Similar DealsMultiFamily78,860 SF
Sold 12/02/2022
SOLD
Greyhill Group Acquires Multifamily Property In Hartford, CT For $5.9M
74 Union Place
See Similar DealsMultiFamily78,860 SF
Sold 12/02/2022
+ 1
Summary
CONNECTICUT
Asset Type:MultiFamily
Price Per Square Foot:$74
Total Square Footage:78,860 SF
Transaction Type:Sale
The multifamily property located at 74 Union Place in Hartford, CT has been sold. The property consists of 69 units and spans across 78,860 square feet. The sale price for this transaction was $5,900,000, with a price per unit of $85,507 and a price per square foot of $75.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $5,900,000
- Units: 69
- Price Per Unit: $85,507
- Square Footage: 78,860
- Price Per Square Foot: $75
The buyer of the property is Greyhill Group, represented by Moshe Bloorian, Managing Director, and David Aziz, Director of Acquisitions. The seller in this transaction is Morgan Reed. The deal was facilitated by brokers Wesley Klockner from Marcus & Millichap and Victor Nolletti.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$314,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$20,961.45
Cash-on-Cash Return-1.27%
Monthly Debt Service$27,969.01
Annual Debt Service$335,628.12
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