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NorthEast Private Client Group Facilitates $12.21M Sale Of Multifamily Properties In Bridgeport CT

Property Image
SOLD
$12,215,000

Connecticut

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MultiFamily
Sold 07/29/2024
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Property Image
SOLD

NorthEast Private Client Group Facilitates $12.21M Sale Of Multifamily Properties In Bridgeport CT

838 Wood Avenue, 125 Granfield Avenue, 165 Mckinley Avenue, 199 Mckinley Avenue, 1795 North Avenue & 25 Saint Stephen Street

See Similar Deals
MultiFamily
Sold 07/29/2024
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Summary

CONNECTICUT
Asset Type:MultiFamily
Transaction Type:Sale

The transaction involves the sale of five multifamily properties located at 838 Wood Avenue, 125 Granfield Avenue, 165 Mckinley Avenue, 199 Mckinley Avenue, 1795 North Avenue, and 25 Saint Stephen Street in Bridgeport, CT. The sale price for these assets totaled $12,215,000, which translates to a price per unit of $105,302, with a total of 116 units included in the deal.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $12,215,000
  • Units: 116
  • Price Per Unit: $105,302
  • Market: Bridgeport, CT

Northeast Private Client Group played a crucial role in arranging the sale, with managing director Bradley Balletto and senior associate Richard Edwards representing the seller and procuring the buyers for all three transactions involved.

Players

Richard (Rich) Edwards
30 deals$150.9M volume
BROKER

Bradley (Brad) Balletto
NorthEast Private Client Group
14 deals$150.9M volume(203) 307-1574
BROKER

Details

SOLD
IMAGE: 07/29/2024 ADDRESS: 838 Wood Avenue, 125 Granfield Avenue, 165 Mckinley Avenue, 199 Mckinley Avenue, 1795 North Avenue & 25 Saint Stephen Street MARKET: Bridgeport, CT ASSET TYPE: Multifamily BROKERS: Bradley Balletto & Richard Edwards - NorthEast Private Client Group SALE PRICE: $12,215,000 UNITS: 116 ~ PPU: $105,302 NOTE: Northeast Private Client Group arranged the sale of five properties totaling 116 units in Bridgeport, CT, for $12,215,000. Managing director Brad Balletto and senior associate Rich Edwards represented the same seller and procured the buyers for all three transactions.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$651,466.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$43,397.31
Cash-on-Cash Return-1.27%
Monthly Debt Service$57,905.33
Annual Debt Service$694,863.98