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838 Wood Avenue

Joe Katz Buys Doral Apartments In Bridgeport Multifamily Sale For $4.4M
SOLDMultiFamily

Joe Katz Buys Doral Apartments In Bridgeport Multifamily Sale For $4.4M

838 Wood Avenue

$4,400,000

Building Size

Asset Type

MultiFamily

Closing

Jun 20, 2024

AI

The 42-unit Doral Apartments at 838 Wood Ave. in Bridgeport, built in the 1960s, sold for $4.4 million. The property, offering a mix of studio and one-bedroom units, was brokered by Northeast Private Client Group and presents a value-add opportunity in a transforming part of Bridgeport.

Summary of transaction details:

The sale of the Doral Apartments at 838 Wood Ave. in Bridgeport was facilitated by Bradley Balletto from NorthEast Private Client Group. Joe Katz acted as the buyer in this transaction, while Marc Levy served as the seller.

Players

Bradley Balletto

NorthEast Private Client Group

Broker

$150.9M

vol

14 deals

Broker

Bridgeport 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

3.61%

Cash-on-Cash

-1.03%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93