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:
- Property Type: Multifamily
- Transaction Amount: $4,400,000
- Address: 838 Wood Avenue
- Market: Bridgeport, CT
- Units: 42
- Price Per Unit: $104,762
- Acres: 1.15
- Buyer: Joe Katz
- Seller: Marc Levy
- Broker: Bradley Balletto - NorthEast Private Client Group
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.
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