25th Century Acquires Multifamily Property In Hartford, CT For $16.3M
873 West Blvd, Hartford, CT, USA
$16,300,000
$29,636/SF
Building Size
550 SF
Asset Type
MultiFamily
Closing
Aug 16, 2020
AI
Forum Capital Partners and Cantor Real Estate have sold a multifamily property located at 873 West Blvd. and 748 New Britain Ave. in Hartford, CT. The property consists of 217 units, with each unit priced at $75,115, resulting in a total sale price of $16,300,000. The transaction took place on August 17, 2020.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $16,300,000
- Units: 217
The buyer in this transaction is 25th Century, while the seller was Forum Capital Partners and Cantor Real Estate. CBRE represented both parties in the deal, with the following brokers involved: Jeffrey Dunne, Gene Pride, Eric Apfel, Jeremy Neuer, Steven Bardsley, and David Gavin. The property is situated in the Hartford, CT market.
Players
Hartford 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
0.97%
Cash-on-Cash
-0.28%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93