25th Century Acquires Multifamily Property In Hartford, CT For $16.3M
SOLD
$16,300,000
+ 3
Connecticut
See Similar DealsMultiFamily550 SF
Sold 08/17/2020
SOLD
25th Century Acquires Multifamily Property In Hartford, CT For $16.3M
873 West Blvd, Hartford, CT, USA
See Similar DealsMultiFamily550 SF
Sold 08/17/2020
+ 3
Summary
CONNECTICUT
Asset Type:MultiFamily
Price Per Square Foot:$29,636
Total Square Footage:550 SF
Transaction Type:Sale
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
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$869,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$57,910.46
Cash-on-Cash Return-1.27%
Monthly Debt Service$77,270.32
Annual Debt Service$927,243.79
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