The Fremont Group Sells Office Building In East Hartford, CT For $50M
SOLD
$50,000,000
+ 1
Connecticut
See Similar DealsOffice
Sold 07/27/2022
SOLD
The Fremont Group Sells Office Building In East Hartford, CT For $50M
255 Pitkin Street, East Hartford, Connecticut 06108, United States
See Similar DealsOffice
Sold 07/27/2022
+ 1
Summary
CONNECTICUT
Asset Type:Office
Transaction Type:Sale
The office property located at 255 Pitkin St & 101 East River Drive in East Hartford, CT has been sold for a total price of $50,000,000. The transaction took place on 07/27/2022.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $50,000,000
- Seller: The Fremont Group
- Brokers: Patrick Mulready & John McCormick - CBRE and Cory Gubner & Alex Haendler - Newmark
The sellers of the property were The Fremont Group. The deal was facilitated by the following brokers: Patrick Mulready and John McCormick from CBRE, and Cory Gubner and Alex Haendler from Newmark.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,666,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$177,639.45
Cash-on-Cash Return-1.27%
Monthly Debt Service$237,025.51
Annual Debt Service$2,844,306.11
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