Updated Jun 11, 2025
Northeast Private Client Group Arranges Sale Of Student Housing At 62 Chestnut Street For $8.5M
62 Chestnut Street
$8,500,000
Units
36
Asset Type
Student Housing
Closing
Jun 6, 2025
About this deal
AI
62 Chestnut Street is a 36-unit student housing property located in Danbury, CT, near Western Connecticut State University. The property was sold for $8,500,000, with a price per unit of $236,111.
Summary of transaction details:
- Property Type: Student Housing
- Transaction Amount: $8,500,000
- Units: 36
- Price per Unit: $236,111
- Address: 62 Chestnut Street
- Market: Danbury, CT
Jeff Wright and Richard Edwards, representing NorthEast Private Client Group, facilitated the sale of the property, overseeing the transaction process for the involved parties.
Players
Bethel Student Housing Market Snapshot
Boundary boundary · Student Housing · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.87%
Cash-on-Cash
-0.53%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93