Bridgeport Apartment Complex Sells for $1.9M

As seen on New Haven Biz

Northeast Private Client Group of Shelton sold a 16-unit apartment building in Bridgeport for $1.9 million in one of three multifamily transactions, the company announced Monday. The Bridgeport sale involved Atlantic Street Apartments, a 16-unit waterfront property built in 1983. The $1.9 million sales price works out to $118,750 per unit.

Northeast’s Metro-North Investment Sales Team also announced the sale of a 14-unit multifamily portfolio in Greenwich for $3.575 million, or $255,357 per unit, consisting of two properties on North Water Street and one on Beech Street.

The third transaction involved the sale of Fairfield Avenue Apartments, a 21-unit multifamily property in South Norwalk for $3.875 million, or $184,523 per unit.

“These transactions are all representative of what I believe to be an opportunity in Connecticut at the moment for real estate investors, particularly relative to many other parts of the country,” said Bradley Balletto, vice president of investments at Northeast Private Client Group.

The firm specializes in mid-market, multifamily real estate properties between $1 million and $50 million in the Northeast and Southeast.

Contact Liese Klein at lklein@newhavenbiz.com.