As seen in Real Estate Weekly
Northeast Private Client Group recently announced the sale of three buildings located in Connecticut for $4.9 million. Brad Balletto, VP investments, Taylor Perun, senior associate, Rich Edwards, investment associate, Jeff Wright, investment associate, and Rob Fiamengo, junior associate, represented the sellers and procured the buyers in all three transactions
• Brad Balletto and Taylor Perun closed the sale of 805 Main St, 28-68 Atwood Court, and 15-20 Pythian Ave, Watertown, Conn, a 28-unit multifamily portfolio. The seller, a private Connecticut-based investor, sold the property to another private Connecticut-based investor for $1,725,000. This equates to a price of $61,607 per unit with a capitalization rate of 8.2 percent on the current new operating income.
• Taylor Perun and Rob Fiamengo closed the sale of 102 Wellswood Road, Amston, Conn. This 32-unit multifamily property traded for $2,080,000 to Spin Ghar Properties LLC. This equates to a price of $65,000 per unit and a capitalization rate of 6.8 percent based on the current net operating income. The seller, Hebron Properties, is based in Amston, CT.
• Brad Balletto, Rich Edwards, and Jeff Wright closed the sale of 125 Granfield Avenue, Bridgeport Conn, a 16-unit multifamily property. The seller, a private Connecticut-based investor, sold the property to Birdseye Development for $1,175,000. This equates to a price of $73,437 per unit with a capitalization rate of 7.6 percent on the current net operating income.
About Northeast Private Client Group
Northeast Private Client Group is the fastest growing mid-market investment sales firm in the Northeast, providing unmatched results by combining specialized market intelligence with a relationship-based marketing strategy that caters to each client’s needs. The firm’s collaborative and research-driven solutions are tailored to meet the individual needs of investors across the Northeast who are looking to buy, sell or exchange mid-market properties including mixed-use, multifamily, retail and office assets. Northeast Private Client Group’s highly disciplined process is just one of the many reasons the firm has earned CoStar’s Power Broker designation year after year, and been ranked on the Inc5000 list of America’s fastest-growing private companies. To learn more, visit: www.northeastpcg.com.