Northeast Private Client Group Sells Multifamily Portfolio in New Haven, CT for $4.85 Million
– Leading mid-market investment sales firm represents seller and sources buyer for multifamily portfolio. –
Shelton, CT (May 29, 2020) – Investment sales broker Northeast Private Client Group has announced the sale of Ashmun Flats and Mill River Portfolio, located in New Haven, CT. Brad Balletto, VP of investments for the firm, along with senior associates, Rich Edwards and Jeff Wright, and junior associate, Bob Paterno, represented the seller and procured the buyer in the $4,850,000 transaction.
Ashmun Flats and Mill River Portfolio is comprised of 28 multifamily units and one (1) retail suite. Ashmun Flats is a 9,500 SF Class A property located in the Science Park neighborhood of New Haven, consisting of eight (8) luxury apartments and one (1) retail suit. Mill River Portfolio consists of nine (9) town homes and 11 apartments in the emerging Mill River neighborhood of New Haven. New Haven based seller, NHR Group, sold the property to a New Haven based investor, Elm City Realty, for a price that equates to $167,241 per unit and a cap rate of 7.07 percent.
About Northeast Private Client Group
Northeast Private Client Group is a leading mid-market investment sales firm and has been named as one of the Inc5000 Fastest-Growing Private Companies in the US. With offices in New York, Connecticut, Rhode Island and Massachusetts, we provide unmatched results by combining specialized market intelligence with a relationship-based marketing strategy that caters to our individual clients’ needs. We have a proven track record of matching our clients with qualified buyers of multifamily and commercial properties in the submarkets we serve. Over the past ten years, our team has closed transactions with a total value over $1.5 billion.Our collaborative and research-driven solutions are tailored to meet the individual needs of investors and property owners across the Northeast who are looking to buy, sell or exchange mid-market properties, including mixed-use, multifamily, retail and office assets.
To learn more, visit: www.northeastpcg.com.