Northeast Private Client Group Sells Multifamily Portfolio in New Haven, CT for $2.05 Million

Northeast Private Client Group Sells Multifamily Property in New Haven, CT for $2.05 Million

Leading mid-market investment sales firm represents seller and sources buyer for multifamily portfolio.–

 

Shelton, CT (April 30, 2020) – Investment sales broker Northeast Private Client Group has announced the sale of Turning Wheel 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 $2,050,000 transaction.

Turning Wheel Portfolio comprises 6 multifamily buildings and 3 single family rental homes, with a total of 20 units located in the Wooster Square, Edgewood, Beaver Hills, and Westville neighborhoods of New Haven. A private Connecticut based seller sold the property to a New Haven based owner and operator for a price that equates to $102,500 per unit and a cap rate of 7.33 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.