Northeast Private Client Group Sells Multifamily Property in Norwalk, CT for $17 Million
– Leading mid-market investment sales firm represents seller and sources buyer for multifamily property.–
Shelton, CT (April 20, 2020) – Investment sales broker Northeast Private Client Group has announced the sale of Point Rock Apartments located at 34 Oakwood Avenue in Norwalk, CT. Brad Balletto, VP of investments for the firm, along with senior associates, Rich Edwards and Jeff Wright, represented the seller and procured the buyer in the $17,000,000 transaction.
Point Rock Apartments is a rare 54-unit new construction luxury multifamily property located off of Main Avenue in northern Norwalk. A private Connecticut based developer sold the property to a NY based investor for a price that equates to $314,815 per unit and a cap rate of 5.56 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.