Multiple Connecticut Buildings sell for $4.9 Million

Shelton, Conn. (November 13, 2018) – Investment sales broker Northeast Private Client Group has announced the sale of three Connecticut buildings. Brad Balletto, VP investments, Taylor Perun, senior associate, Rich Edwards, investment associate, Jeff Wright, investment associate, and Rob Fiamengo, junior associate in the firm’s Shelton, Conn. office, represented the sellers and procured the buyers in all three transactions totaling $4,980,000.

“We have a proven track record of matching our mid-market clients with qualified buyers for commercial and multifamily properties,” said Perun. “In all of three of these instances we worked exclusively for the owners of the properties to manage a highly competitive process and identify the successful buyer for each asset.”

On October 25th, 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.

On October 29th, 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.

On November 1st, 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.

“Our team has a deep understanding of investment real estate with local expertise in regional submarkets from Boston to New York,” explained Edward Jordan, JD, CCIM, managing director of Northeast Private Client Group. “Our specialized knowledge and relationship-based approach provide unmatched results for our clients.”

About Northeast Private Client Group
Northeast Private Client Group is the leading mid-market investment sales firm in the region and was recently named to the Inc5000 list of America’s fastest-growing private companies. With offices in New York, Connecticut and Massachusetts, the firm actively supports private investors 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. To learn more, visit: www.northeastpcg.com.

PHOTO: 125 Granfield Avenue, Bridgeport Conn