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| Edward Jordan |
HELTON, CT, Oct. 9, 2015
-– Investment sales broker Northeast Private Client Group has announced the
sale of four buildings located in New Haven, CT.
Edward
Jordan, JD, CCIM, the firm’s managing director, Bradley Balletto, its regional manager, and David Almeida, a senior associate in the firm’s Connecticut office,
represented the sellers and sourced the buyers in multiple transactions
totaling $5,450,000. All of these
transactions closed in the past 30 days.
“The success of these
transactions is the direct result of our relationship approach to investment
sales,” said Jordan. “Leveraging our
multi-state platform enabled us to source the most qualified buyers for each of
these assets.”
On September 18, Northeast
Private Client Group closed the sale of 105 Court Street, a 30,000-square-foot
mixed-use commercial property at the corner of State Street. The seller, PMC Property Group of
Philadelphia, PA, transferred the property to New Haven-based MOD Equities LLC
for $1,900,000. This price equates to a
price of nearly $65 per square foot and a capitalization rate of 6.5% on the
current net operating income.
 |
| Bradley Balletto |
Also on September 18,
Northeast Private Client Group closed the sale of the Crawford House Apartments
located at 101 Grand Street in New Haven.
This 12-unit multifamily property traded for $300,000 in an off-market
transaction.
The seller, Harvest Apartments,
is a national multifamily investor based in Wethersfield, CT. The buying entity is affiliated with Navarino
Capital Management of Bridgeport, CT, an owner/operator of southern New England
multifamily and commercial assets.
Goldman, Gruder & Woods, LLC, was the buyer's legal representative.
Northeast Private Client
Group also closed the sale of 115 Pendleton Street, a 30-unit multifamily
property near the intersection of Whalley Avenue and Ella Grasso Boulevard in
New Haven on September 18. The seller,
For Life LLC of New Haven, CT, transferred the property to New York-based
Cypress Circle Corp for $2,200,000. This
price equates to a price of more than $73,000 per unit and a capitalization
rate of 7.4% on the current net operating income.
 |
| David Almeida |
Lastly, on October 8,
Northeast Private Client Group closed the sale of a 21-unit multifamily
portfolio comprising properties located at 271 Sherman Avenue, 25-29 Judith
Terrace and 195-199 Lenox Street in New
Haven.
The seller, Kris Andrew
Properties LLC of New Haven, CT, transferred the property to New Haven-based
Super Zen LLC for $1,050,000. This price
equates to a price of $50,000 per unit and a capitalization rate of 10% on the
current net operating income.
“New Haven multifamily and
mixed-use assets are trading on strong occupancy and rent growth,” said
Balletto. “Our multi-state brokerage
platform benefits sellers and buyers alike and results in successful
transactions for all parties.”
For a complete copy of the company’s news release,
please contact:
Randy Savicky
Founder/CEO
Strategy+Communications
Concierge Public Relations
Services
203-226-6156
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