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June 17, 2024

Bridgeport apartment building fetches more than $4M in sale

Costar 838 Wood Ave., Bridgeport

A Bridgeport multifamily apartment building was sold for more than $4 million.

The Doral Apartments, at 838 Wood Ave., was sold by Marc and Allen Levy Doral to 838 Wood LLC and principal LYP  Management of Wallingford, for $4.4 million in a deal recorded June 4.

Bradley Balletto of Shelton-based Northeast Private Client Group represented the seller and procured the buyer. Balletto said LYP is a real estate management and investment firm that owns other Connecticut multifamily properties, this being the first in Bridgeport.

The two-story brick building was last sold in 2000 for just over $1 million. The apartments were built in 1965 and include 18,720 square feet of space, according to city land records.

LYP plans to make some cosmetic updates to the property and modernize the units, Balletto said. The property has 42 units, made up of 16 studios and 26 one-bedroom apartments.

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