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March 2, 2022 REAL ESTATE

Four area multifamily properties sell for combined $15.5M

Photo | Contributed Westnor Apartments, at 45 Monroe St., Bridgeport
By Michelle Tuccitto Sullo

Apartment complexes in New Haven, Hamden and Bridgeport changed hands recently in investment deals totalling $15.5 million.

Northeast Private Client Group, an investment sales firm based in Shelton, represented sellers and procured buyers in four separate transactions, the firm announced. 

Brad Balletto, senior vice president, investments for the firm, said the state’s multifamily investment sales market is continuing to see “strong demand” from regional investors.

“I believe it remains one of the best investment opportunities in the country when considering going-in yield, demographics and rent growth,” Balletto said, in an announcement.

In the largest of the four deals, Westnor Apartments, at 45 Monroe St., Bridgeport, sold for $8.1 million. The property is a three-story building with 57 units, located in the city’s Black Rock neighborhood, within walking distance of the waterfront promenade. Westnor Apartments LLC sold the property to BlackRock Homes Partners LLC, records show.

The second largest deal involved Norell Apartments, at 48 Amsterdam Ave., Bridgeport, which sold for $3.1 million. The three-story, 16,500-square-foot property has 25 residential units and parking for 25 vehicles. Norell Apartments LLC sold the property to Amsterdam Partners LLC.

PHOTO | CONTRIBUTED
245-258 Nicoll St., New Haven

Nicoll Street Apartments, a 10,332-square-foot luxury apartment complex featuring nine units at 245-258 Nicoll St., New Haven, sold for $2.18 million. The complex, located in the East Rock neighborhood, was renovated in 2015. Documents show NHRG V LLC sold the property to Nicoll St. Paddock LLC and Nicoll Street East 37 LLC.

PHOTO | CONTRIBUTED
29-37 Washington Ave., Hamden

Washington Park, a 13-unit apartment property at 29-37 Washington Ave., Hamden, sold for $2.1 million. It has a total living area of 10,518 square feet, and sits on 0.58 acres. Washington Park LLC sold the property to CT 29 Washington Ave. LLC, according to town records.

In addition to Balletto, Rich Edwards, Jeff Wright and Bob Paterno with Northeast Private Client Group were involved in brokering the sales.

Contact Michelle Tuccitto Sullo at msullo@newhavenbiz.com.

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