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August 2, 2024

Norwalk apartment building sells for $10.5M

Contributed The Overlook apartment building on Connecticut Avenue in Norwalk.
By Hanna Snyder Gambini

A 33-unit Norwalk apartment building less than two years old has been sold for more than $10 million.

ALPHA5MK and Peter Kosann. of Rye, N.Y., bought The Overlook apartments at 71 Connecticut Ave., Norwalk, for $10.5 million from EDM2 LLC and principal Jason P. Enters in a deal recorded July 18.  

The three-floor, 43,600 square-foot apartment building has covered parking on the ground level. It was built in 2022 and had an appraised value of $9.4 million as of 2023.

The apartments, which are all market rate except for four workforce housing units, are fully occupied.

Rich Edwards and Jeff Wright, of Shelton-based Northeast Private Client Group, represented the seller and the buyer in this deal. 

Edwards said the sale shows “the robust demand for new construction multifamily properties in lower Fairfield County.”


 

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