Northeast Private Client Group Sells Multifamily Property in Norwich, CT for $2.55 Million
– Leading mid-market investment sales firm represents seller and sources buyer for multifamily property–
Shelton, CT (December 23, 2019) – Investment sales broker Northeast Private Client Group has announced the sale of ArtSpace Norwich located at 35 Chestnut Street in Norwich, CT. Taylor Perun, Senior Associate for the firm, represented the seller and procured the buyer in the $2,550,000 transaction.
ArtSpace Norwich is a historic renovation comprised of 58 units; 11 market rate and 47 dedicated affordable. ArtSpace Norwich Limited Partnership sold the property to a private local investor for a price that equates to $43,965 per unit and a cap rate of 8.45 percent.
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: https://northeastpcg.com.