Shelton, CT (October 25, 2023)- Northeast Private Client Group® (NEPCG) has announced the sale of 33 Woodbury Avenue in Norwalk, CT and 1421 Fairfield Avenue in Bridgeport, CT.
Senior Vice President Brad Balletto; Senior Associates Jeff Wright, Rich Edwards, and Bob Paterno; and Associates Chris Bierezowiec and Pat Hegarty represented the seller and procured the buyer in both transactions.
33 Woodbury Avenue, an 8-unit multifamily property in Norwalk, sold for $1,750,000 on August 11th, 2023 and 1421 Fairfield Avenue, a 25-unit mixed-use property in Bridgeport, sold for $1,900,000 on September 5th, 2023.
“Being a turnkey Fairfield County multifamily asset in one of the best markets in the state of Connecticut, this was a very competitive process in which we had tremendous investor interest. The new owner will benefit from owning a recently renovated building with no immediate capital expenditure requirements adjacent to Norwalk Hospital; the seller benefited from achieving unparalleled pricing for a multifamily building comprised of 100% studio apartments,” said Senior Associate Rich Edwards commenting on the 33 Woodbury transaction.
“Congratulations to the buyer and seller for closing this final leg of the sale of a 462-unit portfolio in Bridgeport. The first block of 437 units closed earlier this year, and I am grateful to have represented both sides in both transactions.” -Brad Balletto, Senior Vice President commenting on the 1421 Fairfield Avenue transaction.
Northeast Private Client Group® specializes in mixed-use, retail, and multifamily real estate, exclusively representing investors, property owners, and professional real estate investors. To date, more than 1,200 successful transactions have been completed; totaling over $4 billion in value within local submarkets around the Northeast and Southeast regions of the United States.