Shelton, CT (April 21, 2022) – The NEPCG Metro North Investment Sales Team announced today the brokering of The Bridge Street Apartments in Norwalk, Connecticut, and The Sun Plaza retail and medical office building.
The Metro North Investment Sales Team consisting of Brad Balletto, Rich Edwards, Jeff Wright, Bob Paterno, and John Lockhart, represented the sellers, two local real estate investors, and business owners, and procured the buyers, a New York-based real estate investor and a local Connecticut real estate investor in a 1031 Exchange.
Bridge Street Apartments, located at 7 Bridge Street in Norwalk, Connecticut, sold for $1,112,500. This (5) five-unit multifamily building had been in the same family for over 40 years. The property is situated in East Norwalk, one of the strongest rental markets in the state. Bridge Street Apartments is ideal for commuters, located one mile from the I-95 entrance and within walking distance to the East Norwalk Train Station. The community offers residents premier amenities, including Downtown South Norwalk’s dining, shopping, and entertainment options, Calf Pasture Beach, the SoNo Collection dining and shopping options, and the Maritime Aquarium.
Sun Plaza, located at 151 Old Ridgefield Road in Wilton, Connecticut, sold for $4,900,000. This 15,639 square foot retail and medical office building are conveniently located along the Route 7 transportation artery. It is also within walking distance from the Wilton Train Station and many local businesses and restaurants. Due to the limited developable land available along this route, Sun Plaza benefits from high tenant demand for retail and professional/medical office use, providing the buyer with a unique opportunity in this region.
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 1000 successful transactions have been completed totaling over $3 billion in value within local submarkets around the Northeast and Southeast regions of the United States.