Northeast Private Client Group Sells Multifamily Property in Wallingford, CT for $5.025 Million
– Leading mid-market investment sales firm represents seller and sources buyer for multifamily property. –
Shelton, CT (October 29, 2020) – Investment sales broker Northeast Private Client Group has announced the sale of Wharton & Parsons Apartments, located at 286 South Elm Street and 24 Parsons Street in Wallingford, CT. Brad Balletto, VP of investments for the firm, along with senior associates, Rich Edwards and Jeff Wright, and investment associate, Bob Paterno, represented the seller and procured the buyer in the $5,025,000 transaction.
Wharton & Parsons Apartments is a two building, 37-unit property in Wallingford consisting of spacious two-bedroom units. Local, Connecticut based seller, Navarino Capital, sold the property to New York based investor, Yellowstone Capital, for a price that equates to $135,810 per unit and a cap rate of 7.10 percent.
About Northeast Private Client Group
Northeast Private Client Group is a leading mid-market investment sales firm and has been named as one of the Inc5000 Fastest-Growing Private Companies in the US. With offices in New York, Connecticut, Rhode Island and Massachusetts, we provide unmatched results by combining specialized market intelligence with a relationship-based marketing strategy that caters to our individual clients’ needs. We have a proven track record of matching our clients with qualified buyers of multifamily and commercial properties in the submarkets we serve. Over the past ten years, our team has closed transactions with a total value over $1.5 billion.Our collaborative and research-driven solutions are tailored to meet the individual needs of investors and property owners across the Northeast who are looking to buy, sell or exchange mid-market properties, including mixed-use, multifamily, retail and office assets.
To learn more, visit: https://northeastpcg.com.