BLT Sells Connecticut Community for $73M
This marks the second-largest multifamily sale in Stamford so far this year. Apr082021
Image courtesy of Building and Land Technology
Real estate investment firm Monday Properties has teamed up with Dubai-based neo capital to purchase a 218-unit, Class A apartment community in Stamford, Conn., for $73 million.
Building and Land Technology (BLT) sold the five-story property, which forms part of the developer’s Harbor Point mixed-use neighborhood in the New York City suburb.
The sale price translates to $334,862 per unit for the asset, which was completed in 2018 and is currently 95 percent leased. Located at 28 and 30 Southfield Ave., the property sits on a nearly 3-acre waterfront site and offers studio, one- and two-bedroom apartments. Lincoln Property Co. will manage the community.
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