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Monday Properties JV buys luxury Stamford building for $73M

JLL Capital Markets announced today that it has handled the $73 million sale of Harbor Landing, a 218-unit, ultra-luxury apartment community located in Stamford, Connecticut.  JLL exclusively represented the seller, a joint venture between Building and Land Technology and Lubert Adler Real Estate Funds, and procured the buyer, Monday Properties and Neo Capital. Harbor Landing is a Class A apartment community completed in 2018 and consisting of studio, one- and two-bedroom floorplan options with high-end finishes. The apartments also feature resort-style amenities, including a pool, club room, fitness center and expansive outdoor sundeck with firepits and grills. The property has views of Harbor Point and the Long Island Sound. It is part of a greater mixed-use community comprising of a 14-acre stretch of land that offers two restaurants, a waterfront boardwalk, marinas with slips for yachts and boats and four office buildings, which include 66,314 square feet of newly redeveloped

BLT Sells Connecticut Community for $73M

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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