59 Ponemah Hill Road, Milford, NHMilford, NH Brady Sullivan Properties arranged the sale of 36 units at Quarrywood Green for $3.25 million or $90,000/unit. The cap rate at the time of the sale was 8.2% with an annual NOI of $267,292. Brady Sullivan’s in-house commercial team of Charles Panasis, Ben Kelley and James Tobin facilitated the transaction on behalf of the seller.
Quarrywood Green is a garden style condominium complex consisting of two buildings totaling 66 condominium units. The packaged portfolio of 36 units was fully rented and consisted of mostly 2-bedroom, 2-bath units.
Built in 2003, Quarrywood Green’s condominium units are complete with onsite laundry facilities, fully appliance kitchens, private balconies, and on-site parking. The fractured condominium development includes premium condo homes with granite countertops, Brazilian Cherry floors, and stainless steel appliances. An on-site outdoor playground and barbeque area paired with the community’s proximity to major highways in southern New Hampshire offer a complete living experience for all tenants.
Brady Sullivan Properties owns over 4 million s/f of office, retail and industrial real estate in New Hampshire. New-to-market assets available for sale include Jefferson Place and Deerhaven Preserve condominium communities in Manchester, Burke Street Industrial Park in Nashua, and 4 Technology Dr. in Londonderry.