Greenwich, CT National Multifamily brokered the sale of a six-unit apartment building and a contiguous developable parcel located at 113 S. Water St. to a Connecticut based investor for $2,076,500 ($344,167 per unit). The deal closed on May 19th. Company president Matt Cawley represented the seller and procured the buyer in the transaction.
The subject property, 113 S. Water St. was comprised of two lots: a six-unit (four two-bedroom apartments and two studio apartments) and a 0.10-acre lot. The three-story property, totaling 5,985 s/f was originally built in 1919 and fully renovated in 2019. Situated on a combined 0.20-acre site in the “Byram” neighborhood of Greenwich, there was surface parking on the developable lot and a garage in the rear of the building. The owner paid for heat and hot water at the property.
Cawley said, “We are pleased to have represented the seller who had meticulously renovated the property in 2019. Our marketing generated an over asking price offer within 36 hours of the property being on the market. The building will fit nicely in the buyer’s portfolio as they already own multiple properties nearby.”
National Multifamily was founded by Cawley in 2022. Headquartered in Rye Brook, NY the company focuses exclusively on the sale of multifamily and mixed-use properties. With a primary focus in the states of New York and Connecticut, the company is additionally licensed in the states of New Jersey, Massachusetts, Rhode Island, New Hampshire, Pennsylvania, Colorado, Georgia, South Carolina, North Carolina, & Florida.
While the company has grown in geographic reach, Cawley continues to be one of the top multifamily brokers in Fairfield County.
The sale of 113 S. Water St. marks the fourth sale Cawley has completed in the Byram neighborhood of Greenwich over the last two years.
