Cawley of National Multifamily brokers four-unit sale for $2.701 million

Old Greenwich, CT National Multifamily brokered the sale of a four-unit apartment building located at 193 Sound Beach Ave. to a New York-based investor for $2.701 million ($675,250 per unit). The deal closed on February 12, 2026. Company president Matt Cawley represented the seller in the transaction.

The property at 193 Sound Beach Ave. was comprised of four units (two retail units on the ground floor with two oversized one-bedrooms on the second floor) totaling 5,570 rentable s/f in one-two story building. The property was built in 1915, is on a 0.14-acre site, and has six off-street parking spaces. The landlord paid for the heat through a central gas system. The apartments have in-unit laundry, separate electric hot water heaters, and both have sundecks that can be accessed via the back of the apartments and from the parking lot in the rear.

Cawley said, “We are pleased to have represented the seller whose family had maintained the property through multiple generations. Our marketing generated 15 offers in the first week, showing the strength of Connecticut’s transit-oriented business districts for mixed-use properties. We look forward to what the buyer has in store for the property as they bring the building into the next era.”

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 Connecticut.