Stamford, CT According to CBRE Group, Inc., Jeffrey Dunne, Gene Pride and Ivelin Spasov, of CBRE’s Institutional Properties, represented TGM Associates in the sale of Village at Stamford, a 160-unit class A multifamily community to The Silverman Group for $45 million.
Built in 2001, Village at Stamford is located in the heart of the Stamford CBD that over the past decade has emerged as the most dynamic and relevant market between New York and Boston. The vibrant community offers an unmatched quality of life in the New York suburbs with coastal recreation on Long Island Sound, eclectic dining options including over 80 restaurants in the downtown alone and pedestrian friendly regional mass transit providing access to major employers in Stamford, Greenwich and New York City.
Dunne said, “We are pleased to have represented TGM Associates in the sale of this exceptional asset that enjoys a superb location. Stamford has developed into a true 24/7 community and continues to improve as over 3,500 apartments have been built since 2009 and approximately 800 are currently under construction. In what is a national trend, renters today are drawn to urban centers and the appeal of live/work/play environments, which is evident by the steady flow of new residents locating to Stamford. Further, employers recognize the value of locating in the midst of the highly educated employment base that is found in lower Fairfield County. Headline producing relocations or expansion like Starwood Hotels, Vineyard Vines, NBS Sports, Kayak and Indeed demonstrate the workplace shift that is occurring as companies adopt to the knowledge based economy and the millennial live/work patterns. With increasing frequency, this requires employers to find locations, like Stamford, that are attractive and easily accessible to young workers.”