Connecticut CCIM Chapter Deal of the Month - December, 2024

New Britain, CT The CT CCIM Chapter has named the Deal of the Month.

Eric Amodio, CCIM, of Amodio and Company brokered both sides of the sale of a 56-unit, 6-building multi-family complex located at 15-45 Elam St., for $4.8 million. The transaction closed on November 4, 2024 for $4.8 million.

The complex known as Elam Court was built in 1967, renovated in recent years, and is comprised of all one-bedroom units. The property traded hands for $4.8 million ($85,714/unit). At the time of sale, the property was fully leased yielding 6.3% going-in cap rate with below market rents. Amodio, CCIM, MBA of Amodio & Co. Real Estate represented the seller, Elam Gardens, LLC, as well as sourced the buyer, LYP Management, LLC.