Witten and Balletto of Marcus & Millichap broker $2.7m sale of 20-unit apt. complex

September 02, 2009 - Connecticut
Marcus & Millichap has brokered the sale of 6-8 Hyatt Ave., a 20 unit apartment complex. The sale price was $2.7 million. Gary Witten and Bradley Balletto of Marcus & Millichap's New Haven office were the sole brokers in the transaction. The 6-8 Hyatt Ave. complex contains 17 one-bedroom units and 3 two-bedroom units in three buildings. The property is located on Norwalk's West Side, just north of Connecticut Ave., in close proximity to Norwalk Hospital in a quiet residential neighborhood of single family homes with some small multifamily properties. The units are separately metered, spacious and had recently been renovated. 6-8 Hyatt Ave. offers ample parking, a full basement and on-site laundry. The sale of 6-8 Hyatt Ave. demonstrates that there continues to be demand for quality multifamily investments in strong locations, particularly throughout Fairfield County. The seller, 6-8 Hyatt Avenue Associates LLC, was represented by Paul Taylor of Princeton, N.J., and the buyer, Fairfield Opportunity Investors LLC, was represented by Raymond Rizio of Fairfield.

New England Real Estate Journal • 17 Accord Park Drive #207, Norwell MA 02061 • (781) 878-4540 • Contact