Greenwich, CT Thomas Torelli of Allied Property Group completed two sales totaling $8.55 million. The sales included the following:
• In the forth quarter of 2017 Allied Property Group sold a mixed-use building which included a hair dresser and the Old Greenwich Branch offices of Coldwell Banker Real Estate at 272 Sound Beach Ave. to 272-278 Sound Beach Avenue LLC for $2 million. The 4,800 s/f building also include one large apartment. Torelli was the sole broker on this transaction.
• In the first quarter of this year Allied Property Group sold a mixed-use building to Winter HPG 171 Greenwich LLC a 3-story building at 171-173 Greenwich Ave. for $6.55 million. The property consisted of a 3,700 s/f store leased to Club Monaco (a division of Ralph Lauren) and four apartments. Matt Torrance of Cushman & Wakefield's Stamford office represented the buyer and Torelli of Allied Property Group represented the seller.
Supply chain delays are slowing construction, ratcheting up operating costs, and extending turnover timelines across Greater Boston, directly reducing revenue and increasing the workload for multifamily and