Witten and Balletto of Marcus & Millichap sole brokers in $2.7 million sale

Marcus & Millichap completed the sale of 6-8 Hyatt Ave., a 20 unit apartment complex. The sales 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 units are separately metered, spacious and have 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 Ave. Associates LLC, was represented by Paul Taylor of Princeton, NJ, and the buyer, Fairfield Opportunity Investors LLC, was represented by Raymond Rizio of Fairfield. The property is located in the city'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 multi-family properties. Marcus & Millichap is one of the nation's top investment real estate services firms, representing more sellers of investment real estate than any other firm in 2008. Witten is a veteran of Connecticut's multi-family investment market, having been involved in over $300 million in commercial real estate transactions over his career. Balletto is a rising star in the New Haven office, focusing on advising and representing owners of multi-family, office and industrial assets.