Witten and Nolletti of Marcus & Millichap broker $10.2 million sale of Edgewater Tower Apartments

Steve Witten and Victor Nolletti of New Haven-based Marcus & Millichap Real Estate Investment Services were the sole brokers in the sale of Edgewater Tower, a 107-unit direct waterfront high rise multifamily community for $10.2 million. Edgewater Tower Apartments is a 12-story high rise apartment community that contains 107 residential luxury units with a two-level parking garage, large pool with terrace, prestressed concrete construction, average unit size over 1,150 s/f and an exceptional location. The complex is located in the east central portion of the city along Long Island Sound with access to I-95 and I-91. The community consists of 15 one-bedroom units with one bath (760 s/f), 12 two-bedroom units with den and two full baths (1,712 s/f), 70 two-bedroom units with two baths (1,128 s/f) and 10 large two-bedroom units with two baths (1,241 s/f). The seller was Edgewater Towers Associates. The buyer is Par Edgewater Owner LLC which was represented in the transaction by Mitchell Jaffe of Brenner, Saltzman & Wallman LLP based in New Haven.