Marcus & Millichap Real Estate Investment Services has brokered the sale of a 12-unit apartment property for $960,000, according to J.D. Parker, vice president and regional manager. Gary Witten, vice president of investments in Marcus & Millichap's New Haven office, was the exclusive listing agent for the seller, 143½ South Main St. LLC, and the sole broker in the sale.
The garden style apartment complex is located at 143½ South Main St. in Fairfield County. The brick building was built in 1970 and situated on an .18 acre parcel. The unit mix consists of six one-bedroom units and six two-bedroom units. The property is located within a short distance to the upscale SONO area, and with nearby access to I-95 and Rte. 7. The Norwalk market continues to draw strong interest especially because of the proximity to Stamford. The property was full at closing.
The seller was represented by its attorney, Stan Dombroski of Dombroski Hillis LLC of New Haven. The buyer, a Connecticut based investment group and Edward Gormbley of The Management Group, were represented by Staci Bachman of Cohn Birnbaum & Shea P.C. from Hartford.
"The property attracted significant investor interest and resulted in multiple offers. The sale and activity level demonstrates that properties in desirable markets, such as Fairfield County, are highly sought by buyers and that investors are aggressively returning to the market," said Witten.½ South Main Street, Norwalk, CT