A five-unit multifamily property in Norwalk, Connecticut, that was constructed in 1900 has been sold for $1.7 million, or $342,000 per unit.
The three-story property at 2 Park Street encompasses four oversized one-bedroom units and one oversized loft studio totaling 4,136 rentable square feet. The property is set on a .22-acre site and has an-off street parking lot with 10 designated parking spaces.
National Multifamily Corp. President Matt Cawley represented the seller, BPC Capital Management LLC, and procured the buyer, BBB Investors LLC.
“We are pleased to have represented the seller who had meticulously renovated the property in 2017,” said Cawley. “The owners’ top-notch renovations combined with our marketing pushed
the pricing boundaries with the deal closing as one of the highest price per unit and the highest price per square foot recorded for a multifamily property in Norwalk. The building will fit nicely in the buyer’s portfolio as they already own multiple properties nearby.”
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