Four New Haven properties have changed hands in a series of recent investment sales totaling $4.3 million that were brokered by Shelton-based Northeast Private Client Group.
A Fairfield buyer acquired 127-129 Howe St., an eight-unit multifamily property, from PK&R LLC of Connecticut for $1.05 million, or $122,500 per unit. The cap rate is 4.3 percent on current net operating income.
A Norwalk buyer paid $1.025 million on Feb. 12 for the 12-unit Grand Avenue Apartments, or $85,526 per unit. The seller was Bridgeport-based Navarino Capital.
New Haven-based NHR Properties sold the 16-unit 456 Lombard St. to a Norwalk buyer for $1.36 million, or $85,000 per unit, with a cap rate of 8.2 percent.
And The Kempner Corp. of White Plains, New York acquired 36-68 Lyon St. on Feb. 16 for $950,000, or $158,000 per unit and a 9.2-percent cap rate.
Northeast Private Client Group Managing Director Edward Jordan, Regional Manager Bradley Balletto, Investment Associate Rich Edwards and Licensed Associate Jeff Wright represented the sellers and sourced the buyers.
“New Haven multifamily and mixed-use assets are trading on strong occupancy and rent growth,” Balletto said in a statement. “Our multistate brokerage platform benefits sellers and buyers alike and results in successful transactions for all parties.”
Along with its main office in Shelton, Northeast Private Client Group has offices in Newton, Massachusetts and White Plains.