November 15, 2018 Comments Off on Coastal CT Apartments Trade for $42M Views: 2582 New York News, Tri-State Area New York

Coastal CT Apartments Trade for $42M

CBRE has finalized the $42.5-million sale of Post & Main, a 186-unit residential property in Old Saybrook, CT. The rental property was completed in 2017.

A team of Jeffrey Dunne (pictured), Simon Butler, Biria St. John, Gene Pride and Eric Apfel advised the owner, GM Saybrook Owner LLC, in the sale. David A. Mack Properties acted as operating member within the LLC. The buyer was Old Saybrook Owner LLC.

“Post & Main is an exceptional asset that is truly unique in the Connecticut Coastal market, given its walkable and transit-oriented location, just steps away from both Old Saybrook’s Main Street and the Metro-North station,” said Dunne. “The property fills a unique niche for residents seeking a luxury lifestyle with interior finishes and fantastic amenities in a transit-oriented location. There is nothing comparable to this along Connecticut’s coastline.”

The CBRE Institutional Properties team is currently marketing other multifamily assets in the region.

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