February 24, 2017 Comments Off on Stamford Apartments Sell Before Stabilization Views: 303 New York News, Tri-State Area New York

Stamford Apartments Sell Before Stabilization

A joint venture paid $67.5 million for a new luxury apartment building at 66 Summer St. in downtown Stamford, CT. Trinity Financial developed the 209 apartments, which were still leasing as the deal closed. That adds up to more than $300,000 per unit.

Rents at 66 Summer St. range from $1,899 for some studio units to $3,240 for certain two-bedroom apartments, according to the building’s website.

The buyers, a joint venture between The Kabr Group and Ceruzzi Properties, took out an eight-year, Freddie Mac fixed-rate loan to complete their purchase.

Read More at the Stamford Advocate

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