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Northeast Private Client Group® Facilitates the Sale of Six (6) Multifamily Apartment Properties for $34,600,000

Northeast Private Client Group® (NPCG) has announced the sale of Broadway Living & The Elm in New Haven, CT.

Senior VP, Investments Brad Balletto, along with Senior Associates Jeff Wright and Rich Edwards recently brokered the sale of a 145-unit, 100% market-rate Multifamily Apartment Portfolio in New Haven, Connecticut.

Broadway Living has 101 total units in five (5) residential buildings.

  1. 100 Howe Street is an 84-unit brick building with studio apartments, a fitness center, renovated lobby, bike storage, a solar array on the roof, and completely updated electrical service. The owner has provided gas-fired steam heat within the last three years, and tenants are responsible for electricity.
  • 98 Howe Street is a six (6) family brick building with modestly updated apartments; tenants are responsible for electricity and gas-fired heat.
  • 94 Howe Street is a six (6) family brick building with modestly updated apartments; tenants are responsible for electricity and gas-fired heat.
  • 61 Edgewood Avenue is a two (2) family building initially located on New Haven’s center green. It moved to its current location with two (2) townhouse-style apartments; tenants pay individual gas and electricity.
  • 65 Edgewood Avenue is a three (3) family building with expansive three (3) and four (4)-bedroom apartments. 

The Elm is a multifamily property that had construction completed in 2021. It has well-designed kitchens with hard surface counters and stainless appliances. There is also a full-sized in-unit vented washer and dryer, complete key-fob access, package room, 24-hour fitness center, rooftop lounge, picnic area, and enclosed dog run: co-working spaces and study nooks. There is an on-site covered parking and bike storage: ductless mini-split heat and central air conditioning. Select units have outstanding views of downtown New Haven’s skyline or West Rock State Park, which can also be enjoyed from the rooftop terrace with outdoor television.

“I am extremely grateful for the opportunity to have facilitated this transaction for buyer and seller clients that I would genuinely consider friends. Congratulations on both sides and looking forward to working with both in the future.” – Brad Balletto, Senior VP, Investments

Northeast Private Client Group® specializes in mixed-use, retail, and multifamily real estate, exclusively representing investors, property owners, and professional real estate investors. To date, more than 1000 successful transactions have been completed totaling over $3 billion in value within local submarkets around the Northeast and Southeast regions of the United States.

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