Redwood Realty Advisors is pleased to announce that it has completed the sale of a 5-unit mixed-use asset in Greenwich, Conn. The property sold for $1.95 million and a cap rate of 4.7%. The property consists of one commercial unit, three 2 bedroom / 1 bath units and one 1 bedroom / 1 bath unit, as well as a private backyard.
Located at 140 Hamilton, the building is centrally located in Downtown Greenwich, which is a highly walkable neighborhood in this affluent community that is within easy reach of luxury shops, restaurants and the Greenwich train station. “The Greenwich area is one of the highest income markets in the Northeast. Properties trade at premium levels, and the pricing achieved on this sale is a testament to that fact. We have investors eager to get into that market, and the metrics of the sale for 140 Hamilton Avenue reinforces that,” said Redwood Realty Director Michael Scrima. Redwood Realty’s brokerage team of Michael Scrima, Kevin Scrima, Thomas Gorman, Jr. and Thomas McConnell represented both the buyer and seller in the transaction.
About Redwood Realty Advisors
Redwood Realty Advisors is a brokerage and advisory firm that focuses exclusively on multifamily assets. Our team is composed of experienced senior advisors who have proven results in the multifamily investment sector. We pride ourselves on providing our institutional and private clients with our extensive industry experience, hands-on involvement with every transaction, market knowledge and market leading underwriting. For more information on Redwood Realty Advisors, please visit us at www.redwoodrealtyadvisors.com.