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532 Newfield Street, Middletown, CT

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532 Newfield Street

Middletown, CT 06457-1855 - Cromwell/Middletown MF Submarket


Property Type:Multi-Family Number of Units:396 Status:Proposed Year Built:2019
Stories:3 Building Size:465,490 SF Land Area:40 AC (1,742,400 SF)
For Sale Price:$68,981,000 Price/Unit:$174,194.44 Cap Rate:7.43 % GRM:-

Parking:1.27 Parking Spaces / 1,000 SF



Sale Notes:
Newfield Apartments 396 Units For Sale Or JV 1031

Newfield Apartments consists of 45 acres approved for 396-unit luxury, garden-style apartments in 16 buildings, a heated swimming pool and clubhouse.

Unit Mix: The Property consists of 396 units, of which 174 units (44%) are one bedroom units and 222 units (56%) are two-bedroom units.

Parking: Surface parking spaces (1.5 spaces per unit)

1031 Tax Free Exchange Considered.

LOCATION HIGHLIGHTS
Twenty Minutes from Downtown Hartford, Thirty Minutes to New Haven
Convenient to Connecticut State Route 9, Interstate 91 and Interstate 84
Fronting on Route 3 with 28,900 Average Daily Traffic Count
Nominal Competitive Life-Style Renter Options
Approximately two Hours to New York and Boston
Close to Conveniences, Major Retail Centers, Middlesex Hospital and Wesleyan University


Landmark Investment Group
Glenn Russo
(860) 613-0751 x106




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