251 Mill St - Apartments FOR SALE


Greenwich, CT 06830
$2,900,000 USD
212-851-6314
251 Mill St, Greenwich, CT for Sale
$2,900,000 USD
Apartments - FOR SALE
1/32
null | Request Cap Rate

251 Mill St
Greenwich, CT 06830


OVERVIEW

251 Mill Street is a great opportunity for a value add for those looking to enhance their portfolios with high end “Legacy” properties. This 6097 square foot mixed use building is located on a busy retail corridor of Greenwich, which boasts the lowest taxes in the state. The building is currently configured as 5 apartments and 2 retail stores. There are no leases to ensure the next owner’s maximum flexibility in usage as Greenwich is home to 13 Billionaires and countless hedge funds and corporate headquarters; the uses are endless. This Greenwich “Grand Dame” has been meticulously restored to her original mansion grandeur. A Coat-of-Arms adorns the Romanesque entranceway, and this historic façade features double bowfront windows and decorative moldings and lintels. Landmark features include new windows, center hall skylight, Tiffany-style transoms, Tiffany-style and Ralph Lauren light fixtures, solid oak floors throughout, new wide solid oak staircases, plaster moldings to high ceilings, custom built-ins, decorative doors and hardware. All 5 apartments have new stone kitchens with Italian lacquered cabinetry and Chef’s level appliances such as Bosch, KitchenAid, Jennaire, Fisher & Paykel and Bespoke glass. All but one apartment has washer/dryers and dishwashers. All 5 apartments have new marble bathrooms with seamless glass shower doors, Kohler fixtures, medicine cabinets and Toto toilets. The electric system was upgraded in 2022. Each apartment and store is separately metered. The retail stores continue to be occupied by two high end Greenwich uses: Alternative Hair Solutions sells and maintains custom cancer wigs and Children’s Classy Cuts, providing kid’s haircuts to the prince and princesses of Greenwich. Every aspect has been enhanced so as to enrich all historic details of this important Greenwich mansion. This is a must see for anyone looking for entitled real estate. Invest in Greenwich, where “Billionaire” is not a dirty word. Brokers protected.

FOR SALE DETAILS

PRICE

$2,900,000 USD

PRICE/SF

$476 USD /SF

# OF UNITS

7

PRICE/UNIT

$414,286

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Greenwich Mansion with 5 Apt / 2 Retail Store

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1908

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.08 AC

LAND SF

3,311 SF

ZONING

LBR-2

APN/PARCEL ID

GREE-000004-000000-001536-S000000

ASK ABOUT THIS PROPERTY

Andrew ShapiroMillenium Brothers, LLCMore Info
212-851-6314

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Andrew ShapiroMillenium Brothers, LLCMore Info
212-851-6314

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.