A 261-unit Stamford apartment complex sells for $25M

New York /
Apr.April 19, 2018 11:46 AM

The Pine Hill Apartments were bought for $25 million by 125th Strawberry Hill LLC. It’s the largest real estate sale in Stamford since a 261-unit building sold for $67 million in December, according to the Stamford Advocate. Brokers said the high prices aren’t necessarily market indicators. “Constructing residential buildings and the ongoing property maintenance of those buildings are very different,” said Tammy Felenstein of Halstead Real Estate told the Advocate. “Regardless of who owns the buildings, the occupancy rates in all the downtown buildings range from 93 percent to 98 percent. Those percentages say more about the Stamford rental market.” [Stamford Advocate]


Related Articles

arrow_forward_ios
The office space at 99 Church Street  (Google Maps)
Berkeley College selling two downtown White Plains buildings
Berkeley College selling two downtown White Plains buildings
eXp CEO Glenn Sanford and Corofy CEO Eddy Boccara (eXp, Corofy, iStock)
Some like it hot: Influx of agents into Hudson Valley accelerates in September
Some like it hot: Influx of agents into Hudson Valley accelerates in September
Trump Plaza New Rochelle at 175 Huguenot Street and Donald Trump (Getty, Anthony22/Wikimedia)
Trump Plaza New Rochelle dumps Trump Org as property manager
Trump Plaza New Rochelle dumps Trump Org as property manager
Parc Grove apartments, PGIM CEO David Hunt and Pacific Urban Residential CEO Al Pace (Photos via Parc Grove, PGIM, RETCON)
PGIM gets $154M for Stamford apartments as rental market heats up
PGIM gets $154M for Stamford apartments as rental market heats up
Additional reason for the slowdown in contract signings is shrinking inventory, which is likely to make the market even more competitive. (iStock)
As inventory shrinks, suburban NYC home market calms down a bit
As inventory shrinks, suburban NYC home market calms down a bit
Professor Randolph M. McLaughlin ro Newman Ferrara LLP and Aaron Carr of HRI (Getty, Facebook, iStock)
Lawsuit accuses Westchester landlords, brokers of Section 8 discrimination
Lawsuit accuses Westchester landlords, brokers of Section 8 discrimination
Finger and Finger principal Kenneth Finger and landlord activist Jeff Hanley with Westchester (Credit: iStock)
Westchester group lobs its own constitutional challenge to New York’s rent law
Westchester group lobs its own constitutional challenge to New York’s rent law
Lana Zakocela and Justin Etzin in front of their former New Castle home (Credit: Getty, Zillow)
The Seychelles to auction off estate at a discount after diplomat’s divorce
The Seychelles to auction off estate at a discount after diplomat’s divorce
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...