The Real Deal New York

Spring Valley-based investment group buys 28-unit Stamford apartment building for $4.8M

February 20, 2019 03:38PM

A Rockland County investment group is buying a Stamford apartment complex for $4.8 million, the Fairfield Business Journal reported. Dash Properties is selling the 28-unit complex to Spring Valley-based Capital Realty Group, which plans to “complete extensive capital improvements throughout the property,” according to the outlet. The complex is part of a Housing Assistance Payments Contract, which means federal and local approvals were needed to complete the sale. United Multi Family Corp. Senior Director Matt Cawley, who represented Dash Properties, said Capital Realty Group was “attracted to the deal based on the building’s affordable status and its excellent location in proximity to downtown Stamford.” [FBJ]