Stamford apartment building fetches $78M in city’s largest multifamily sale this year
San Francisco-based Friedkin Realty Group purchased an apartment building in Stamford from Norwalk-based Fuller Development LLC and Spinnaker Real Estate Partners for $78 million — the largest multifamily sale in the city so far this year, The Hour reported. CBRE brokered the deal for Element One, the 183-unit building which opened on Morgan Street around two years ago, according to the outlet. “We really liked the construction and design,” Friedkin Realty Chairman Morton Friedkin told the outlet. “Combined with the recently added townhouses, it makes for a very balanced property.” Friedkin also owns two apartment complexes in Danbury. [The Hour]
Dobbs Ferry developer proposes luxury hotel in New Rochelle
A Dobbs Ferry developer wants to bring a 24-story hotel to New Rochelle, LoHud reported. WARD Capital Management’s TRYP by Wyndham hotel would rise at 115 Cedar Street, near I-95, and have around 225 rooms, a rooftop pool, a parking garage, according to the outlet. New Rochelle already has a Radisson and a Residence Inn by Marriott, as well as the V Hotel, which is currently under construction. “We’re excited about bringing a luxury hotel to the City of New Rochelle,” Managing Partner and CEO D’Wayne Prieto said, adding that the hotel would be an “urban resort.” [LoHud]
Bridgeport construction projects to get $14.8M in state bond funding
A handful of construction projects in Bridgeport are getting a total of $14.8 million in state bond funding, the Fairfield County Business Journal reported. The cash will cover designs for improvements to I-95 exits 27A and 19, in addition to the exterior restoration of City Hall, improvements to Crescent Crossing housing development and more. The State Bond Commission is slated to approve the funding this week. [FBJ]
Buyer snaps up five floors of space in Norwalk office building
Hanover Norwalk Investors LLC, an affiliate of Greenwich-based Hanover Real Estate Partners, has scooped up five floors in a Norwalk office building, the Fairfield County Business Journal reported. Matrix Norwalk LLC sold the 179,292 square feet at 535 Connecticut Avenue for an undisclosed price. The sale was “the largest acquisition of Class A office space in Norwalk — and one of the largest in Fairfield County — this year,” according to the outlet. The building’s tenants include UBM, Crius and Belvoir, and it is currently 74 percent leased. Avison Young had the listing. [FBJ]
Energy service provider signs 12-year lease for two buildings, one lot in Port Chester
Robison Oil has signed a 12-year lease for two buildings and a parking and storage lot in Port Chester, the Westchester County Business Journal reported. The energy service provider plans to move into a 16,400-square-foot industrial building and a 2,750-square-foot warehouse building on Ryan Avenue. The parking and storage lot is 35,000 square feet, according to the outlet. “We have been searching for this type of property on Robison’s behalf for quite some time in order for its oil and biofuel operations to be located closer to the Purdy Avenue oil terminal and to strategically consolidate its various leased locations throughout Westchester,” GHP Office Realty LLC executive vice president Jamie Schwartz said. Before Robison Oil signed the lease, Verizon used the property for trucks and storage, the outlet reported. [WBJ]