Belpointe sells Baypointe in one of Stamford’s top trades of 2019

A limited liability company linked to Greenwich-based investment firm Belpointe sold an apartment complex in Stamford last week to another Greenwich-based LLC for $50 million, the Stamford Advocate reported. Belpointe developed the 109-unit complex known as the Baypointe, which houses one-bedroom apartments with rents ranging from $2,960 to $3,340 and two-bedroom apartments with rents between $3,100 and $5,900. The anonymous buyer is Baypointe 112 LLC. “The property was not on the market, but I thought this would be a nice match between the buyer and seller,” the broker, Robert Harris of Stamford-based Robert Harris Properties, told the Advocate, calling it a “tremendous property in a great neighborhood.” The sale is one of the largest in Stamford so far this year, coming only a few weeks after the RBS Building sold for $163 million to Rubenstein Partners. The Real Deal profiled Belpointe, which launched an Opportunity Zone fund earlier this year, in its recent Tri-State issue. [Stamford Advocate]