FOR IMMEDIATE RELEASE
July 7, 2019
CLOSING ANNOUNCEMENT: Amodio & Co Trades 39-Unit Mixed Use Deal in New Britain, CT – $2,307,500, 5.6% Cap
Eric Amodio, CCIM, MBA of Amodio & Co exclusively represented Main Street Holdings, LLC in the sale of 292-300 Main Street, New Britain, CT. The five-story 39-unit mixed use property is comprised of 35 residential apartments and 4 commercial retail storefronts. The deal also transacted with approvals in place for construction of an additional 18 apartment units in the currently vacant second floor and first floor rear. The property transacted for $2,307,500, or 5.6% cap rate on existing NOI. The new owners are encouraged by the systemic improvements happening in New Britain and look forward to adding 18 additional new units to the rent roll, amongst other upgrades.
Amodio & Co. Real Estate is a boutique commercial real estate firm, handling all aspects of real estate including brokerage, development, and management of commercial property in Connecticut.
For further information, please contact Eric Amodio, CCIM, MBA of Amodio & Co. Real Estate via email at firstname.lastname@example.org or telephone 860.674.8908.