The City Trust Collection, a full-block, mixed-use apartment property in downtown Bridgeport, has sold after 17 months on the market, for $21.5 million, according to a broker involved in the deal.
Shelton-based Northeast Private Client Group announced the sale of the property, at at 955 Main St., with Managing Director Brad Balletto and Vice President of Investments Rich Edwards representing the seller and procuring the buyer.Â
The buyer has not been disclosed, and the deal has not yet shown up in land records. Time Equities Inc., a New York-based national real estate investor, was the seller. The property last sold for $13.5 million in January 2019, property records show.Â
The 12-story historic bank building, near Hartford HealthCare Amphitheater and Total Mortgage Arena, consists of 117 market-rate apartment units, with average residential rents projected at $1,989 a month when it hit the market. The property also includes 42,238 square feet of commercial space and a 240-space parking garage.
The property has an appraised value of $18.9 million with the city, records show.Â
