A Darien investor recently paid $10.69 million for a four-story building in downtown Greenwich featuring office space above ground-floor retail.
In a deed recorded July 2, a limited liability company headed by Jennifer Chen, of Darien, acquired the 17,081-square-foot, brick building at 39 Lewis St. from another LLC tied to Manhattan-based Pine Ridge Advisors, a multifamily firm catering to wealthy investors.
The 1963 vintage building was 100% leased at time of sale, according to a release by CBRE.
Jeffrey Dunne, Steven Bardsley, Travis Langer and Steve Holt of CBRE’s National Office Partners represented the seller. CBRE also precured the buyer.
The property sold at a 6.74% cap rate. It is located less than a block from shops, restaurants and other amenities along Greenwich Avenue.
CBRE reports that high demand has pushed office vacancies in central Greenwich down to about 8%, with rents averaging $110 per square foot.
