The Hollister Avenue Apartments complex in Bridgeport has sold for $3.05 million, according to property records. Yosef Erlich and Yosef Rawicki, both of New York City and doing business as 217 Hollister LLC, have bought the three-story, 25-unit apartment building, at 217 Hollister Ave. The property contains all one-bedroom apartments. The seller was Jerry Nocerino, […]
The Hollister Avenue Apartments complex in Bridgeport has sold for $3.05 million, according to property records.
Yosef Erlich and Yosef Rawicki, both of New York City and doing business as 217 Hollister LLC, have bought the three-story, 25-unit apartment building, at 217 Hollister Ave.
The property contains all one-bedroom apartments.
The seller was Jerry Nocerino, of Woodbridge, and Charles Smith, of Milford, doing business as Bridgeport Hollister LLC.
Erlich said the building, which was constructed in 1970, “is staying the way it is,” when asked about his plans for the property.
The building and the 0.36-acre parcel it sits on are appraised at $1.28 million and assessed at $896,980. Nocerino and Smith purchased the building for $1.4 million in 2015, property records show.
Brokerage firm Northeast Private Client Group represented the seller in the deal.
The firm in a brochure said that rents at the property are “30% below market with an average rent of $1,090/month, while market comparables prove that a new owner can achieve an average market rent of $1,550+ with light apartment renovations and a more aggressive leasing strategy.”
