A Shelton-based real estate group has sold a multi-unit residential building in Norwalk for $2.195 million.
The Apartments at Glenwood, a 10-unit building at 38-40 Glenwood Ave., Norwalk, was sold by Pak Holdings LLC, of Rhode Island, and principal Adam Kurzer, to New Haven-based Jay Glenwood LLC and principal Yoseph Katz for $2.195 million, according to city records.
The building features eight 2-bedroom townhomes and two 1-bedroom apartments.
Northeast Private Client Group senior associates Rich Edwards and Jeff Wright, along with associate Patrick Hegarty, represented the seller and procured the buyer for the investment property.
The apartments feature private entrances, in-unit laundry, central A/C, basements, garages, screened porches and wooden decks.
The property is located between the South Norwalk and Spring Hill neighborhoods, just off Route 1 and less than one minute from Interstate 95.
Edwards said the apartments have been under the same ownership since 2005, and are “very well maintained,” but “the buyer plans to implement an apartment renovation program to achieve rental premiums resulting in over $100,000 in additional annual rental revenue.”
Northeast specializes in mid-market mixed-use, retail, and multifamily real estate, representing investors, property owners and real estate investors.
Contact Hanna at hgambini@hartfordbusiness.com.
