180 North Water Street

Property

The apartments located at 180 North Water Street, Greenwich CT is comprised of 3 units (1-two bedroom, 1-three bedroom, and 1-duplex four bedroom) totaling 3,838 rentable square feet in one-four story building built in 1920. Situated on a 0.14 acre lot, the building has off-street parking spaces, a two car garage structure rentable as three additional storages spaces, and a fire pit for the tenants overlooking the Byram River.  All units were fully renovated in 2022/2023, have in-unit laundry, and individual heating systems.

Strategy

Matt Cawley of National Multifamily procured the buyer in the sale of 180 N. Water St.  The buyer was about to be under a 1031 exchange when he reached out to Matt Cawley of National Multifamily for their expertise in assisting buyers execute a 1031 into a multifamily or mixed-use property in Fairfield County. Through Matt’s extensive tracking of all multifamily and mixed-use properties in Fairfield County and by successfully executing a direct mail campaign specifically for the buyer, Matt was able to line up a number of properties for the buyer to review.  The subject property was listed by Pamela Franklin of Houlihan Lawrence who represented the seller.

Result

Matt Cawley of National Multifamily was able to organize the financials, tours, and offers for multiple on and off-market deals across Fairfield County for the buyer to review for his 1031 exchange.  The buyer successfully completed their 1031 and ended up selecting 180 N Water St and an additional asset in Bridgeport to complete their exchange and add to their holdings in the area.  The deal was sold in an all-cash, as-is transaction and closed on November 17, 2023.