3 Chinmoy Avenue

National Multifamily is pleased to have sold 3 Chinmoy Avenue, a 0.21 acre lot approved for the development of 2 townhomes in the Byram neighborhood of Greenwich, CT.

Property

The property was a 0.21 acre cleared located on Chinmoy Avenue, a dead-end street in the Byram neighborhood.  The owner had approvals in place to construct two townhomes on the site from the Greenwich Planning and Zoning Department.  Each approved townhome consisted of 4 bedrooms and 3.5 baths.  The total Gross Floor Area of the combined structures was 6,217 SF.

Strategy

Matt Cawley of National Multifamily had recently sold several existing multifamily deals in the Byram neighborhood of Greenwich and connected with the owner of 3 Chinmoy Ave.  The owner showed interest in completing an off-market deal rather than developing the property themselves.  Matt was able to identify a New York based developer actively looking to deploy capital in the Connecticut market for the first time.  While the buyer was under a 1031 exchange, Matt helped educate them on the Greenwich market by walking through recent townhome condominium sales and comparable land transactions in the Byram neighborhood.

Result

Matt was able to secure an offer and execute a deal entirely off-market, delivering a clean outcome for the seller while successfully introducing a New York developer to the Connecticut market for the first time.  The results of the successful deal included:

1) The deal was completed entirely off market with a single tour and a single offer

2) A New York-based developer was brought into the Connecticut market for the first time through a 1031 exchange

3) Building permits were delivered at closing, allowing the buyer to commence construction immediately

4) The approved plans and permits for two townhomes transferred with the lot, preserving the full development value for the buyer.

Matt Cawley of National Multifamily represented the seller and procured the buyer off-market.  The deal closed on April 3rd, 2026.