New Haven, CT National Multifamily brokered the sale of a four-unit apartment building located at 1346 State St. to a New York-based investor for $510,000 ($127,500 per unit). The deal closed on October 31^st. Company president Matt Cawley represented the seller in the transaction.

The property at 1346 State St. was a four-unit mixed-use building featuring three fully-renovated apartments (2 two-bedrooms and 1 three-bedroom) and one retail unit across 3,817 s/f. Built around 1900, it includes a backyard, a pitched asphalt shingle roof, and a mix of central and individual heating systems. Recent upgrades include full apartment renovations, basement plumbing and electrical work, and a new water meter.

Cawley said, “We are pleased to have represented the seller who had completed a full renovation of the building when they purchased the property in 2022. Our marketing generated a full-price offer. Over the course of the deal we worked through and negotiated a small credit for tenant buyouts, environmental items, structural, and title issues. We look forward to what the buyer has in store for the property.”

National Multifamily was founded by Cawley in 2022. Headquartered in Rye Brook, N.Y. the company focuses exclusively on the sale of multifamily and mixed-use properties. While the company has grown in geographic reach, Cawley continues to be one of the top multifamily brokers in Connecticut.

With a primary focus in the states of New York and Connecticut, the company is additionally licensed in the states of New Jersey, Massachusetts, Rhode Island, New Hampshire, Pennsylvania, Colorado, Georgia, South Carolina, North Carolina, & Florida.