Putnam Green, a 66-unit apartment complex located on West Putnam Ave near Western Middle School and the New York state line with Port Chester. The sale price was $20.7 million. The fee interest sale was arranged by CBRE.
The sellers were PIC Associates. The purchasers were Bedford Realty Executives.
CBRE’s Jeffrey Dunne, Eric Apfel and Travis Langer represented the seller and procured the buyer.
According to ConnectCre, “The $20.7-million sale represents the largest multifamily transaction in Greenwich since the 2012 sale of Milbank Commons.”
Part of the sale included the buy-out of a ground lease.
A neighboring property had owned Putnam Green land through a lease agreement set to expire in September.
Putnam Green was built in 1976. The mix of units includes 28 studios and 38 one-bedroom apartments, 34 of which are two-story, duplex-style units.
The property has 62 surface parking spaces and 12 garage parking spaces.
Units feature oak cabinetry, washers and dryers, and private outdoor patios and private balconies in select units.