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Marquis on the River Sells for $6.8M

RMS Cos Divests 18 Units in Norwalk
April 21, 2015
Property Income Advisors, Inc. acquired the Marquis on the River condo building at 142 East Ave. A in Norwalk, CT from RMS Companies for $6.78 million, or about $376,000 per unit.

The 35,000-sqaure-foot building consists of 18 residential condos above one commercial space. It was built in 2008 on the Norwalk River waterfront.

The owner will rent all units individually as apartments following the transaction, and has retained Commons Management of Westport, CT as the property manager.

Al Mirin and Kate Schwartz of Cushman & Wakefield, Inc. in Stamford represented the seller. The buyer handled the sale in-house.

For more information regarding this transaction, please see CoStar COMPS #3255974.
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