For Sale: 210 Unit Multifamily Apartment Complex - Newtown, CT

Highlights:

• 210 total units across seven 3-story buildings
• 168 market-rate and 42 affordable units restricted to 80% AMI for 30 yrs
• Six buildings complete; final building 80% complete
• Amenities: Clubhouse w/ fitness center, community room, adjacent pool.
• Incentive Housing Overlay Zone (IHOZ-10) - 20% afforadable for 30 yrs
• Joint Venture and/or Financing options also considered.
• Sale Subject to Bankruptcy Court Approval

Description:

Covered Bridge Newtown has retained Keen-Summit Capital Partners LLC as its exclusive marketing agent and real estate broker in its Chapter 11 Bankruptcy for the sale of the real property.

The property features 210 total units across seven 3-story buildings (30 units each) with one-, two- and three-bedroom layouts on 21.5 acres. There are 168 market-rate and 42 affordable units restricted to 80% AMI for 30 years. Six buildings are complete and the final building is 80% complete. Amenities include a clubhouse with a fitness center, community room and adjacent pool. The complex is located in an Incentive Housing Overlay Zone (IHOZ-10), requiring 20% of units to remain affordable for 30 years as a condition for the certificate of occupancy and is conveniently located near Exit 9 on I-84. Joint-venture and/or financing offers also considered. Transaction subject to bankruptcy court approval.

www.Keen-CoveredBridgeNewtown.com

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