New York & Tri-State + Fairfield/Westchester + Apartments | June 8, 2021

Ariel in $35 Million Sale of Brox Development Site

IPA Closes Sale of Apartments Near Stamford CBD

Institutional Property Advisors (IPA), a division of Marcus & Millichap, recently closed the sale of Hoyt Bedford, a 350-unit apartment complex in Stamford, CT. Terms of the sale weren’t disclosed.

“Hoyt Bedford is a 100% market-rate, legacy asset located on the edge of Stamford’s central business district,” said Victor Nolletti, IPA executive managing director. “Just a short walk from Bedford Street Restaurant Row, Columbus Park and all that Stamford has to offer, the property is a well-maintained apartment home community and an outstanding value-add opportunity.”

Nolletti, IPA’s Eric Pentore and Wes Klockner represented the seller, Stamford Apartment Company LLC, and procured the buyer, Hoyt Bedford LP, with Marcus & Millichap’s Andrew Daitch.

Marcus & Millichap’s Matthew Kurzmann, Steven Miscavish, Seth Barnett, Tyler Martin, Gerson Askenazy, Neil Rosenthal and Alyssa Van Hyfte also provided representation. John Krueger is Marcus & Millichap’s broker of record in Connecticut.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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