Marx Realty Sells Greenwich Mixed-Use Asset for $5M
Marx Realty has sold 1381 East Putnam Avenue, a mixed-use building in Greenwich, CT., for $5.1 million. The buyer is a private investor based in Stamford, CT.
The boutique Class A mixed-use retail and multifamily asset, was constructed in 2016, the building features four luxury apartments and two ground-floor retail suites. It boasts full occupancy, with retail tenants Club Pilates and Estate Treasures of Greenwich offering an average lease term of approximately seven years.
Jeffrey Dunne, David Gavin, Stuart MacKenzie, Travis Langer and Daniel Blumenkrantz of CBRE’s Institutional Properties Group represented the seller and procured the buyer. “1381 East Putnam Avenue represented a unique opportunity to acquire a recently redeveloped, mixed-use property with stable income in one of the most prestigious markets in the country.” said Gavin.
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