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June 25, 2019Cart
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Business

by Fairfield County Business Journal
by FCBJ

225 Taft Ave. in Bridgeport sells for $3.7M

225 Taft Ave.

Bridgeport’s 225 Taft Ave., a 20-unit property net leased to Sacred Heart University as off-campus student housing, has been sold for $3.7 million.

The building, which is known as Taft Commons, has approximately 110 beds. The purchase price equates to $185,000 per unit, or $33,636 per bed. It was sold by New Jersey-based 225 Taft LLC to an unnamed New York-based investor. Matt Cawley, senior director of the New York office of United Multi Family, and Chris Tichio, vice president of leasing at Alexander Summer LLC, brokered the transaction.

“We are pleased to have worked with Chris Tichio to sell Taft Commons in an off-market transaction,” Cawley said. “This sale shows the continued interest in the Bridgeport market from outside investors. This sale marks the 25th building United Multi Family has sold in the city of Bridgeport alone since 2016.”