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August 18, 2019Cart

Business

by Fairfield County Business Journal
by FCBJ

TD Bank property in Darien sells for $6.9 million

A Darien property leased long-term to TD Bank has been sold for $6.9 million.

TD Bank on Boston Post road in Darien. Image via Google maps

According to Brokers & Engineers, which represented Cos Cob-based seller Chimblo Family Real Estate, the 4,380-square-foot site at 55 Boston Post Road was sold to a 1031 exchanger. Named for Internal Revenue Code 1031, such a designation allows an investor to sell a property, to reinvest the proceeds in a new property and to defer all capital gain taxes.

The TD Bank lease has about seven years remaining, according to Brokers & Engineers.