Stamford apartment complexes sold for $45M
STAMFORD — Two apartment complexes on the city’s East Side recently sold for a total of about $45 million, highlighting the sustained investor interest in local multifamily housing.
Daycroft Apartments at 0 Blachley Road sold for about $26 million; Hamilton Gardens, at 333 Hamilton Ave., changed hands for about $19 million, according to city property records. The transactions were recorded last week by city officials.
Brooklyn, N.Y.-based Hamilton Daycroft LLC was the buyer of the two properties, according to the records. The firm could not be immediately reached for comment.
A message left for the management of Hamilton Gardens and Daycroft Apartment, which share the same website, was not returned.
The sale of Daycroft Apartments generated about $129,000 in local conveyance taxes and around $196,000 in state conveyance taxes. The sale of Hamilton Gardens produced about $95,000 in local conveyance taxes and approximately $145,000 in state conveyance taxes.
In the online database Vision Appraisal, eight buildings are listed for Daycroft Apartments. All but one has an occupancy of 12, while the other has an occupancy of 24, according to Vision Appraisal.
Vision Appraisal lists four buildings for Hamilton Gardens. There is an occupancy of 24 in two of them, 20 in one structure and 12 in another building, according to the database.
Both properties stand yards from Interstate 95’s Exit 9 — with Hamilton Gardens on the north side of that exit and Daycroft Apartments on the south side.
The two sales continue a busy period of transactions for Stamford’s multifamily housing market. In the city’s largest residential sale of 2021, the downtown Parc Grove apartments were sold for $154 million.
In the city’s second-largest residential sale last year, the 101 Park Place apartment complex in the South End sold for $105 million.
Other major deals in 2021 included the $99 million sale of the Hoyt-Bedford apartments, across the street from the city’s courthouse; the $84 million sale of The Fairfield apartments on the edge of the downtown; and the $73 million sale of the Harbor Landing apartment complex in the city’s Waterside section.