Luxury Norwalk community trades for $53M

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JLL Capital Markets announced it has closed the $53 million sale of The Sheffield SoNo, a 136-unit, luxury, transit-oriented apartment building with ground-floor office space located along the waterfront in Norwalk, Connecticut.

JLL marketed the property on behalf of the seller, Avenue Realty Capital and Spirit Investment Partners. The buyer was not disclosed.

Completed in 2007, The Sheffield SoNo features luxury apartments with high-end finishes, private balconies in select units and direct water views from most units. Amenities include a 24-hour fitness club, outdoor grilling area, resident clubhouse, heated swimming pool, ButterflyMX Entry System, package concierge service, underground parking garage and bike storage.

The Sheffield SoNo is at 55 and 77 North Water St. in a transit-oriented location less than a mile to the South Norwalk train station, which provides access to Midtown Manhattan in 70 minutes and downtown Stamford in 15 minutes. The property is also less than half a mile from Interstate 95 and proximate to the Maritime Aquarium, one of the largest attractions in Connecticut.

The JLL Capital Markets team representing the sellers
was led by Senior Managing Director Jose Cruz, Senior Directors Steve Simonelli
and Michael Oliver, Senior Managing Director Kevin O’Hearn, Executive Managing
Director Drew Saunders and Associate Nicholas Stefans.

“We continue to see increasing demand from the
investment community for well-located suburban Fairfield County properties,” Simonelli
said. “The unique waterfront location and high quality of the asset were well
received by both institutional and private investors.”

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