FOR IMMEDIATE RELEASE
Steven Calcagni, President of Calcagni Associates, New Haven County’s leading independent real estate firm, is pleased to announce the recent sale of two large student housing projects totaling in a sale price of $17 million.
The just completed 36 two and three-bedroom townhome units located at 62 Chestnut Street in Danbury, CT, provide housing for Western Connecticut State University students. The fully furnished units feature a two-car garage, two additional parking spaces and are leased on a 12- month basis. The second project is located on Eckart Street in Bridgeport, CT and is less than a mile from Sacred Heart University. The building consists of 44 three-bedroom units providing housing for 176 students on twelve- month leases.The cash flow from the projects, quality of construction and 98% occupancy made these two complexes an excellent investment. Calcagni Associates’ commercial division represented the buyer in both transactions. The sellers of the projects, 51 Sound Apartments LLC and 62 Sound Apartments LLC, were represented by Michael Freda of the Freda Financial Group.
“Right now is an exciting time for Calcagni Associates” commented Steven Calcagni. “We see tremendous growth potential in the commercial market in many areas throughout Connecticut.”
Calcagni Associates Real Estate is a fully diversified real estate agency offering residential properties, new construction, land consulting and commercial properties. Calcagni has four offices—Cheshire, Hamden, Wallingford and Southington. All offices provide a range of real estate services including market analysis, appraisals, residential foreclosures and relocation services. Learn more at Calcagni.com and Facebook.com/CalcagniAssociates