Castle Place Townhomes, a six-unit residential development in Fairfield, has sold for $2.6 million.
Based at 241-251 Castle Ave., the units were constructed in 2007 and encompass 1,856 square feet with three bedrooms, two-and-a-half bathrooms and two-car garages.
The Metro North Investment Sales Team of Northeast Private Client Group (NEPCG) represented the seller, Castle Place LLC, and procured the buyer, Green Olive Property Management LLC.
“This was an extremely competitive bidding process, with a several strong offers from both local and out of state investors,” said Jeff Wright, NEPCG senior associate. “We attribute the competitiveness to the high demand for quality multi-family assets on the I-95 corridor, particularly in Fairfield County. We had multiple non-contingent offers, and ultimately, the property was sold to a New Haven County investor in a 1031 exchange who was able to close in all cash within 30 days.”