The Bridgeport multifamily development 225 Taft Ave. that has been used for student housing was sold to an unidentified local investor for $3.2 million following a two-day online auction conducted by United Multi Family and Ten-X Commercial Real Estate.
Matt Cawley, senior director at United Multi Family, represented the seller, Thousand Keys Realty LLC, in the transaction and observed that the online auction was a “highly contested bidding process, with over 240 signed CA”™s, 50 private property tours, and 15 approved auction bidders. Within two hours of the conclusion of the two-day auction we had an All-Cash, As-Is Sales contract signed by the winning bidder.”