Kempner Properties acquires Stamford multifamily building for $3.45M

Kempner Properties, a White Plains-based commercial real estate owner and manager of shopping centers and multifamily buildings, has purchased a multifamily property in Stamford for $3.45 million.

The 18,908-square-foot property at 470 Glenbrook Road in the Glenbrook neighborhood on the eastern edge of Stamford bordering Darien was built in 1965 and features 19 rental units comprised of one and two bedrooms; the site also includes 19 outdoor parking spaces. Kempner Properties plans to renovate the apartments with new fixtures, lighting, appliances, flooring and paint.

“Our plan is to perform renovations to the apartments, common areas, improved landscaping, as well as the overall curbside appeal of the property,” said Doug Kempner, owner and principal at Kempner Properties. “We look forward to offering the Glenbrook neighborhood a new and refreshed place to live.”

Jeff Kravet of Kravet Realty represented the seller, Charles Garufi, in the transaction.

Kempner Properties also announced the purchase of a 24-unit residential building in Hudson, New York, for $2.35 million. The 28,000-square-foot property at 310 Route 66 was built in 1976 and features 24 two-bedroom rental units with 24 outdoor parking spaces. The company plans to rebrand the property as Hudson Gardens and will renovate the building’s apartments, common areas and make exterior improvements to the building.

Even Rugen of Boweryboi represented the undisclosed seller.