The office property 53 Forest Ave. in Greenwich was sold for $15.5 million.
Built in 1989, the 43,985-square-foot building is 82% leased and situated directly adjacent to the Old Greenwich Train Station. Nearly all of the tenants have leased space at the property since 2020, contradicting the pandemic-era work-from-home trend.
CBRE”™s Institutional Properties Group represented the owner, Collins 53 Forest LLC, an entity managed by Collins Capital Partners LLC, in the sale and also procured the buyer, HBN 53 Forest LLC, which is managed by HB Nitkin, a regional commercial real estate owner.
“53 Forest provides tenants a high-quality alternative to Greenwich Avenue, where rents easily exceed $100 per sq. ft.,” said Jeffrey Dunne, a CBRE vice chairman.
