Mixed-use Greenwich property sells for $5.1M

The mixed-used property at 1381 East Putnam Ave. in Greenwich has sold for $5.1 million.

The property was built in 2016 along Route 1 and is 100% leased, with four luxury apartments and two ground floor retail suites occupied by Club Pilates and Estate Treasures of Greenwich.

CBRE”™s Institutional Properties Group represented the seller, Marx Realty, in the sale and procured the buyer, a private investor based in Stamford.

“1381 East Putnam offers stable existing cash flow from long-term retail leases along with highly coveted luxury apartments in one of the most affluent areas in the nation,” said Stuart MacKenzie, a first vice president at CBRE. “This transaction is a testament to Greenwich and how it continues to be an extremely desirable location for apartment renters and retailers alike.”