A 2.34-acre development site at 370 West Ave. in Norwalk has been sold for $12 million.
The site, at the crossroads of I-95 and Route 7, comprises nearly a full city block and was formerly a YMCA. RMS Companies acquired the property and will construct a six-story, 204-unit apartment building with ground floor restaurant space at the site.
Cushman & Wakefield’s Al Mirin, Kate Schwartz, Matthew Torrance, Jim Fagan, Gerry Lees and Maureen O’Boyle represented the seller, Norwalk Hospital.
“The sale of this former Norwalk YMCA site presents another significant development project, proving that demand for multifamily properties in Norwalk continues to grow,” said Mirin. “This site is well-suited for multifamily development, as it is situated in a prime location just minutes from Historic South Norwalk and all of the area’s thriving restaurants, retailers and amenities.”
Photo courtesy of LoopNet
