**CBRE Arranges Sale of Putnam Green Apartments in Greenwich, CT**
A CBRE team led by Jeffrey Dunne, Eric Apfel, and Travis Langer has completed the $20.7 million sale of Putnam Green, a 66-unit multifamily apartment community located in Greenwich, Connecticut. This transaction marks the largest multifamily sale in Greenwich since the 2012 sale of Millbank Commons, which was also brokered by CBRE.
CBRE represented the seller, PIC Associates, and secured the buyer, Bedford Realty Associates. The transaction involved the fee interest in the land, which had been ground leased to the adjacent property. This lease was originally set to expire in September 2025. As part of the deal, CBRE successfully negotiated the early termination of the ground lease to align with the closing of the sale.
“Putnam Green’s prime location on the Connecticut/New York border offers residents the best of both worlds—easy access to Manhattan and the charm of suburban Greenwich,” said Jeffrey Dunne. “The property’s location and the timing of the ground lease expiration created a unique and compelling opportunity for Bedford Realty Associates.”
The sale highlights continuing investor interest in strategic multi-family assets within commuter-friendly locations.
