Marx Realty has sold 1381 East Putnam Avenue, a boutique Class A mixed-use retail and multifamily asset in Greenwich, CT., for $5.1 million to a private investor based in Stamford, CT. Constructed in 2016, the building features four luxury apartments and two ground-floor retail suites with full occupancy boasting average lease terms of approximately seven years from tenants Club Pilates and Estate Treasures of Greenwich.
Jeffrey Dunne, David Gavin, Stuart MacKenzie Travis Langer and Daniel Blumenkrantz of CBRE’s Institutional Properties Group represented the seller while procuring the buyer. “1381 East Putnam Avenue presented an opportunity to acquire a recently redeveloped property with stable income located within one of America’s most prestigious markets,” said Gavin.
