Norwalk, CT – Cushman & Wakefield announced today that the real estate services firm has arranged the sale of 370 West Avenue, a 2.34-acre development site at the crossroads of Interstate 95 and Route 7. The final sale price was $12,020,000.
Cushman & Wakefield’s Al Mirin, Kate Schwartz, Matthew Torrance, Jim Fagan, Gerry Lees and Maureen O’Boyle represented the seller, Norwalk Hospital. RMS Companies acquired the site.
“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.”
370 West Avenue is a former YMCA located in the heart of downtown Norwalk. The site comprises nearly a full city block bound by West Avenue to the east, Connecticut Avenue to the south, Route 7 to the west and Maple Street to the north.
The property is situated within Norwalk’s CBD Zone, as well as within one of the city’s three Opportunity Zones. RMS Companies intends to construct a six-story, 204-unit apartment building with ground floor restaurant space at the site.
370 West Avenue is within walking distance of Norwalk Hospital and just minutes from Historic South Norwalk (SoNo), a booming social center and popular upscale dining destination, as well as the new 700,000-square-foot SoNo Collection Mall anchored by Nordstrom, Bloomingdale’s and Apple. The site is easily accessible via the area’s major commuter routes, including Interstate 95, the Merritt Parkway and Routes 1 and 7, as well as South Norwalk Metro-North Train Station
Cushman & Wakefield Arranges $12M Sale of Multifamily Development Site in Norwalk
Jayden Lapin-Tatman • 1/22/2024
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for property owners and occupiers with approximately 52,000 employees in nearly 400 offices and 60 countries. In 2023, the firm reported revenue of $9.5 billion across its core services of property, facilities and project management, leasing, capital markets, and valuation and other services. It also receives numerous industry and business accolades for its award-winning culture and commitment to Diversity, Equity and Inclusion (DEI), sustainability and more. For additional information, visit www.cushmanwakefield.com.
Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for property owners and occupiers with approximately 52,000 employees in nearly 400 offices and 60 countries. In 2023, the firm reported revenue of $9.5 billion across its core services of property, facilities and project management, leasing, capital markets, and valuation and other services. It also receives numerous industry and business accolades for its award-winning culture and commitment to Diversity, Equity and Inclusion (DEI), sustainability and more. For additional information, visit www.cushmanwakefield.com.