Monday Properties acquires 344-unit multi-family property in Stamford, CT
75 Tresser marks Monday Properties’ third investment in the New York tri-state area in the past 14 months.
Monday Properties, a dynamic real estate investment firm and leading developer, continues to grow its multi-family portfolio and geographic footprint with the purchase of 75 Tresser, a four-story Class A multi-family community in Stamford, Connecticut. Home to 344 units, 75 Tresser represents one of the largest real estate sales in the city in the last 13 months.
CBRE’s Jeffrey Dunne and David Gavin represented the seller. Monday Properties partnered with Washington Capital on behalf of the clients of the deal, and executive vice president of acquisitions and capital transactions Adam Carr led the acquisition.
“We continue to capitalize on opportunities in growing markets like Stamford, which is critical to expanding our multi-family platform. We were attracted to this investment because Stamford has continued to evolve as a city of work and play and offers some of the best dining, retail and entertainment in the market, not to mention that it is just a short train ride away. of New York,” Carr said.
Following the acquisitions of Harbor Landing in April 2021 and 900 Long Ridge Road in 2020, 75 Tresser is the third investment in Stamford for Monday Properties. With approximately 95% occupancy, 75 Tresser was an ideal investment for Monday Properties as the company plans to upgrade the building’s amenities lineup.
75 Tresser is near Stamford Station, providing access to MTA’s Metro North commuter line to NYC and Amtrak’s Northeast Corridor line, and just two blocks from Columbus Park, providing convenient easy and walkable access to the best of Stamford’s entertainment, shopping and dining district. . The asset provides access to what today’s residents demand for their hybrid lifestyle, including a media lounge with Wi-Fi, coffee bar, resident conference room and 5,000 square feet . fitness room and yoga center.
“Thousands of residents choose Stamford as their new home, and 75 Tresser is a market differentiator as a Class A alternative to some of the more expensive high-rise properties in the area,” said Frank Craighill, vice- President of Development at Monday Properties. “With our upcoming capital improvement plans, Monday Properties will reinvigorate amenity offerings to enhance the overall resident experience. We are in the early stages of planning major renovations to all units, including new flooring and bathroom fixtures.
75 Tresser offers studio, one-, two-, and three-bedroom apartments with modern finishes such as wood floors, nine-foot raised ceilings, and picture windows. The community provides intentional access to outdoor spaces with offerings such as Juliet balconies, patios and terraces on select apartments. Luxe amenities include a community lounge with a pool table, catering kitchen, technology center, and surround-sound theater, plus an outdoor courtyard with a grilling area and resort-style pool.
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