NEW YORK—A private New York-based investment group has purchased 59 Broad Street in Stamford, Conn. from Tolari LLC, an entity controlled by F.D. Rich, for $2.15 million. Gene Pride of CBRE’s private capital group represented the seller in the transaction.
The new ownership will occupy much of the upper floor for its corporate offices and lease the ground floor to retail tenants. The purchase marks the buyer’s first in Stamford.
“The sale of 59 Broad Street was an opportunity for F. D. Rich to dispose of excess real estate not vital to its core development objectives, while allowing the buyer to obtain office and retail space in an exceptional location that continues to experience growth due to the City of Stamford’s evolving, dynamic and thriving work-live-play environment expands,” said Pride.
The property is located in close proximity to a Target, 115-room Courtyard by Marriot hotel, the University of Connecticut and Trump Parc Residences.