Balletto of Northeast Private Client Group arranges $22.8 million sale of multifamily apartment

Madison, TN The Metro North Investment Sales Team at Northeast Private Client Group has arranged the sale of Falcon View Apartments, a 163-unit multifamily community. The sale price was $22.82 million.

Brad Balletto represented the seller, a Connecticut-based real estate investor, and procured the buyer, Concordia Properties, based in Lakewood, New Jersey.

Falcon View Apartments, located at 201 E Palestine Ave.; consists of 45 one-bedroom units, 54 two-bedroom units, and 64 three-bedroom units. The property is 100% occupied. The units offer tenants large floor plans and unique features such as cathedral ceilings. The new owners plan to build on these features, improving unit interiors and property amenities to deliver a better experience for all residents.

The property is situated in the Madison neighborhood of Nashville, convenient to many retail and shopping amenities, and only a 15-minute drive from downtown Nashville. Nashville is one of the most rapidly growing cities in the country.