Paredim Partners has closed on the acquisition a 124-unit Class A luxury apartment building in Stamford, Conn. in a $33 million deal. The property, Parallel 41 Apartments, is located at 1340 Washington Blvd. and sold for roughly $268,000 per unit. Built in 2012, the community incorporates 62 one- and 62 two-bedroom units. Amenities include a fitness center, business center, media room, as well as 186 parking spaces. Paredim intends to implement a renovation and rebranding program for the property.
“We plan to further solidify the building’s position as a boutique, amenity-rich and value-oriented property as we have with similar projects in our portfolio of more than 2,000 units throughout the Fairfield, New Haven and other Connecticut markets,” said David Parisier, Paredim’s managing director & founding principal.
