Danbury Apartment Complex Sells for $53.3M

The former Avalon Bay community at 53 Sand Pit Road in Danbury has sold to The Simon Konover Company and Outlook Development Group for $53.3 million. A subsidiary of Goldman Sachs Group, Inc. joined The Simon Konover Company and Outlook Development Group in the acquisition.

The property is comprised of 106 one-bedroom units, 134 two-bedroom units, and 28 three-bedroom units in eleven detached three-story buildings. The buildings are situated on 17.5 acres of land in close proximity to Downtown Danbury. The apartment buildings were built in 1998 and have amenities such as a clubhouse, fitness center, heated outdoor swimming pool, and an indoor basketball court. Konover Residential Corporation will take over management of the property.