Thu. Jun 8th, 2023
Photo of Paul Schott

STAMFORD — The Hoyt Bedford apartments, a 350-unit complex across the street from the city’s courthouse, has sold for approximately $99 million, in Stamford’s second-largest property sale of 2021.

Located at 98-140 Hoyt St., Hoyt Bedford was acquired by Lakewood, N.J.-based Hoyt Bedford LP, according to city property records. A message left for Hoyt Bedford LP was not returned.

The seller was Stamford Apartment Co., which lists a business address in Freeport, N.Y. The firm declined to comment on the sale.

Hoyt Bedford’s sale price compares with a “total appraised parcel value” of about $46 million, according to property records. Those records do not indicate the reasons for the disparity between the sale price and the appraisal value.

The sale generated $493,509 in local conveyance taxes. It was exempted from state conveyance taxes.

Hoyt Bedford’s sale shows the sustained investor interest in Stamford’s multifamily-housing market.

About three months ago, in the city’s largest property sale so far this year, the 101 Park Place apartment complex in the South End sold for $105 million.

In April, The Fairfield apartments on the edge of the downtown changed hands for $84 million.