Monday Properties, a dynamic real estate investment firm and industry-leading developer, continues to grow its multifamily portfolio and geographic footprint with the purchase of 75 Tresser, a four-story Class A multifamily community in Stamford, Connecticut. Housing 344 units, 75 Tresser represents one of the city’s largest property sales in the last 13 months.
Jeffrey Dunne and David Gavin of CBRE represented the seller. Monday Properties partnered with Washington Capital on behalf of the clients on the deal, and Executive Vice President of Acquisitions and Capital Transactions Adam Carr led the acquisition.
“We continue to capitalize on opportunities in growth markets like Stamford, which is key to the expansion of our multifamily platform. We were attracted to this investment because Stamford has continued to evolve as a live-work-play city and offers some of the best restaurants, retail, and entertainment within the market, not to mention it’s a short train ride away from New York City,” said Carr.
Following the acquisitions of Harbor Landing in April 2021 and 900 Long Ridge Road in 2020, 75 Tresser is the third investment in Stamford for Monday Properties. With an occupancy rate of approximately 95%, 75 Tresser was an ideal investment for Monday Properties as the firm plans enhancements to the building’s amenity programming.
75 Tresser is proximate to Stamford’s train station—providing access to MTA’s Metro North commuter line to NYC and Amtrak’s Northeast Corridor line—and just two blocks from Columbus Park, providing easy, walkable access to the best of Stamford’s entertainment, shopping, and dining district. The asset provides access to what today’s residents demand for their hybrid lifestyles, including a media lounge with Wi-Fi, coffee bar, resident conference room, and 5,000 sq.ft. fitness room and yoga center.
“Thousands of residents are picking Stamford as their new home, and 75 Tresser is a differentiator in the market as a Class A alternative to some of the more expensive high-rise properties in the area,” said Frank Craighill, Vice President of Development at Monday Properties. “With our forthcoming capital improvement plans, Monday Properties will revive the amenity offerings to enhance the overall resident experience. We are in the early stages of planning significant renovations throughout the units including new flooring and bathroom fixtures.”
75 Tresser offers studio, one-,two-, and three-bedroom apartments with modern finishes such as wood-style flooring, elevated nine-foot ceilings, and panoramic windows. The community provides intentional access to outdoor spaces with offerings like Juliet balconies, patios, and terraces on select apartments. Luxury amenities include a community lounge area complete with a billiards table, catering kitchen, technology center, and surround-sound theater, as well as an exterior courtyard with a grilling area and a resort-style swimming pool.
About Monday Properties:
Monday Properties is a vertically integrated real estate investment firm that owns, operates, develops and invests in a dynamic portfolio of mixed-use properties. Since 2002, the firm has completed over 86 property transactions representing 35 million square feet and $16 billion in capital value. Monday Properties uses their comprehensive strategy based on high-growth markets and opportunistic investments to deliver unique commercial and residential investment offerings that transform communities and focus on connectivity. The company’s current portfolio totals more than 5 million square feet of commercial office space, as well as 2,700+ multi-family units that are either developed, planned or under construction. For more information on Monday Properties, please visit www.mondayre.com.