For Auction
Asset Snapshot
Investment Highlights
Offering Summary
Brokered by JLL and powered by RealINSIGHT Marketplace, the offering is a non-performing first mortgage loan secured by Tower View Apartments at 380 West Main Street in Waterbury, Connecticut, a mixed-use building with 49 residential units and 6 ground-floor commercial spaces. The note carries an unpaid principal balance of $3,551,665, and the buyer steps into the lender position with remedies already in motion: a Notice of Default was issued in May 2026, a foreclosure complaint seeking a receiver was filed in July 2026, and a court-appointed receiver now controls the property. Built in 1910 and renovated in 2024, the four- to five-story brick building offers 38,750 SF of rentable area across 17 studios, 28 one-bedroom units, 4 two-bedroom units and 7,700 SF of retail, served by an elevator on a 0.34-acre CBD-zoned site. Occupancy was 94.5% as of March 31, 2025, and the ground-floor retail adds a second income stream beyond the apartments. The loan was originated in June 2022 to fund the acquisition, carries a 3.52% fixed rate on a 30-year amortization and matures in June 2029. Downtown Waterbury is an established urban market anchored by hospitals, major employers, schools and universities, giving the note buyer a potential path to title at a significant discount to replacement cost.
Due Diligence
Location
Tower View Apartments occupies the corner of West Main Street and Willow Street in Waterbury’s CBD zoning district, with 153 feet of West Main frontage and a Walk Score of 89. Comparable apartment buildings at 42 Johnson Street and Westview Apartments sit 0.2 and 0.3 miles away, and more than 102,000 residents live within a three-mile radius of the site.
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Buyer pays a minimum platform fee of 5% or $25,000 at closing.
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Disclaimers
The information being provided herein is for informational purposes only. No representation or warranty is made as to the accuracy or completeness of any information contained herein, including, without limitation, any information regarding the condition of the Property, the condition of title or Property descriptions. Any documents and/or pictures posted herein or elsewhere on the RealINSIGHT Marketplace (the "Website") are for informational purposes only, and may not represent the current condition of the Property or the condition of the Property at the time of sale. The posting of pictures herein or elsewhere on the Website does not constitute a guarantee that any items represented in the pictures will be present when the buyer takes possession of the Property. You are encouraged to conduct your own due diligence and investigate all matters relating to the Property. It is recommended that you seek independent advice, including legal advice, to perform your due diligence and that you use good faith efforts in determining that the content of all information provided to or obtained by you is accurate.
