[[{“value”:”
**Office-to-Residential Conversion Sets Greenwich, CT Pricing Record**
Jeffrey Dunne, Eric Apfel, Stuart MacKenzie, and Travis Langer of CBRE have brokered the sale of The Mill, a premier mixed-use property in Greenwich, Connecticut. Representing the seller, The Mill Owners Company LLC, CBRE also secured the buyer for this landmark transaction. The property sold for $97.5 million, marking the highest-priced single-asset apartment community sale in Greenwich since the sale of Putnam Green in 2006.
The Mill is a distinctive mixed-use community featuring 71 apartment units and 28,653 square feet of retail space across five buildings. It includes 59 luxury apartments housed within a restored 19th-century mill, originally constructed in 1881, and a repurposed office building from 1981. An additional 12 apartments are located at 328 Pemberwick Road. The property had been held by the same ownership group for more than 40 years, spanning two generations.
“The Mill is a very special property that was significantly improved through the conversion process, and as a result, achieved record pricing—well over $1 million per apartment,” said Jeffrey Dunne.
This sale not only underscores the continued strength of the Greenwich real estate market but also highlights the value of adaptive reuse projects in today’s evolving housing landscape.
“}]]
