Non-Performing Note Sale: 265,000 SF Flex Building I Norwalk, CT

Brokered by Marcus & Millichap and powered by RealINSIGHT Marketplace, 25 Van Zant Street is the collateral for the sale of a $2.1 million non-performing loan (the “Loan”) secured by a 265,000-square-foot, multi-tenant industrial building on 5.25 acres in Norwalk, Connecticut. The fixed-rate Loan bears interest at 12.75%, carries a 17.75% default rate, and matured on September 30, 2026, with a payoff amount of $2,140,151.54 as of that date and late charges of $107,007.58 reported as of October 10, 2026. The Loan is supported by a guaranty of non-recourse obligations and an equity pledge from sponsor Winthrop E. Baum. Originally constructed in 1923 and renovated in 1985, the Property features 2,400-amp, 480-volt, three-phase power, wet sprinkler systems, two drive-in doors, 25-foot by 25-foot column spacing and approximately 500 surface parking spaces. Zoned Light Industrial #1 within Fairfield County’s Norwalk submarket, the Property is a seven-minute walk from East Norwalk station and offers access to I-95, the Merritt Parkway and U.S. Route 7. The offering presents investors with the opportunity to acquire a non-performing loan secured by a multi-tenant industrial asset with heavy power infrastructure in coastal Fairfield County, approximately 35 miles northeast of Manhattan.

Matured Note With $2.1M Unpaid Balance: Loan matured 9/30/2026 with a $2,140,152 payoff, 17.75% default rate, and $107,008 in late charges.

Non-Recourse Guaranty Plus Equity Pledge: Sponsor Winthrop E. Baum provides a guaranty of non-recourse obligations backed by an equity pledge.

265,000 SF Multi-Tenant Industrial Building: Sits on 5.25 acres at a 1.16 FAR with 25' x 25' column spacing and 500 surface parking spaces.

Zoned Light Industrial #1 in Norwalk: Zoning supports industrial use among established commercial and industrial properties in Norwalk.

Starting Bid: $500,000