The Rivers Edge Portfolio recently sold for $6.35 million, including two luxury apartments and two mixed-use buildings on Riverside Avenue.

WESTPORT — The Rivers Edge Portfolio, consisting of two luxury apartments and two mixed-use buildings across the street on Riverside Avenue, recently sold for $6.35 million.

Each of the buildings is situated along the Saugatuck River.

“The transaction reflects the high demand for multi-family housing, which continues unabated in the Westport community,” the press release reads.

Nathan Reyna, media relations and content specialist for Avison Young, said the residential units are up for lease.

All four of the units in 264 Riverside Ave. are two bedrooms with 2.5 baths. The other residential building, at 260 Riverside Ave., has two units with two-bedrooms and two bathrooms, a unit with two bedrooms and one bathroom, a one-bedroom apartment with a bathroom and a three-bedroom penthouse, which has 2.5 bathrooms and a private roof deck.

The exterior of the property is light blue, embellished with a white trim and light gray roofing, as well as a roof top deck. The interior features marble bathrooms, a washer and gas dryer and an energy-efficient dishwasher and refrigerator, among other aspects.

According to the release, the apartment buildings were once two boutique office buildings that were considered obsolete. After repositioning it in April 2021, Continental Finance Corp. transformed the buildings into nine luxury apartments.

“This transaction was a clear win-win for both parties,” said Principal Will Suarez, who represented the seller, Continental Finance Corp. “The buyer successfully expanded their footprint in Westport along the desirable Riverside Avenue where they purchased two properties earlier this year, while the seller exited a well-planned and timed redevelopment of the asset.”

The buyer has not been announced.

The complex was listed within the town’s draft affordable housing plan adopted in June.

Rent varies within each property. In building 264, rent is $4,200 to $4,350 per month. In building 260, rent spans from $1,747 for affordable housing to $5,499 at fair market value.

The mixed-use buildings span from $1,280 to $9,780 per month. According to the press release, this location can be used for residential properties, or retail facilities.

Those buildings currently house Jr.s Deli and Grille, an artist space, a residential unit and Alice Black Interiors, according to the property portfolio.

The mixed-use property sits on the waterfront, including a dock for small boats. It also hosts two affordable housing units, which will “support the burgeoning demand for housing in the Westport market.”

“We are pleased to exit a well-executed repositioning of office product to high-demand residential, timing the market perfectly to coincide with rising demand in Fairfield County,” said Alex Gurevich, CEO of Continental Finance Corp.