Non-Performing Note Sale: Johnson Street Apartments | Receiver in Place

Starting Bid: December 16th, 2026

Brokered by JLL and powered by RealINSIGHT Marketplace, the offering is a non-performing first mortgage loan secured by Johnson Street Apartments at 42 Johnson Street in Waterbury, Connecticut, a 48-unit multifamily property. The note carries an unpaid principal balance of $4,066,267, 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 1920 and renovated in 2022, the building offers 35,800 SF of rentable area. Occupancy was 95.83% as of February 1, 2026, the highest of the four Connecticut loans JLL is marketing, giving the collateral an in-place tenant base during the enforcement period. The loan was originated in June 2022 to fund the acquisition and matures in June 2029. Waterbury is an established urban market anchored by hospitals, major employers, schools and universities, with submarket vacancy averaging approximately 6%, giving the note buyer a potential path to title at a significant discount to replacement cost.To view similar notes currently for sale, see the links below.Non-Performing Note Sale: Tower View Apartments | Receiver in Place | RI MarketplaceNon-Performing Note Sale: Mark Twain Apartments | Receiver in Place | RI MarketplaceNon-Performing Note Sale: Willard Street Apartments | Receiver in Place | RI Marketplace

Court-Appointed Receiver Already In Place: A court-appointed receiver is in place at the Property while the foreclosure action remains pending.

Potential Path To Ownership At A Discount: Non-performing Loan offers a potential path to title at a significant discount to replacement cost.

Strong Submarket Multifamily Fundamentals: Property sits in a submarket with strong multifamily fundamentals and an average vacancy near 6%.

Strategic Urban Location With Connectivity: Walk Score of 82 site sits near downtown Waterbury, the region’s primary employment center.

Starting Bid: $800,000

Auctioneer: Lamar P. Fisher

Auctioneer Company: Fisher Auction Company Inc.