Address	149 Water Street, Norwalk, CT
Total Units	44
Year Built	1987
Bedrooms	Studio, 1-bedroom
Median Sale Price	$260,000
HOA Fee	~$300/month
Property Tax	~$2,880/year
Building Style	Townhouse/Mid-rise

Riverside Plaza Condos for Sale

Riverside Plaza is a 44-unit complex on Water Street in Norwalk. Turnover here is real but not rapid — MLS records show 26 verified sales going back to 2016, which works out to roughly three to four transactions per year on average. That pace means availability tends to be limited at any given moment, and units that are priced correctly do not sit long. The broader Norwalk CT real estate market saw inventory drop roughly 10.6% in early 2025, which puts additional pressure on smaller complexes like this one. If you are watching Riverside Plaza specifically, do not assume you will have weeks to decide. Contact The Engel Team directly for current availability and any off-market activity at this address.

Recently Sold at Riverside Plaza

MLS records confirm 26 closed sales at Riverside Plaza. Prices ranged from $111,500 in January 2017 to $325,000 in October 2023. The median sale price across all recorded transactions was $205,000, though the two most recent closings — Apt 15 at $260,000 in September 2025 and Apt 34 at $315,000 in November 2024 — point to a meaningful upward shift from that historical median. Unit sizes in the sales record ran from 378 to 789 square feet. Median price per square foot across the dataset was approximately $335.

The table below covers recent verified sales at Norwalk CT condos in this complex:

Unit	Date	Price	Bed/Bath	SqFt	HOA/mo	Tax/yr
APT 15	09/12/2025	$260,000	1/1	558	$279	$3,968
APT 34	11/14/2024	$315,000	1/2	747	$353	$4,491
APT 4	08/05/2024	$238,000	—	496	$256	$3,071
28	10/11/2023	$325,000	1/2	747	$353	$3,250
4	07/05/2023	$190,000	—	496	$245	$2,332
35	07/05/2022	$289,000	1/2	747	$333	$3,073
10	06/16/2022	$205,000	1/1	630	$300	$2,789
3	02/02/2022	$180,000	1/1	682	$325	$2,882
11	01/21/2022	$258,000	1/1	685	$300	$2,531

One pattern worth noting: the largest units — those at or above 740 square feet — have consistently closed above $220,000 since 2020 and have pushed past $300,000 in the two most recent sales at that size. Smaller units below 500 square feet have more price variance, ranging from $111,500 to $238,000 depending on condition and timing. The spread between best and worst outcomes in this building is wide enough that condition and renovation level matter significantly for both buyers and sellers pricing a unit here.

About Riverside Plaza

Riverside Plaza is a 44-unit condominium complex built in 1987 at 149 Water Street in Norwalk, CT. The building style combines townhouse and mid-rise elements — a configuration that distinguishes it from the purely flat-style complexes found elsewhere in South Norwalk. At 44 units, it is a small building by Norwalk standards, which tends to create tighter community dynamics and a more limited resale pool. The Water Street address puts residents close to the South Norwalk corridor, with access to the area’s restaurants, transit options, and waterfront proximity without requiring the premium attached to fully waterfront addresses. For buyers interested in Norwalk homes for sale at a price point well below the town median of $660,000, Riverside Plaza is one of the few options in this part of the city.

Homes and Layouts at Riverside Plaza

Units at Riverside Plaza are studio and one-bedroom configurations. Square footage in the verified sales record runs from 378 to 789 square feet, with most one-bedroom units falling between 540 and 690 square feet. The larger one-bedroom units — at 739 to 789 square feet — appear in the sales record with one- and two-bath configurations, which is notable for a building in this era and size class. The building’s townhouse-and-mid-rise hybrid style means that not every unit has the same entry configuration or floor layout. Buyers should confirm whether a specific unit is a flat or has a vertical layout, as that affects both livability and renovation scope.

Parking and outdoor space details should be confirmed with the association or a listing agent, as the verified data does not specify assigned versus unassigned parking or whether any units include private outdoor areas. Given the 1987 construction date, storage and closet configurations will vary.

What Buyers Need to Know

HOA fees in the verified sales record ranged from $160 to $353 per month, with the most recent closings showing fees of $279 (Apt 15, September 2025) and $353 (Apt 34, November 2024). That range is wide for a 44-unit building, and buyers should request a current fee schedule and confirm what the monthly dues cover — common utilities, exterior maintenance, insurance on the building envelope, and reserve contributions are the standard items to verify. Property taxes across the sales record ranged from $2,288 to $4,491 annually, and recent closings have been on the higher end of that band. Budget accordingly.

For a building constructed in 1987, reserve fund health is a critical due diligence item. Ask for the most recent reserve study and find out whether the association is fully funded or operating on a deferred maintenance schedule. Special assessment history matters here — a building this age has likely faced at least one significant capital project, and understanding what has been addressed versus what remains is important before committing. Request the past two to three years of meeting minutes along with the reserve study.

Resale value at Riverside Plaza is tied closely to unit condition. The spread between $111,500 and $325,000 across the sales record reflects genuine variation in finishes and renovation level, not just market timing. A buyer purchasing a lower-finish unit at a discount and investing in updates has historically seen that reflected at resale. Buyers evaluating a specific unit should treat the price-per-square-foot figure — approximately $335 at the median — as a baseline, not a ceiling, and assess condition carefully against that benchmark.

Rental rules, pet policies, and owner-occupancy ratios are not confirmed in the available data. These details affect both financing options and long-term flexibility, so confirm them directly with the association before making an offer. Conventional financing is typically available in buildings above a certain owner-occupancy threshold — if you are financing at a higher loan-to-value ratio, your lender will need to review the association’s financials and occupancy mix directly.

Buying or Selling at Riverside Plaza

Pricing a unit at Riverside Plaza accurately requires knowing which comparable sales reflect similar square footage, bath count, and finish level — and which ones reflect units that were either distressed or significantly updated. The 26-sale history here provides a workable dataset, but the variance is large enough that list price strategy matters. For sellers, the gap between a well-priced, well-presented unit and an overpriced listing in this building is not small.

The Engel Team tracks sales and off-market activity across Norwalk condos and can provide a specific valuation for your unit or help buyers identify when a unit becomes available before it hits the open market. For current pricing guidance, a comp analysis tailored to Riverside Plaza, or help structuring an offer in a market where Norwalk inventory has tightened, reach out directly. The conversation starts with the data, not a brochure.

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