January 9, 2017
Deal Watch

10 area multi-family properties fetch more than $20.4M

PHOTO | Contributed
PHOTO | Contributed
Coachlight Village, 30 Hillside St., East Hartford.
PHOTO | Contributed
Stonegate Apts., 1431 Willard Ave., Newington.
533 Washington St., Middletown.

A portfolio of 10 Hartford area apartment-condominium communities with 384 units recently sold for more than $20.4 million, officials say.

New York-based Up Realty LLC bought the properties. Eastern Union Funding arranged the acquisition financing, which included three loans from Bankwell and three loans from Investors Bank.

The properties include 97 investor-owned condos at Gateway Estates Condominiums and 103 investor condos at Coachlight Village, both in East Hartford, as well as 90 additional apartments in Hartford, 60 apartments in Newington, and 34 apartments in New Britain.

Eastern Union Senior Managing Director Motti Blau and Senior Underwriter Uri Shoshana acted on behalf of Up Realty LLC.

The properties are: 229-233 Ellington Road (Gateway Estates Condominiums), East Hartford; 30 Hillside Street (Coachlight Village), East Hartford; 59 Evergreen Ave., Hartford; 61 Evergreen Ave., Hartford; 69-71 James St., Hartford; 73-75 James St., Hartford; 530 Wethersfield Ave., Hartford; 359 New Park Ave., Hartford; 1380-1390 East Street (Brookside Court Condos), New Britain; 1431 Willard Ave. (Stonegate Apartments), Newington.

Middletown area sales/leases

Middletown's Trevor Davis Commercial Real Estate LLC listed a series of recent sales and leases in central Connecticut. Trevor Davis Commercial was sole broker, unless otherwise noted.

• In Middletown, the Estate of Robert Fishman sold a 3,050-square-foot retail building at 533 Washington St./Route 66 to Commerce Circle Associates LLC for $430,000.

• Also on Washington Street, Kaoud Real Estate Development/Washington West LLC paid $450,000 for six parcels totaling almost six acres at 768, 778, 804 and 808 Washington St. from seller Philip H. W. Redford. The parcels are on the corner of Plaza Drive, next to the Staples Shopping Center. The lone building was a former antique store, at 808 Washington St. Kaoud will seek approvals from the city and the Army Corps of Engineers before developing it for retail use, Trevor Davis said.

• At 19 Tuttle Place, Integrated Security Group Inc. leased 9,950 square feet of corner space formerly occupied by Comcast. ISG will move from its current Meriden location of 1501 East Main St. Trevor Davis represented the tenant. CBRE-New England represented landlord, Richard R. Del Favero.

• At 442 Main Street, Cricket Wireless/MobileLink LLC 1eased 1,057 square feet of retail space. Main LLC is landlord.

• Next door, at 438 Main St., HealthDrive Corp. signed for 998 square feet; Michelle Manter/Keller Williams leased 367 square feet; Cocoon Web Design signed for367 square feet; and Helen Evrard leased 355 square feet. Main LLC is landlord.

• At Middletown Business Park, 430-468 Smith St., LightStat leased 3,868 square feet; A & B Homecare leased 411 square feet; and Andrea Maule leased 393 square feet. Trevor Davis represented landlord BostonMiddletown LLC. CBRE-New England represented LightStat.

• At Central Suites at The Central,363 Main St., the following tenants have leased space: Attorney John Shaw, 551 square feet; Gabriel Kastelle, 425 square feet; and Hibbard & Rosa Architects, leased 1,890 square feet. 363 Main Street Middletown LLC is landlord.

• At Sanseer Mill Office Park, 282 Main Street Ext., New England Residential signed for 4,851 square feet; Columbus House for 2,821 square feet; New England Geosystems, 2,285 square feet; and Palmer Eyecare Center, 2,209 square feet. C & S Investments LLC is landlord.

• At Baldwin Business Park, 440 Middlefield St., Sangha Trading leased 1,500 square feet from landlord Middletown Revival LLC.

Deal Watch wants to hear from you. E-mail it, along with contact information to: gseay@HartfordBusiness.com.

Gregory Seay is the Hartford Business Journal News Editor.

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