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November 6, 2024

56-unit N. Britain apartment complex sells for $4.8M

Contributed Elam Court apartments, at 15-45 Elam St., in New Britain.
By Greg Bordonaro

A six-building, 56-unit apartment complex in New Britain has sold for $4.8 million, according to a broker involved in the deal. 

The Elam Court apartments, at 15-45 Elam St., sold this month for $85,714 per unit, according to Eric Amodio, of Amodio & Co  Real Estate, who represented the seller in the deal, Elam Gardens LLC.

The buyer was LYP Management LLC, which is controlled by Yoseph Katz, who lists a New Haven business address. 

The 1967-vintage property, which has only one-bedroom apartments, was fully leased at the time of the sale, Amodio said. It contains on-site laundry facilities and surface parking.

It last sold in 2008 for $2.35 million, property records show. 

The seller’s LLC is controlled by Zvi Horowitz, who lists a Montvale, New Jersey business address. 
 

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