71-unit apartment building in Meriden sells for $8.58M
CoStar
32 Cook Ave., Meriden
A 71-unit Meriden apartment building has sold for $8.58 million to a company with offices in Great Neck, New York.
In a deed recorded by the city on April 7, Lev Apt LLC, of Lakewood, New Jersey, sold the 69,013-square-foot, four-story apartment building on 1 acre at 32 Cook Ave., to Star City Developers LLC.
The building was completed in 1961, according to city records.
In its state business filing, the buying LLC lists an office in Great Neck, New York. Its principal, Michael Levi, lists a Bridgeport address as his residence.
The seller’s principal is Yoseph Bialostozky, of Lakewood, New Jersey, according to state business records. Lev Apt LLC paid $9 million for the property in 2022, according to city records.
Steve Pappas, of Chozick Realty, who represented the seller, said most of the apartments and major systems were renovated 10 years ago, and the building rents at “workforce housing” rates.
The buyer purchased the property as part of a 1031 exchange and assumed a loan at 3.5% interest, Pappas said.
“It’s definitely more renovated than not,” Pappas said. “It’s a decent property.”
Sandy Strickling, Anne-Marie Dube and Tyler Egner of Sky Realty Group represented the buyer.
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