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December 20, 2024

72-unit New Haven apartment complex sells for $10.25M

contributed 492-514 Fountain St., New Haven
By Michael Puffer

A New Haven-based real estate investor recently paid $10.25 million for a 72-unit apartment complex in the city.

Yohay Levram is principal of the limited-liability company that bought the Imperial Gardens complex on nearly 3.2 acres at 492-514 Fountain St., in a sale recorded by the city on Thursday.

The complex hosts seven, two-story brick buildings dating to 1960, according to assessment records. The buildings range in size from 6,626 to 13,252 square feet, with each hosting six or 12 units.

The seller, Imperial Gardens LLC, paid $4.2 million for the property in 2011. Its principal is David Bender, of Westbrook, former principal of New Haven-based Bender Plumbing Supplies.

The sale was brokered by Vanguard Private Client Group of New Haven.

Vanguard Vice President Andrew Stein said the off-market sale took a little more than a year to complete. He credited the seller’s willingness to finance the deal for putting it over the finish line.

Stein represented the buyer. Vanguard CEO Alex Opuszynski represented the seller. 
 

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