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August 2, 2022

Brooklyn buyer makes third apartment investment in New Britain this year

CoStar 21 Dunlay St., New Britain.

A 15-unit apartment building completed in 1972 sold for $1.47 million recently, with the deal broker calling it another sign of a vibrant market helped by good economic leadership in City Hall.

Tim Hines, a senior associate with Horvath & Tremblay, said the New Britain real estate market has thrived under the business-friendly leadership of Mayor Erin Stewart.

Hines represented both the buyer and seller of the property at 21 Dunlay St., a property that was off the market with multiple offers in less than a month. Hines said the new owner plans to make mild upgrades and to capture the increasing value of the New Britain marketplace.

SMP Realty LLC sold the nearly half-acre property and brick apartment building to Dunlay 21 NBCT LLC in a deal recorded July 22.

SMP Realty – whose principal is Michael Massi, of Southington – paid $203,750 for 21 Dunlay St. in 2002, according to city assessing records.

The buying entity – Brooklyn-based Dunlay 21 NBCT – was formed in May, with Abraham Indig, of Brooklyn, as its principal. Indig has made multiple investments in New Britain and Bristol lately.

In a sale recorded May 10, a limited liability company headed by Indig paid $2.3 million for three side-by-side, 52-year-old New Britain apartment buildings on Upton Street. Combined, the buildings hold 19 apartment units.

In a sale recorded in February, another Indig-led company, paid $1.5 million for apartment buildings at 75 Clark St. and 123 North St. in New Britain with a total of 19 units.

Last September, a limited liability company headed by Indig paid $1 million for an 11,640-square-foot, 16-unit apartment building at 218 West St. in Bristol that was built in 1919.

Attempts to reach Indig have been unsuccessful. 

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