
Please do not leave this page until complete. This can take a few moments.
Downtown Hartford’s Front Street Lofts apartments, built in 2015 as the first residential component of the city’s Front Street Entertainment District, have sold for $35.3 million, the Hartford Business Journal has confirmed.
The 121-unit residential, mixed-use development was sold last month to Front Street Lofts Ventures LLC, which is controlled by Shlomo Katz and Shloime Rosenberg who share a Lakewood, New Jersey business address, state records show.
Katz and Rosenberg, operators of SRK Management LLC, have been active investors in Connecticut.
In January, they paid $18.5 million for a recently built luxury apartment development in New Haven. A year earlier they paid $50 million for the “Westville Village” apartment complex, also in New Haven, according to the New Haven Independent.
As part of its Front Street Lofts purchase, the buyers took out a $29.1 million mortgage from Greystone Servicing Co. LLC, land records show.
The seller of the Front Street Lofts was Greenwich-based HB Nitkin Group, which was the overall developer of Hartford’s Front Street Entertainment District.
Michael Freimuth, executive director of the Capital Region Development Authority, said the deal is a good sign for the Hartford apartment market.
“While we have attracted developers to downtown Hartford, this represents a bit of a change in that we're now seeing investors purchase stabilized multifamily properties in the downtown and it shows that the downtown housing market held firm during COVID,” Freimuth said.
Freimuth has said occupancy rates for most downtown apartments remain above 90%, and hundreds of new units are expected to hit the market this year.
Bigger picture
Front Street is part of the larger Adriaen’s Landing revitalization development that also includes a number of shopping and entertainment options, in addition to the Connecticut Convention Center, Connecticut Science Center, Hartford Marriott Downtown and 81 Arch St. apartments.
It cost about $36 million to develop The Lofts apartments, which marked the second phase of the overall Front Street project. It houses 15,000 square feet of street-level retail space and five stories of apartments. Retail space is occupied by Starbucks and UConn’s Barnes and Noble bookstore.
The building features market rate apartment units, a fitness center, roof-top deck, pet bathing station and balconies in select units.
The apartments were partly funded by a $12 million state grant provided by CRDA's predecessor, the Capital City Economic Development Authority (CCEDA).
Completion of the 53-unit, 81 Arch St. apartments in 2019 marked the fourth and final phase of the Front Street project.
The Hartford Business Journal 2025 Charity Event Guide is the annual resource publication highlighting the top charity events in 2025.
Learn moreHartford Business Journal provides the top coverage of news, trends, data, politics and personalities of the area’s business community. Get the news and information you need from the award-winning writers at HBJ. Don’t miss out - subscribe today.
SubscribeDelivering vital marketplace content and context to senior decision-makers throughout Connecticut ...
All Year Long!
The Hartford Business Journal 2025 Charity Event Guide is the annual resource publication highlighting the top charity events in 2025.
Hartford Business Journal provides the top coverage of news, trends, data, politics and personalities of the area’s business community. Get the news and information you need from the award-winning writers at HBJ. Don’t miss out - subscribe today.
Delivering vital marketplace content and context to senior decision-makers throughout Connecticut ...
All Year Long!
In order to use this feature, we need some information from you. You can also login or register for a free account.
By clicking submit you are agreeing to our cookie usage and Privacy Policy
Already have an account? Login
Already have an account? Login
Want to create an account? Register
In order to use this feature, we need some information from you. You can also login or register for a free account.
By clicking submit you are agreeing to our cookie usage and Privacy Policy
Already have an account? Login
Already have an account? Login
Want to create an account? Register
This website uses cookies to ensure you get the best experience on our website. Our privacy policy
To ensure the best experience on our website, articles cannot be read without allowing cookies. Please allow cookies to continue reading. Our privacy policy
0 Comments