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October 10, 2016 Deal Watch

Hartford’s Gillett Manor apts. sold for $2.4M

PHOTO | Contributed Gillett Manor, 50 Gillett St., Hartford.
PHOTO | Contributed 142 S. Main St., Middletown.
PHOTO | Contributed Loom City Lofts, 215 E. Main St., Vernon.
Rendering | Contributed Artist's sketch of commercial space at Vernon's Loom City Lofts.

The 43-unit Gillett Manor apartments in Hartford's Asylum Hill neighborhood has sold for $2.4 million, brokers say.

Haveland Windsor LLC sold the property at 50 Gillett St., which also includes an abutting residential property at 17 Marshall St., according to New Haven commercial brokerMarcus & Millichap, which represented the seller and brought buyer W Realty NY to the deal table.

Built in 1965, Gillett Manor consists of two brick buildings on separate parcels one block from St. Francis Hospital and in the vicinity of headquarters for insurers Aetna and The Hartford, and UConn Law School.

$255K Wallingford sale

A mixed-use commercial building in Wallingford's center recently found a buyer who paid $255,000, brokers say.

Dental surgeon Lawrence Singer purchased the approximately 3,350-square-foot building at 33 Fair St. from Amy Stephanowski, according to seller's Rocky Hill broker O,R&L Commercial LLC.

The building has medical-office space on the first floor and residential apartments on the second and third floors.

Middletown’s $1.27M apt. sale

A 19-unit Middletown apartment community, directly across from Middlesex Hospital and in the shadow of Wesleyan University, recently sold for $1.265 million, brokers say.

AMDS Management LLC sold the property at 142 South Main St. to buyer South Main Apartments LLC, said seller's broker Marcus & Millichap.

The South Main apartments opened in 1967, offering all one-bedroom units. The property features gas-fired heat and hot water included in the rent, off-street parking, elevator, remote/entry and intercom system, and an on-site laundry room.

Grodsky’s Middletown lease

Mechanical-contractor The Grodsky Companies has leased 16,000 square feet at 299 Industrial Park Road in Middletown.

Twenty Lexington LLC owns the 27,500- square-foot industrial facility on 2.42 acres.

Colliers International represented Grodsky; Regions Commercial represented the landlord in the lease.

DataBind’s Enfield space

DataBind Corp. has leased a 24,866- square-foot Enfield industrial facility for its punching, binding and laminating-system operations, its broker says.

Tri Town Leasing LLC owns the building on 2.04 acres at 89 Moody Road.

Sentry Commercial was the sole broker in the lease.

Vernon’s Loom City Lofts full

The Loom City Lofts in Vernon's Rockville section say their 68 apartments in a converted textile mill are fully occupied.

Meantime, work is underway on the project's final phase, creating 6,000 square feet of first-floor commercial space at the former Roosevelt Mill, 215 East Main St., to be available in early October, according to the developers/landlords. The mill closed in 1988.

Hartford landlord Marc S. Levine and Westport architect Joseph V. Vallone are Loom City's partners. Levine's downtown Hartford developments include Temple Street and The Lofts at Main and Temple, and the Art Space live/work apartments. He also has overseen several suburban developments.

Construction on Loom City began in Oct. 2014. The total development pricetag is around $19.75 million, the developer's said.

Living units include studio, one- and two-bedroom units ranging from 581 square feet to 1,329 square feet, and rents from $850 to $1,600 per month.

Deal Watch wants to hear from you. E-mail it, along with contact information to: gseay@HartfordBusiness.com.

Gregory Seay is the Hartford Business Journal News Editor.

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