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May 7, 2024

Historic Glastonbury mill eyed for apartments hits market

COSTAR 122 R Naubuc Ave., Glastonbury

A historic Glastonbury mill property that was being considered for a luxury apartment redevelopment has been listed for sale. 

The 58,216-square-foot mill complex at 122 R Naubuc Ave., was listed earlier this month without an asking price. 

The three-story building contains five different units that are currently 24% occupied, according to a marketing brochure created by listing broker Scalzo Commercial & New Development, of Bethel. 

The building dates back to 1863, and was the former home of rifle maker Connecticut Arms and Manufacturing Co.

The property last traded in hands in July 2022, when it was purchased for $1.08 million by New York-based Nestwell LLC, which is registered in Delaware. 

A broker involved in that deal said the building needed to be almost completely gutted and renovated, and that the new owners planned to eventually renovate the property into upscale apartments.

That conversion never materialized, but the property has been targeted by the town for adaptive redevelopment.

Meantime, the town of Glastonbury on March 5 put a tax lien on the property, land records show. 

As of 2022, the property had an assessed value of $853,700, according to town records. 

Marketing materials say the 1.4-acre property has “ample space for industrial/manufacturing operations and expansion” and the potential for “repositioning.”

“Boasting strong infrastructure, utilities, and access to major transportation routes, it's perfectly positioned to support industrial and manufacturing needs,” the marketing brochure reads. 

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