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October 16, 2024

Layla Sleep founder acquires former CREC school in Hartford for $750,750

Contributed The former CREC Discovery Academy at 417-429 Franklin Ave. in Hartford.
By David Krechevsky

The founder of a New Haven-based online mattress company has acquired a former school property in Hartford for $750,750.

The 45,000-square-foot building, at 417-429 Franklin Ave., was formerly home to the Capitol Region Education Council’s Discovery Academy magnet school, which relocated to Wethersfield. 

The building subsequently was used as medical office space, but is currently vacant.

The property, which includes 1.42 acres, was sold by New York-based The Greca Plaza LLC during an online auction on Oct. 15. The auction had five registered bidders and more than 20 bids were received, according to Michael Guidicelli, owner and broker of Regions Commercial Real Estate, who served as broker for the sale. 

The winning bid was submitted by Franklin Ave. LLC in Orange, which is owned by Akrum Sheikh, who is founder and CFO of LaylaSleep.com, according to his LinkedIn profile. 

According to Guidicelli, Sheikh “intends to implement significant capital improvements” in the building, and lease it for medical offices.

The building is located in a zone that allows for a mix of retail, service, residential and office uses.

Founded in 2018, Layla Sleep is based at 157 Church St., in New Haven. It sells memory foam and hybrid mattresses and related products, and has a patent for the LaylaBox, a shipping box that turns into a boxspring for a mattress. 

Sheikh did not immediately respond to messages seeking comment.

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