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September 6, 2023

New Haven residential buildings fetch $6.6M

Contributed 97, 95 and 91 Howe St., New Haven

Three New Haven residential buildings with 44 apartments have been sold for more than $6 million.

Jonathan Rahimi and Isaac Shaer, principals of Great Neck, N.Y.-based 91 Howe St. LLC, bought three properties at 91, 95 and 97 Howe St., from Jacob and Josef Feldman, principals of 91 Howe LLC out of Lawrence, N.Y.

The deal was recorded in city land records on Aug. 25.

The sale price was $6.61 million, according to real estate brokerage firm Marcus & Millichap, which represented both the seller and buyer in the deal.

The largest building at 91 Howe St. contains 36 renovated, 400-square-foot studio apartments. 

A two-family house sits at 95 Howe St., and the property on 97 Howe St. contains six, three-bedroom apartments, all of which were vacant at the time of sale. 

The 97 Howe St., property “offers a significant redevelopment opportunity through rehabilitation of large three-bedroom, two-bath units,” said Wes Klockner, first vice president of Marcus & Millichap.

The apartment building was built in 1920, and the other two buildings date back to 1900. The complex is close to downtown New Haven, the Broadway and Chapel areas and the Yale University campuses. 

“We continue to see strong investor demand for well-located, value-add multifamily opportunities,” Klockner said. 

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