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July 13, 2022

New Jersey investors go on Hartford apartment-buying spree

Google Maps Franklin Avenue Apartments.
By Michael Puffer

A pair of New Jersey investors recently paid $3.2 million to buy nine century-old brick apartment buildings in Hartford, containing a total of 48 residential units.

Joel and Moishe Jacobowitz of Hillside, New Jersey, are principals of CT Grand LLC, a business that began a buying spree of small apartment buildings with a $195,000 purchase of a six-unit, three-story brick apartment building on Wethersfield Avenue in May.

Additional purchases followed, with the largest being a $2.5 million acquisition of six properties from Marconi Enterprises, whose principal is Filadelfo Ossino, of Glastonbury. That deal was recorded by the city on June 7.

CT Grand’s recent Hartford purchases include:

  • 353-355 Wethersfield Ave., a six-unit, brick building erected in 1920. Anthony Davidson sold the property for $195,000 in a deal recorded May 12.
  • 23-25 Bond St., a six-unit, brick building erected in 1900. Adrian Bakrina sold the property for $335,000 in a deal recorded June 5.
  • 48-50 Grand St., a mixed-use building with four apartments and first-floor retail built in 1920. Silvia Ambrosy Santiago sold the property for $229,000 in a deal recorded June 27.

CT Grand’s largest purchase to date was logged June 7, in which it paid Marconi $2.5 million for:

  • 359 Franklin St., a six-unit, brick building built in 1905.
  • 363-365 Franklin St., a six-unit, brick building built in 1905.
  • 369-371 Franklin St., a four-unit, brick building built in 1910.
  • 377 Franklin St., a four-unit, brick building with first-floor retail built in 1910.
  • 77-79 Hanmer St. a six-unit, brick building built in 1931.
  • 191-193 Preston St, a six-unit, brick building built in 1922.

Thuyan Tran, vice president of commercial investments with Vanguard PCG, represented CT Grand in the June 7 sale. Amanda Faroni-Sheehan, vice president of investments and multifamily sales with Vanguard PCG, represented Marconi. 
 

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