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March 14, 2024

Offices-to-apartments plan pitched in New Haven

Google 261 Bradley St., New Haven

The new owners of a historic New Haven office building that was once a single-family home are looking to convert it back into residential apartments.

The 5,400-square-foot property, at 261 Bradley St., was built in 1890 as a single-family home. It had been converted to professional spaces since at least the 1970s and has long been home to law offices, according to real estate broker Matt Nolan with East Rock Real Estate and Management, who is the owner’s representative in the redevelopment application.

Owners 561 Bradley LLC and principal Avi Lipsker of New Haven are applying to the City Plan Commission to convert the six law offices into eight apartments.

Each unit will have two bedrooms, two bathrooms and a combined kitchen/living area with its own laundry space. 

Nolan said he has facilitated the conversion of five buildings into apartments, including at least three former law offices in New Haven. 

The New Haven real estate market is highly competitive, and the best value-add development strategy is to “create something that didn’t exist before,” Nolan said.

Housing in New Haven is in high demand, especially for students, whereas the need for office space is on the decline, he added.   

The property was sold to 561 Bradley LLC for $1.1 million last June by EFB Realty LLC and principal Richard C. Feldman, according to city land records. Nolan anticipates an investment of $800,000 to $1 million for the conversion, based on past construction estimates of roughly $100,000 per unit.

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