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January 22, 2024

Stone Academy properties in East Hartford sell for $1.25M; housing redevelopment eyed

CoStar 745 Burnside Ave., East Hartford.

The former 3.9-acre East Hartford campus of failed career training school Stone Academy has sold for $1.25 million.

Stone Academy closed abruptly last February, at a point hundreds of students were enrolled in campuses in East Hartford, Waterbury and West Haven. In December, a Waterbury Superior Court judge issued a $5 million prejudgment remedy in a lawsuit against Career Training Specialists LLC, doing business as Stone Academy, and its owners and trustees — Mark Scheinberg, Joseph Bierbaum and Richard Scheinberg — as defendants.

The seller of two properties that comprised the East Hartford campus, Olmsted Realty LLC, lists Mark E. Scheinberg, as principal.

The 2.53-acre property at 745 Burnside Ave. was sold for $600,000 to an investment group in New York, which hopes to convert an existing 12,768-square-foot classroom building into housing, according to Eric Amodio, of Amodio & Co., who represented the buyers. That sale has not yet been logged into East Hartford land records.

The property also includes a 4,481-square-foot office building, built in 1909, which might be converted to housing or remain as leasable office space, Amodio said.
Frank Amodio Sr. represented Olmsted Realty in the sales.

The adjacent 1.4-acre property at 763 Burnside Ave. was sold to SolomonMcLarney LLC, whose principals are Kathryn McLarney and Alexandra Solomon, in a deed logged by the town on Dec. 11. Solomon, reached Monday, said she and her business partner are licensed clinical social workers and are in the process of renovating a 4,547-square-foot office building on the property. 

They plan to use a portion for a counseling business, and then lease out the remainder to mental health or medical professionals.

The East Hartford properties originally listed for $2.1 million as a package about a year ago.

Eric Amodio said it was a challenge to find buyers, especially as the properties were vacant and without income in a town with relatively high property tax rates. An auction was attempted but failed to produce a sale. The decision was ultimately made to market the properties separately.

Amodio & Co. is also marketing the former Stone Academy campuses in Waterbury and West Haven. Eric Amodio said the West Haven campus is under contract and there are interested parties considering the Waterbury property. 

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