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April 13, 2023

Waterbury apartment complex sells for $19.3M

Costar Highland Ridge complex on Schraffts Drive in Waterbury.
By Michael Puffer

A 147-unit apartment complex near Interstate 84 in Waterbury has sold for $19.3 million, putting the property in the hands of a busy Brooklyn real estate investor.

A collection of three limited liability companies with a common address in Brooklyn bought the three-building “Highland Ridge” complex at 329-353 Schraffts Drive and 3 Gayridge Road from New Britain-based New Wilston Associates LLC through a warranty deed signed Nov. 14, 2022. That deed was logged by Waterbury’s Town Clerk’s office on Feb. 6.

John B. Deans, manager of Centrix Management, signed the deed on behalf of the seller.

The three buying LLC’s — Northeast Holdings, HH CT LLC and AEL Group — then transferred the property for $10 to Berry Equities LLC in a warranty deed signed Nov. 18, 2022, and recorded by the city on Feb. 6.

Brooklyn-based investor Gershon Eichorn signed the deed on behalf of Northeast Holdings, HH CT and AEL Group.  State business records list Gershon as principal of Berry Equities.

The complex of three, 41,535-square-foot buildings on 6.4 acres was completed in 1970. Each building hosts 47 units. Chozick Realty Inc. was the listing broker.

Eichorn has been at the center of several large-value transactions in Connecticut over the past year.

A limited liability company controlled by Eichorn paid $4.5 million for a 45-unit apartment complex in Willington last June.

About the same time, another Eichorn-led LLC paid $19.8 million for three apartment properties in Manchester with a total of 111 units.

In March 2022, another limited liability company with Eichorn as principal paid $3.9 million for a 28,702-square-foot medical office building in East Hartford.

 
 

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