Webb Manor Apartments complex in Hartford sells for over $4M
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76 Webster St., Hartford
A 43-unit apartment complex in Hartford has changed hands for just over $4 million.
Webb Manor LLC, based in Brooklyn, New York, sold Webb Manor Apartments at 76 Webster St. to Monroe, New York-based 76 Webster LLC for $4.1 million, according to a land record recorded by the city on April 7.
The deal was brokered by Chozick Realty Inc.
Web Manor LLC is controlled by Gershon Eichorn, an active buyer and seller of commercial real estate in Connecticut.
The new owner, 76 Webster LLC, is controlled by Mordechai Stern, who is also active in the Hartford market and has acquired other property from Eichorn.
The sale price equates to $95,000 per unit, the broker said.
Chozick’s Steve Pappas represented the seller, and Tess Cullen, the buyer.
“This sale reflects continued investor demand for well-located and extensively upgraded multifamily assets within the Hartford region,” the broker said in a statement.
The apartment building was built in 1951 and was recently renovated. It contains six studio apartments, 16 one-bedroom units, 20 two-bedrooms and one three-bedroom apartment.
The property — located near Hartford Hospital, Trinity College and Connecticut Children’s Medical Center — recently underwent $1 million in upgrades, including a new elevator and fully repaved parking lot, in addition to kitchen upgrades and modernized bathrooms.
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