Yale buys two mixed-use Broadway buildings for $7M
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51-55 and 57-61 Broadway, New Haven
Yale University has purchased two mixed-use buildings in the Broadway area of New Haven for $7 million.
The “York Square Broadway” properties include 51-55 Broadway and 57-61 Broadway, which are two retail/office/multifamily buildings totaling more than 30,200 square feet near the Yale campus at the intersection of York Street.
Frank Hird, SIOR and Will Braun of O,R&L Commercial in Branford represented the seller, Yale Mall Partnership, and also procured the buyer, Yale University.
Tenants in the property include Campus Customs apparel and gifts, Broadway Kitchen restaurant, Blue Jay Cleaners, Blue Mercury cosmetics chain, Broadway Salon, One Good for Another Consignment and four newly constructed one-bedroom apartments.
The complex included 7,300 square feet of vacant office/flex space that had been the longtime headquarters for an architectural firm for 30 years.
Yale Mall Partnership took ownership of the properties in 2003. The buildings date back to the early 1900s and are part of the “Shops at Yale,” which includes the Apple Store and Urban Outfitters. The buildings have a total appraised value of $4.5 million, according to city property records.
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