NewHavenBIZ

24 n e w h a v e n B I Z | N o v e m b e r 2 0 2 2 | n e w h a v e n b i z . c o m P o w e r 2 5 R e a l E s t a t e development. Plans allow for commercial space on the ground floor. Balletto said the downtown New Haven market has seen strong rent growth in re- cent years, which is projected to continue through 2025. Balletto was also involved in recent months in the sale of two multifamily buildings in Bridgeport for nearly $5 million. e two properties at 1589-1599 Fairfield Ave., and 1873-1879 Strat- ford Ave., contain 42 units in 37,200 square feet. Balletto has also taken part in high- priced deals involving other apartment complexes in area communities. Westnor Apartments, at 45 Monroe St., Bridgeport, sold for $8.1 million, and Norell Apart- ments, at 48 Amsterdam Ave., Bridgeport, sold for $3.1 million. Balletto was also involved in the $2.18 million sale of Nicoll Street Apartments, at 245-258 Nicoll St., New Haven, and the $2.1 million sale of Washington Park, at 29-37 Washington Ave., in Hamden. Darrell Brooks, Chief of Operations, Beulah Land Development Corp. Darrell Brooks serves as the chief of operations for the Beulah Land Devel- opment Corp., a nonprofit organization established in 1994 to develop affordable housing for low- and moderate-income individuals and families in New Haven. Brooks and the organization are working to help people live in communities that are free from blight, poverty and crime. Toward that end, they transform dilap- idated, absentee-owned structures and vacant lots into renovated and affordable residential properties. In August, Brooks was part of a crowd gathered at 340 Dixwell Ave. in New Haven celebrating a new climate-friendly affordable housing complex rising on what had long been a blighted vacant lot. A new complex at the site — a collab- oration between Beulah Land Develop- ment Corp., housing nonprofit HELP USA and developer Spiritos Properties — will provide about 70 new units in the Dixwell neighborhood. e units will be earmarked for low- to moderate-income families, with some for those experienc- ing homelessness. Construction is underway, and the four-story complex is slated to be com- pleted by spring of 2023. e lot, at the corner of Dixwell and Orchard, had been vacant for at least 25 years. Brooks said at the August event, "At Beulah, we keep the values of the commu- nity at the forefront and are committed to opening doors to homeownership, creating job opportunities and fostering economic development. is project does all of that." It will be the latest of multiple projects that Brooks and the organization have brought to fruition. Beulah Land Development has been behind new townhomes built on Orchard and Munson streets for low- to moder- ate-income families. It also developed supportive housing for the elderly on Orchard Street. e organization has ongoing projects on Munson and Orchard streets, and is eyeing future projects in the same neighborhood. Victor Nolletti, Executive Managing Director & Founding Member, Institutional Property Advisors Victor Nolletti handled multiple high-profile, high-dollar figure sales in recent months, including a historic New Haven building known for hosting presi- dents and famous actors. Nolletti is an executive managing director and founding member of the Institutional Property Advisors group of Marcus & Millichap Real Estate Investment Services. During his more than three-decade career, Nolletti has assisted clients in the sale and acquisition of roughly $14 billion in commercial real estate, properties spanning 15 states. Nolletti recently represented the seller of 265 College St., New Haven, the Ta Apartment Building, which sold for $52.5 million. e building features 194 apartments, including studio, one- and two-bedroom units, and 18,000 square feet of retail space. Before being converted to apartments about four decades ago, the building had been a hotel, the Hotel Ta, which opened in 1912. Former President William Howard Ta lived there while he taught at nearby Yale University. Because of the local theater scene, the hotel attracted a multitude of famous actors over the years, such as Katharine Hepburn and Alec Guiness. According to the book, "Hidden History of New Haven," famous guests at the hotel have included the likes of Woodrow Wilson, Albert Einstein and Babe Ruth. Nolletti earlier this year was also in- volved in the sale of a three-property mul- tifamily portfolio totaling 234 residential units for $48.9 million. One of the properties included in the deal was the Liberty Building, at 152 Tem- ple St., New Haven. It has 123 units and was converted into an apartment building in 1999. Also included in the deal was the 65-unit Hamden Centre, a four-building property constructed in the 1970s. e third property was the 46-unit Dogwood Hill Apartments in Hamden, built in 1975. Carol Horsford, Owner & Broker, Farnam Realty Group Carol Horsford leads the New Hav- en-based Farnam Realty Group, which has grown since she launched it in 2011 to include a staff of two dozen. Horsford, an Elm City native, has been working in the real estate industry since 2007. She started out as a project manager for a large residential landlord company, and she later was promoted to director of leasing and operations. Since starting her own company more than a decade ago, Horsford has been involved in many high-profile properties in the region. Horsford has served as broker for e Elm, an upscale apartment complex that opened late last year at 104 Howe St., New Haven. e complex houses 44 units in six stories, with amenities such as a 24-hour fitness center, rooop lounge, picnic area and dog park. It has apartments ranging in size from studios to four-bedrooms. When the complex first opened, Hors- ford predicted continued growth in the luxury rental sector. During her career, Horsford has been involved in several multimillion-dollar deals, such as the sale of a $6.5 million, 52-unit apartment community in Ham- den next to Southern Connecticut State University. Horsford is also the principal of New Haven-based Farnam Gardens & Grounds LLC, which provides landscap- ing services, from general upkeep to snow removal, gutter-cleaning, lawn care and garden maintenance. Prior to becoming a real estate broker, Horsford worked as a marketing brand manager in New York City for cosmetics companies L'Oreal and Lancôme and for Christie's Auction House. Horsford specializes in helping Section 8 participants find safe and affordable housing and helping nonprofits find space for their operations. Horsford is a member of the Greater Fairfield Board of Realtors and New Haven and Middlesex Board of Realtors. David Goldblum, Principal & CEO, The Hurley Group David Goldblum is the head of the New Haven-based real estate develop- ment and property management firm e Hurley Group. e firm handles properties through- out New Haven and Fairfield counties, with a portfolio of commercial and residential sites. David Goldblum has been handling the daily operations of the company since 1996. As its leader, he has spearheaded the geographic expansion of the compa- ny's portfolio, which originally had been concentrated in the Stamford area. Since then, it has acquired and devel- oped office, industrial, retail and mixed- use properties throughout southern Connecticut. e Hurley Group's portfolio has grown to over 1 million square feet of office, retail, industrial, warehouse, flex/creative space and apartments, according to its website. Its portfolio includes spaces in communities from New Haven to Newtown, Wallingford, Southbury, North Haven, Hamden, West Haven, Stamford, Oxford, Wolcott and Waterbury. In September, officials cut the ribbon on Hurley Group's development, the new Elm City Bioscience Center, at 55 Church St., in New Haven, which is now home to bioscience companies working on life-saving treatments for diseases such as cancer. Space for the area's burgeon- ing life sciences industry has been in high demand. e Hurley Group owns and manages the center, which has attracted bioscience tenants such as Modifi Bio and Siduma erapeutics. e spaces include brand-new laborato- ries designed by New Haven architecture firm Svigals + Partners. e Hurley Group aims to make the center "a community for fast-growing companies graduating out of the area's incubators and other smaller spaces," Goldblum said when it opened. e new center has approximately 113,000 square feet of space, including both offices and labs. Renovations started in August 2021 to make the building suitable for laboratory use. Kevin C. Geenty and Kristin Geenty, The Geenty Group It's been a busy year of making deals for Kevin C. Geenty and Kristin Geenty, the father-daughter team behind e Geenty Group, Realtors, in Branford. is fall, Kristin represented the buyer of a 14,400-square-foot industrial building on 3.2 acres at 320 Soundview Road in Guilford, which sold for about $1.4 million. e buyer was Daniel Secondi- no of Premier Building Associates, a roofing contractor. In a large-acreage deal, Kevin was the sole broker when the U.S. Fish & Wildlife Service purchased a 21.92-acre parcel in Westbrook for $263,000. e undevel- oped property, at 551 Old Clinton Road, is adjacent to the 340-acre Salt Meadow Unit of the Stewart B. McKinney National Wildlife Refuge. e government at the time announced its plans to conserve the land. e pair handled the lease of 29 Sound- view Road in Guilford, a 2,238-square- foot space, to a kitchen-equipment supply business, American Marketing International LLC, which helps customers design and install commercial kitchens in restaurants, hotels and office buildings. e company's clients have included large chains like Dairy Queen, California Pizza Kitchen, Burger King, Chili's and Hilton Hotels. Kevin recently served as sole broker when Art Matters Studio LLC and owner

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