NewHavenBIZ

n e w h a v e n b i z . c o m | D e c e m b e r 2 0 2 2 | n e w h a v e n B I Z 23 B u y e r s & S e l l e r s begin in the spring and will likely take upwards of 18 months to complete. e former Chick's building, which closed in 2015, will not be demolished, and it is separate from the housing project, according to Marone. New Haven Local real estate investors have pur- chased six new residential sites in New Haven's Howe Street area for a com- bined $34.6 million. According to city land records, Broadway Elm LLC and Josef and Jacob Feldman of MOD Equities, bought six properties containing 145 apartments at 61 and 65 Edgewood Ave., and 94, 98, 100 Howe St., from Broadway Living LLC. Property at 104 Howe St. was sold to the duo by Elm Property Owner LLC. Both deals were recorded Nov. 3. 100-104 Howe St., New Haven. PHOTO | GOOGLE New Haven Chapel Street Los, a 36,000-square- foot, four-story multifamily property with 23 apartments at 441 Chapel St., in New Haven, was sold on Oct. 25 for $5.2 million by 441 Chapel Associates and principal Joseph Cohen. e buyer is New Haven-based Wooster Los LLC, and principal Yoon Lee. Marcus & Millichap Capital Corpo- ration arranged a $3.64 million loan for the property, which has an appraised value of $3.15 million. Built in 1900, Chapel Street Los is an adaptive reuse property that has been converted to multifamily. Origi- nally, the building was constructed for light industrial uses. 442 Chapel St., New Haven. PHOTO | COSTAR New Haven/Stratford A three-property portfolio with almost 500 units, including multifamily sites in New Haven and Stratford, sold for $117 million. e properties include 158 units at Winchester Los on Winchester Avenue in New Haven; 128 units at 1111 Stratford Apartment Homes on Stratford Avenue in Stratford; and 195 units in River Los at Ashton Mills in Cumberland, R.I. e sale price averaged $243,243 per unit, according to Institutional Property Advisors, which announced the sale and helped broker the deal. Winchester Lofts in New Haven. PHOTO | CONTRIBUTED Branford Local medical associates are propos- ing to build a research facility on vacant land along Route 1 in Branford near the North Branford and Guilford borders. Dr. omas Abbenante and James W. Biondi, principals, filed an application to the Branford Planning and Zoning Commission on behalf of 819 East Main St LLC for a special permit and site plan review to build new corporate offices with research and development facilities at 819-841 East Main St. Abbenante and Biondi are both affil- iated with Branford-based Ivy Biomed- ical Systems Inc., with Biondi listed as president. e property is currently vacant land, formerly orchards, owned by Sullivan Farm LLC of Guilford and principal James J. Sullivan. It's located in the town's restricted business zone, where uses such as offic- es and research facilities are permitted by special exception. Research and development at the building will be in the field of medtech, specifically the development of custom engineered medical devices for diagnos- tic and interventional applications. e land totals 6.88 acres in Bran- ford, with a small area in North Bran- ford, and approximately 2.48 acres in Guilford. All proposed development for the roughly 30,000-square-foot building is on the Branford parcel. e develop- ment would house general and admin- istrative offices, product development and testing space, storage space, confer- ence rooms, and information technol- ogy, with roughly 48 employees, and up to two dozen more jobs created over time, according to the application. 819-841 East Main St., Branford. PHOTO | LOOPNET West Haven About half of the condominiums at West Haven's Terrace Heights Condos recently sold for $3.4 million. e complex is at 5 Treat St., and the deal included three units with one bed- room and one bathroom, and 32 units with two bedrooms and one bathroom. According to the listing, the sale was for 35 out of 78 condominiums in the complex. Terrace Heights, originally built in 1961, features open floor plans, hard- wood flooring, white Shaker kitchen cabinetry and modern hardware in the kitchens and baths. e property has a large central courtyard and two community laundry facilities. Northeast Private Client Group in Shelton handled the deal. e seller was CT Realty Trust and the buyer was Euro Estates LLC, according to the agency. Branford A multiunit, mixed-use development in Branford is expanding by one building, and will still include 5% affordable units. e Planning and Zoning Commission recently granted a modification to a planned development district where Robert H. Smith Jr., owner and applicant for Metro 375 LLC, is currently building a seven-building complex with 188 units, commercial and office space at 367, 373, 375, 377 and 383 East Main St. In December 2020, he was granted approval to establish the Metro Planned Development District and build 144 units over six buildings, with eight units deemed affordable. In March 2022, Smith wanted to add another parcel, 383 East Main, to the project, along with another 44 units. In June 2022, the parcels were merged into one property owned by Smith. PZC members then requested the project have a total of 11 affordable units, but Smith more recently requested 10. n Largest Greater New Haven industrial property sales Here are some of the largest industrial building sales in the region dating back to Aug. 1, 2022. Sale price Property address City Building sq. ft. Land (acres) Year built $5,603,375 1255 W Broad St Stratford 76,979 4.73 1947 $5,500,000 312 Woodmont Rd (Part of Portfolio) Milford 29,776 3.54 1985 $3,400,000 115 Hood Ter West Haven 59,170 4.36 1988 $2,300,000 16 Business Park Dr Branford 29,547 1.77 1985 $1,800,000 100 Sanford St Hamden 26,868 2.34 1950 $1,390,000 320 Soundview Rd Guilford 14,000 3.22 1971 $1,300,000 670 Lordship Blvd Stratford 12,686 1.53 1980 $1,225,700 497 Bic Dr Milford 12,686 2.25 1974 $1,000,000 80 Hamilton St New Haven 17,848 1.30 1965 $775,000 30 Hood Ter West Haven 8,682 2.27 1965 $725,000 299 Chapel St New Haven 7,250 1.02 1969 $560,000 5 Philip Pl North Haven 8,240 0.55 1962 $475,000 101 Gulf St Milford 8,842 0.35 1880 $395,000 288 Knowlton St Bridgeport 9,540 0.34 1910 $114,000 251 Roosevelt Dr Derby 12,000 1.73 1920 Source: CoStar 5 Treat St., West Haven. PHOTO | CONTRIBUTED

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