Hartford Business Journal

HARTFORDBUSINESS.COM | OCTOBER 30, 2023 9 DEAL WATCH | BUYERS & SELLERS SMALL BUSINESS SMALL BUSINESS See your business shine with a 4.5% fixed interest rate and personalized support, every step of the way. In just one year, the Connecticut Small Business Boost Fund has provided $39 million in loans to over 300 small businesses and nonprofits across Connecticut. We can help yours, too. GET STARTED TODAY AT CTBusinessBoost.com tution Blvd. South in Shelton, and President Joel Rosenberg said his firm is looking to expand in the Connecticut market with additional industrial and flex property opportunities. SOUTH WINDSOR A multi-building residential complex planned for South Wind- sor's Evergreen Walk retail center has been approved by the town. Howard S. Rappaport, principal of New York-based Longleaf Devel- opers LLC, is planning to build the 165-unit Residences at Evergreen Walk project. The 31-acre site, at 151 Buckland Road, is owned by Hartford-based Evergreen Walk LLC. The development will include 12 residential buildings, the majority of which will have 10 units each. Two buildings will have five units. Two larger buildings will be four stories with 37 and 38 units. Plans call for 13%, or 21 units, to be affordable. STAMFORD Commercial real estate firm Cushman & Wakefield announced that it arranged the refinancing of Harbor Point, a four-building, 989-unit luxury multifamily portfolio in Stamford. Cushman & Wakefield said it procured $223.8 million from Greystone, a national commercial real estate finance company. The refinancing includes four loans, which are seven-year, fixed-rate Freddie Mac mortgages with 35-year amortization periods. New York-based GAIA Real Estate and four institutional partners acquired the Harbor Point properties in 2016 for about $395 million. Harbor Point is a luxury multi- family community that is part of a larger redevelopment in Stamford. It is located at 301 Commons Park South, 111 Towne St., 110 Towne St. and 120 Towne St. The buildings include a mix of studio and one-, two- and three-bedroom apartments. CHESHIRE The housing development affiliate of New York-based Vessel Technol- ogies has purchased vacant land in Cheshire for a planned multifamily apartment building. Vessel RE Holdings has paid $525,000 for 146 Realty Drive, where it will build a 70-unit apart- ment building. The project won Plan- ning and Zoning approval in May. The planned five-story building located off Route 10 will contain 66 one-bedroom units and four two-bedroom apartments. Vessel follows a set formula when designing its buildings, using similar architecture and engineering to quickly and efficiently build "attain- able" units geared toward middle-in- come residents who don't qualify for subsidized housing, but for whom luxury or even market-rate rents are out of reach. Vessel's first Connecticut project was a 30-unit building nearing completion in New London, which should be ready for occupancy by year's end, company officials said. Another project planned in Rocky Hill is Vessel's largest so far in Connecticut, with 96 units spread over two buildings. Vessel is also seeking a wetlands permit for a proposed development in Granby. WATERBURY A limited liability company headed by investor Yitzchok Kaufman recently paid $1.4 million for a 16-unit apartment building in Waterbury. The deal marks Kaufman's third significant multifamily investment in the Brass City this year. Kaufman acquired the four-story, brick apartment building at 1054 Bank St., from Waterbury-based Sivan Group 2 LLC in a deal recorded by the city on Oct. 4. The 14,800-square-foot building sits on a little more than a tenth of an acre in Waterbury's Brooklyn neighborhood. Kaufman lists a Waterbury apart- ment as his home address and a New City, New York business address, state records show. In May, another Kaufman-led LLC paid $2.9 million for a nearby 32-unit apartment complex at 1083 Bank St. Yet another LLC listing Kaufman as principal paid $2.9 million for a 61-unit apartment building at 71 Plaza Ave., in Waterbury in September. A Kaufman-led LLC paid $2.55 million for a 32-unit apartment building in nearby Torrington in January.

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