NEW BRITAIN: The New Britain Herald reports that as soon as two months after listing the One Grove Street office complex the price was reduced by $1 million to $8.9 million
The property was purchased by its current owner 4702 Second Avenue Corp, NY for $8.2 million as the commercial markets were tanking in 2008.
Originally a factory building constructed in 1902 it was renovated two decades ago. The property is considered a grade C building by the city’s assessors and it has six stories and 106,000 square feet of office space, it sits on 4 acres.
The investment property was renovated two decades ago has leases from the State of Connecticut, New Britain OB/GYN, The Hopbrook Counseling Center, Biogas Energy Services, Baldwin media marketing owned by Ann Baldwin former Connecticut TV reporter/anchor., among others. The property’s listing indicates that the third floor is vacant and confirms the reduction in cost. D’Amato Realty LLC, in Bristol is the broker.