Home Sales Improving

Hartford:  The Warren Group, publisher of the Commercial Record reported that single-family home sales in the Nutmeg State rose 4.1 percent in June.

This June, a total of 3,506 single-family homes sold in Connecticut compared with 3,368 sold in June, 2015. This marked the highest number of sales in nine years since June, 2007, when 3,658 homes sold. Year-to-date, sales were up 17.8 percent with 14,419 transactions, compared with 12,240 during the same timeframe a year ago. The median price of a single-family home in Connecticut rose 1.5 percent in June to $269,000, compared with $264,900 a year ago. This is only the second increase in the median price in 15 months. Year-to-date, prices have decreased by 1.2 percent to $242,000 compared with $245,000 during the same time a year ago.

NEWS

Orange: New Haven resident Diana Cipriani has joined Colonial Properties, Inc. as the residential and commercial brokerage’s newest team-member. Cipriani is a licensed realtor and has worked in various New York-based non-profits. She holds a Masters Degree in International Affairs and Economic Development from The New School in New York City and is fluent in Spanish. President of Colonial Properties, Michael Richetelli, says his firm is seeing several indications of the high demand for real estate in downtown New Haven. 

New Haven: Fred A. Messore, a Senior Vice President with Colonial Properties, Inc. represented buyer Pike International in the purchase of a 3,678 square foot commercial building at 27 High Street which it intends to convert into residential apartments. The building, which is on .09 acres of land was sold for $900,000 from University Lutheran Ministry of New Haven, who was represented by Jack Hill of Seabury Hill Realtors

New Haven: 47 Trumbull Street owned by Lincoln’s Inn Associates for the past 40 years was sold to 47 Trumbull LLC. The new owner plans to do some cosmetic upgrades to the property and lease the offices out to multiple tenants, according to Stephen Press, a Principal with real estate company Press|Cuozzo who represented the seller in the transaction. The building, which houses 3,829 square feet of office space, sold for $530,000. 

Westport: HK Group, a commercial real estate firm based in Westport, announced five lease deals completed by Franco Fellah, the company’s executive vice president.  Nefer Fresh Spa also in Westport leased 2,000 square feet of downtown retail space at 141 Post Road East. The business is expected to open in late 2016.

OneDX LLC, a medical software company, leased 1,000 square feet of office space at 10 Saugatuck Avenue, Westport.

Flora Levin, an ophthalmologist specializing in oculofacial cosmetic, reconstructive surgery, leased 1,350 square feet of medical space in the Willows Medical Complex at 131 Kings Highway North in Westport.

Wilton: Emmanuel’s Kitchen and Bath leased 2,109 square feet of retail space at 1 Danbury Road. The company’s showroom opened in June. Also in Wilton, Alex and Leo, a delicatessen, leased 1,102 square feet of retail space at 17 Danbury Road. The space was previously occupied by a Blimpie submarine sandwich shop.

Hamden: Virginia Shea has leased 3,600 SF of commercial space at 21 Pershing Street in Hamden for an Athletic Training Facility and Simulated Golf. The tenant signed a one year lease with a value of $20,000. The landlord is Elm City Management and The Proto Group was the sole broker.

Derby: Pet Valu Inc. has leased 3,200 SF of retail space in the Aldi anchored shopping center on Pershing Drive in Derby. The 10 year lease was valued in excess of $675,000. RHYS Commercial represented Pet Valu Inc. and The Proto Group represented the landlord, Pershing Partners, LLC. 

Wallingford: Shimmer, a new salon leased 1,100 SF of retail space at 775 North Colony Road in Wallingford. The tenant signed a 5 year lease with options, the value was in excess of $75,000. D’Angelo’s Real Estate is the landlord and the Proto Group, LLC was the sole broker in the transaction.

Old Saybrook: John Cafasso of Colliers International’s Hartford Office represented SBS Properties LLC of Madison in its sale of 599 Middlesex Turnpike in Old Saybrook, to 599 Middlesex, LLC. The purchase price was $1,085,000. The building will be converted to medical use and The Proto Group LLC represented the buyers.

New Haven: Kate’s Klips has signed a five year lease for 1,539 square feet at Amity Plaza Shopping Center, 172 Amity Road, New Haven. Kate’s Klips will operate Great Clips in the location. Dan Charest of Acre Group represented the landlord Wellmakara LLC. The Proto Group represented Katie’s Klips.

Cheshire:  Brian Godin of Godin Property Brokers, recently represented both parties in the sale of a 2,000 square foot Office/Warehouse Condominium located at 325 Sandbank Road, Cheshire . The buyer is a local investment group

Waterbury: Ed Godin Jr, SIOR of Godin Property Brokers, represented the buyer in the $325,000 sale of a 60,000 square foot industrial facility on 3.5 acres at 15 Boyden Street in Waterbury. The former commercial uniform and laundry facility is well located with excellent access to Interstate 84 and Route 8 Highway. The new buyer, Riverbank Construction, is an investor with other Connecticut holdings. They are renovating the facility and repositioning it for multiple tenants. Godin Property Brokers has also been retained to provide the marketing and leasing of the project. The seller was G & K Services Inc.

Fairfield: David Cervero, associate vice president and Ralph Michel, senior vice president of HK Group completed the sale of the property at 348 Black Rock Turnpike. for $1.3 million.  The property consists of a 2,663 s/f restaurant known as Black Rock Oyster Bar & Grill. 348 Black Rock Turnpike sits on .25 acres.  The Black Rock Oyster Bar & Grill was active at the time of the sale. The sellers were FCCW, LLC and Baylor LLC and the buyers were Ahabs Table LLC and Black Rock SoHo, LLC.  The buyer will continue to operate the restaurant/bar under a new name. Michel and Cervero represented the buyer.  Audrey Longo of Guttman Realty Advisors represented the seller.

Fairfield: Angel Commercial, L.L.C., completed the sale of a 24,866 s/f commercial office building located on 1.05 acres at 418 Meadow St. for $2.9 million. Senior vice presidents at Angel Commercial, Brett Sherman, CCIM, represented the seller, and Lester Fradkoff represented the buyer. Owned by BAO Partners, LLC, the building was purchased by Julian Enterprises, headquartered in Milford.

West Haven: Kristin Geenty, SIOR, President of The Geenty Group, Realtors and Arnold Grant, MAI of Arnold J. Grant Associates announce the Sale of 5 Water Street, West Haven, Connecticut, known, since 1953 as the Headquarters of the Bilco Company.  

Kristin Geenty represented members of the initial development team, Sheldon Gordon and Matt Armstrong, known collectively as The Haven, LLC, who purchased the Bilco property as the key parcel to their future development: The Haven, a proposed upscale outlet mall.  The Three Acre property with 116,000 square feet of office and manufacturing buildings sold for $3,100,000.00  in January of 2016.

Milford: The Geenty Group, Realtors, reports a lease of 800 SF at 225 Research Drive, Milford. The tenant is Guy Presler of Cali Customs, LLC. The Tenant will use the space for his screen printing business for T-shirts and the like. The landlord is D’Amato Investments, LLC. Bill Clark, Senior Vice-President at The Geenty Group, was the sole agent in this transaction.

North Haven: DanMar Construction, which specializes in building construction and renovation, has leased office space at 88 Old Broadway in North Haven, in a deal brokered by Levey Miller Maretz. Steve Miller, principal at Levey Miller Maretz, represented both the tenant and the landlord in the deal. DanMar Construction leased 480 square feet of office space from Mario Gambardella. DanMar is a family owned and operated construction firm that also offers full design services.  The company does ground-up work, as well as remodeling, excavation, additions and roofing for residential and commercial properties.

New Haven: A new barbecue restaurant has opened in downtown New Haven, thanks to a deal brokered by Levey Miller Maretz. Shawn Reilly of Levey Miller Maretz represented the buyer and the seller in the deal, in which Albert Greenwood and Associates bought the business at 969 State Street for $75,000. The 1,200-square-foot site previously housed C.O. Jones Mexican Restaurant for more than a decade. The buyer has opened Bull & Swine New Haven Barbecue at the site, and also operates nearby Oak Haven Table & Bar on State Street.