Hartford's Mark Twain Apartments Fetch $2.6 Million In Sale
HARTFORD: It was a good year end for Steve Pappas of the Hartford office of investment broker Chozick Realty Inc. who managed the sales of Mark Twain, Candlewood and Cardinal Hill Apartments bringing a combined price of $6.75 million.
Mark Twain Apartments, located at 367-381 Farmington Avenue, has 65 apartment units and is adjacent to the historic Mark Twain House, and only blocks from Aetna Insurance and the St. Francis Hospital complex. The unit mix of is 6 studios, 43 one-bedroom and 15 two-bedroom and 1 three-bedroom units. Mark Twain Apartments sold for $2.6 million.
Mark Twain Apartments,
Candlewood Apartments, located at 123-131 Clinic Avenue New Britain, has 40 apartment units on a 1.66-acre site, and are all two-bedroom units. Significant upgrades have occurred over the past few years including many remodeled kitchens, baths and new roofs. The complex sold for $2.65 million.
Cardinal Hill Apartments, located at 265 Kensington Avenue, New Britain, has 29 apartment units all having private balconies. The apartments are all large studio units. Cardinal Hill Apartments sold for $1.5 million.
Chozick Realty says, “ the properties generating multiple competitive offers on behalf of the owners, adding, “the interest demonstrates the strength of the Hartford & New Britain markets and the strong rental upside through continued apartment renovations and unit reconfigurations,” said Pappas.
Chozick Realty represented the sellers in all three complexes as well as procured the purchaser, Up Realty LLC, a New York based investment group.