Press Release

January 9, 2026

Chozick Realty, Inc. has brokered the $4.6 million sale of Garfield Avenue Apartments, a 38-unit multifamily property located at 143–153 Garfield Avenue in New London, Connecticut, reflecting a price of $121,052 per unit.

Comprised of two three-story brick buildings this complex contains all one-bedroom apartments, in a well-maintained property with continued upside potential for rental growth.
The property’s location was a key driver of value, positioned near Southeastern Connecticut’s most significant employment centers, including General Dynamics Electric Boat, the U.S. Navy Submarine Base, the U.S. Coast Guard Academy, Lawrence + Memorial Hospital, Foxwoods Resort Casino, and Mohegan Sun.

“Garfield Avenue Apartments traded at the meeting point where stable occupancy, supply constrained rental market and regional employment growth come together,” said Jordan Pinto of Chozick Realty. “The depth of buyer interest reflected both the strength of the asset and confidence in the New London market.” New London and the surrounding Groton submarket continue to benefit from sustained economic expansion, led by billions of dollars in federal defense investment and workforce growth at Electric Boat, which now employs approximately 24,000 workers with additional hiring planned. These fundamentals have increased investor demand for well-located multifamily properties and supported favorable pricing for sellers.

Based in Hartford, Connecticut, Chozick Realty, Inc. over the past 60 years has specializes in the sale of multifamily and investment real estate throughout Connecticut and the Northeast. The firm advises both sellers and buyers through every stage of the purchase and sales process, combining market intelligence, targeted outreach, and disciplined execution to achieve optimal outcomes for both sides of the transaction.