July 16, 2021
Manchester, CT Rick Chozick and Steve Pappas of the Hartford offices of investment broker Chozick Realty has completed the sale of the 15-unit Mansion Apartments for $1.85 million or $123,333 per unit.
Chozick Realty represented the long-time owner of The Mansion Apartment as well as procuring the buyer. This is the second time Chozick Realty has facilitated the sale of this property.
The Mansion Apartments complex has two buildings, the first of which is an 1880’s Victorian Mansion which was once home to a member of the famed Cheney family. The Cheney fabric mills at one time employed 25 percent of Manchester’s residents during the mid 1900’s. The family owned a number of Victorian mansions in Manchester, most of which are still standing today. The 8 apartment units within the Mansion are truly one of a kind with original carved wood paneling and moldings.
along with original fireplaces and mantels dating back almost 150 years.
In 1972 the site was expanded with the addition of 8 two bedroom, 1 ½ bath townhouse apartments.
The Mansion Apartments is within walking distance of Manchester town center which is a quintessential New England commercial downtown area dating back to the turn of the 20th century.
The location, unit style and unit mix of predominantly two-bedroom apartments has served to keep the property at or close to 100% occupancy on a consistent basis.