December 15, 2017
Hartford, CT Steve Pappas of the Hartford office of investment broker Chozick Realty Inc. has completed the sale of Mark Twain, Candlewood and Cardinal Hill Apartments. The sale price was $6.75 million for the three complexes sold.
Mark Twain Apartments, located at 367-381 Farmington Ave., Hartford, consists of 65 apartment units adjacent to the historic Mark Twain House, and only blocks from Aetna Insurance and the St. Francis Hospital complex. The unit mix of this offers 6 studios, 43 one-bedroom, 15 two-bedroom and 1 three-bedroom units. Mark Twain Apartments sold for $2.6 million.
Candlewood Apartments, located at 123-131 Clinic Ave., New Britain, consists of 40 apartment units on a 1.66-acre site. The apartments 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 Ave., New Britain, consists of 29 apartment units all having private balconies. The apartments are all large studio units. Cardinal Hill Apartments sold for $1.5 million.
Chozick Realty marketed the properties generating multiple competitive offers on behalf of the owners. “The interest the brokers at Chozick Realty generated 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