January 06, 2011
Ryan Perkoski of the Hartford office of Chozick Realty, Inc. has arranged the sale of 51 Imlay St. for $1.175 million. Built in 1920, 51 Imlay St. is a courtyard style apartment complex. During the late 1980s the property was renovated and improved for condominium conversion, but never brought to market for individual unit sales. Apartments have their own central HVAC systems, gated on-site parking and laundry facilities. At the time of the proposed condominium conversion the property and apartments were brought to condominium standards and have been maintained at that level ever since, according to Perkoski.
Located across the street from the Aetna Insurance Company and the Lincoln Culinary Institute, the property is very well located and maintains a high occupancy on a consistent basis. At the time of sale, the property was 100% occupied. The unit mix consists of 18 one-bedroom and 12 two-bedroom apartments.
This is the second time Chozick Realty has facilitated the sale of 51 Imlay St. The first was for Bristol Savings Bank in 1994 to the current seller of the property.
Paul Sciarra and Dick Buckley of Prudential Connecticut Realty represented the seller, Lord Commons Apartments LLC, and Perkoski represented the buyer, Imlay Hartford LLC.