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| Stony Brook Village Apartments, 140 Mill Street, East New Haven, CT |
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| Victor Nolletti |
The $21.05 million sales price equates to $127,500 per unit.
IPA executive directors Steve Witten and Victor Nolletti, and Marcus & Millichap associate Wes Klockner were the sole brokers in
the transaction. The seller is HP Stony Brook LLC and the buyer is Par Stony
Brook LLC.
“Stony Brook Village is a
transit-oriented multifamily asset in a suburban location that offers the new
owner a value-add opportunity through the implementation of a modest renovation
program,” says Witten.
“Situated in a quiet, wooded,
country setting at 140 Mill St. in East Haven, the property is on a Connecticut
Transit bus line, two miles from interstates 91 and 95, and five miles from the
New Haven Metro-North Railroad station and Tweed New Haven Regional Airport,”
adds Nolletti.
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| Steve Witten |
The property borders the Foxon Road retail corridor, which includes a recently opened ShopRite supermarket that is within walking distance.
Apartment Homes at Stony Brook
Village average 980 square feet and 70 percent have two bathrooms.
The open floor plans feature ‘euro-style’ kitchens, separate dining areas with natural light, wall-to-wall carpeting, full-size washer and dryer connections, private balcony area or patio, six-panel doors and large walk-in closets with organizers.
The open floor plans feature ‘euro-style’ kitchens, separate dining areas with natural light, wall-to-wall carpeting, full-size washer and dryer connections, private balcony area or patio, six-panel doors and large walk-in closets with organizers.
Community
amenities include a fitness center and swimming pool with sundeck area; a
resident clubhouse with community room, business area, and library; a leasing
center with private offices, and a designated dog walk and exercise area.
For a complete copy of the company’s
news release, please contact:
Gina Relva
Public Relations Manager
(925)
953-1716
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