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Most of the dwellings that comprise the 188-unit Avon Place condominium have sold to a Brooklyn, New York real estate investor. The transaction involved 164 units, or 87% of the total, which were sold to Avon Place LLC, controlled by Ahron Rudich of Empire Realty USA, for $33.75 million. The sale was recorded Oct. 3. Institutional Property Advisors, a division of Marcus & Millichap, brokered the deal.
Six Manchester apartment complexes with a combined total of 418 units recently sold for $65.7 million. The sales, all recorded Aug. 26, were immediately preceded by a division of interests in the complexes between West Hartford apartment investor-operator KWK Management and two unnamed partners.
The Folly Brook Manor apartments in Wethersfield are under new ownership. According to information provided by the Wethersfield Town Clerk’s office, the 184-unit complex on Folly Brook Boulevard sold Dec. 9, for $24,720,000. Wethersfield Folly Brook LLC transferred the property to Folly Brook Apartments LLC. Folly Brook Apartments LLC was formed in Delaware in November, and is controlled by Folly Brook JV LLC, state business records indicate. It has a listed address in Lakewood, New Jersey.
Herald Realty Sells Niche Asset in Connecticut Herald Realty Sells Niche Asset in Connecticut The deal includes approvals to add another 32 units as well as amenity and outdoor terrace space to the property. May272021 Image courtesy of Institutional Property Investors Institutional Property Advisors has brokered the sale of 100 Prospect Apartments, a 94-unit luxury community in Stamford, Conn. According to Yardi Matrix data, the previous owner was Herald Realty Management. The company paid $18.4 million for the asset in 2016. Located at 100 Prospect St., the proper...