Chozick and Pappas of Chozick Realty completes $6.7 million sale of Sumner House Apartments

Hartford, CT Rick Chozick and Steve Pappas of Chozick Realty have completed the sale of Sumner House Apartments, an 80-unit multifamily community located at 57 Sumner St. in the Asylum Hill neighborhood. The sale price was $6.7 million or $83,750 per unit.

Built in 1970, the property features garage parking and a unit mix of 18 studios, 29 one-bedrooms, 32 two-bedrooms, and a three-bedroom, three-bathroom penthouse that was built as the home for the original developer. Most apartments include exposed brick walls and private balconies.

“Sumner House is a well-maintained property that combines character with strong performance,” said Steve Pappas of Chozick Realty. “Its solid construction, in-place income, and value-add potential make it a compelling opportunity.”

Rick Chozick added that the location adjacent to employers such as The Hartford Insurance Group and Aetna, as well as being on the edge of downtown is attractive for residents in the area.

The interest in the property using Chozick Realty’s regional marketing platform resulted in multiple offers within the first week of marketing with a successful outcome for both the seller and the buyer.