News: Front Section
Posted: October 13, 2023
Filippidis and Connor of Horvath & Tremblay
broker $5 million sale
Bethel, CT Stavros Filippidis and Tom Connor of Horvath & Tremblay have completed the sale of Volpintesta Crossing, a 26-unit mixed-use property. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $5 million.
Volpintesta Crossing is a new construction mixed-use property comprised of five in-line mixed-use buildings with 26 total units including nine commercial units on the first floors and 17 residential units on the upper floors. The residential units consist of 14 one-bedroom/one-bathroom units, two one-bedroom/one-bathroom plus loft units, and one three-bedroom/two bathroom unit.
The property contains 21,763 s/f of living area in 23,411 s/f of total gross area and sits on a 0.6-acre parcel. Four of the five buildings were constructed in 2022 and the fifth building was originally constructed in 1880 and was renovated in 2022.
The property is located in the center of town in the Greenwood Historic District. The property is located along Greenwood Ave. adjacent to the village center, providing convenient, walkable access to area shopping (Caraluzzi’s - the area’s primary grocery store, Ace Hardware, CVS, Snap Fitness, and several liquor stores), numerous dining options, municipal offices, and the Bethel Train Station with service to New Haven or New York’s Grand Central Station (0.5-miles away).
The property is close to CT Rte. 53, the area’s primary commuter thoroughfare and offers access to Western Connecticut State University’s main campus (3-miles), Danbury Hospital (3.7-miles), and the Danbury Fair Mall and I-84/CT Rte. 7 interchange (4-miles) providing access to all areas of the state. The property is also located on the Municipal Bus Line (HART) with service throughout Bethel, Danbury and the surrounding towns. Additionally, I-84 and US Rte. 7 are close by.
Tags:
Front Section
MORE FROM Front Section
Front Section
McEvoy of The Conrad Group brokers $2.9 million sale of industrial building
Hingham, MA The Conrad Group has brokered the sale of 55 Research Rd., South Shore Park. The property consists of a 20,340 s/f single story manufacturing building on two acres of land.
Quick Hits
Columns and Thought Leadership
The doctor is in: How medical leases differ from retail and office spaces - by Brian Cafferty
As healthcare facilities, often referred to as “Doc in a Box” clinics, increasingly move into traditional retail spaces, landlords are more frequently leasing to medical tenants. Unlike standard retail or office leases, medical facilities come with a unique set of considerations that must be carefully addressed to ensure a successful tenancy.
5 Questions to ask when choosing a real estate broker - by Elizabeth Perez Barlett
>They say, “April showers bring May flowers,” but this season may bring more movement in the housing market as springtime is one of the most popular times for home buying and selling. Although spring is one of the strongest seasons for the residential market, it may not be all rosebuds and butterflies if you don’t have the right advisors.
It’s time to get creative with closed college campuses - by Christian Koulichkov
Facing higher costs, shrinking enrollments, reduced state funding and severe demographic headwinds, many colleges and universities in New England and the Northeast are fighting for survival. The latest to lose the battle is the 150 + year old University of the Arts in
Investing in a falling rate environment - by Harrison Klein
Long-term interest rates have fallen by 100 basis points, and the market is normalizing. In December of 2022 I wrote an article about investing in a high interest rate, high inflation market. Since then, inflation has cooled off, and the Fed has begun lowering their funds rate.
