January 12, 2023 – Tim Hines of Horvath & Tremblay has arranged the sale of a multi-family property in New Britain, Connecticut. Hines represented the seller and procured the buyer to complete the transaction at a sale price of $480,000.
The multi-family property is located at 217 High Street in New Britain, Connecticut. The Property consists of two buildings, a three-story brick building containing six (6), residential units and one retail/office unit, and a two-story commercial building at the rear of the Property featuring two warehouse spaces. In total, the Property offers 11,452 square feet of leasable area in 17,176 square feet of total gross area. The Property benefits from ample off-street parking. The Property is being offered 100% vacant; the front building’s six residential units have been completely gutted and are plumbed. The next owner will have a blank slate with which to build out the units in a high demand residential market with solid real estate fundamentals. 217 High Street is well-located in a mixed-use neighborhood in central New Britain. The Property is adjacent to the intersection of High Street and Broad Street, one of the area’s primary commercial corridors and offers convenient access to area highways, public transportation, and retail amenities. The Property is also located 1.5-miles from Central Connecticut State University and 11 miles from Downtown Hartford.
Horvath and Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in New England. Their advisors specialize in the sale of apartment buildings, mixed-use properties and development projects. They have experience successfully structuring portfolio sales and 1031 exchanges. They have a dedicated buy side desk that provides real time inventory and market data to each individual client placing capital or fulfilling a 1031 exchange requirement. The firm is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.