October 3, 2023 – Tim Hines of Horvath & Tremblay has arranged the sale of fourteen (14) units in New Britain, Connecticut. Hines exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $1,485,000.
The two adjacent investment properties are located at 100 Broad Street and 109 Grove Street in New Britain, Connecticut. The Properties contain a total of fourteen (14) units, consisting of two (2) retail suites, six (6) 2-Bedroom/1-Bathroom units and six (6) 3-Bedroom/1-Bathroom units with 16,372 square feet of gross living area in 25,036 square feet of total gross area. The two Properties are situated on a combined 0.29-acres of land. 109 Grove Street offers ample parking in the rear of the building which is also easily accessible for 100 Broad Street. Each unit is separately metered for electricity and gas (heat and hot water), which the Tenants pay directly. The Landlord is solely responsible for water and sewer. The Properties are well-located in central New Britain. The location offers convenient access to Interstate 84, CT Route 9 and CT Route 72. CT Transit bus transportation is available on Broad and Washington Streets. Walkable amenities include Save A Lot Supermarket, Walgreens, the YMCA and CT Fastrak’s New Britain Station, which opened in 2015 and serves as a central hub for local and express bus services throughout the region. Additionally, the properties are located less than 2.5-miles from Central Connecticut State University and 12-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.