A New York City-based developer has purchased the long-vacant Harold’s Bridal Shop property on Elm Street for $4.85 million and plans to convert the already-approved location into 96 new apartments. I plan to run it.
Its downtown property sale is one of the city’s newest local property transactions, as recorded in the city’s online land records database.
August 10, holding company Gorjian Assets LLC, BBHMore property LLCand 19 Elm properties LLC Purchased a one-story retail building from 19 Elm to 19 Elm St. LLC.
The property last sold for $1 million in 2016 and was last valued by the city at $1,275,200. This location was home to Harold’s Bridal Shop, a tuxedo, wedding dress, and other formal wear company that he operated for 70 years in New Haven. before closing in 2015.
The new owner is an affiliate of the New York City-based company hakimian organizationthe website describes it as na“New York real estate developer, owner and manager since 1970. He imbues every residential, office and hotel project the company creates with a brand of luxury real estate and prides himself on his reputation as one of New York’s premier developers. The Hakimian Organization has helped transform New York’s sophisticated metropolitan landscape through the completion of more than 30 ground-up construction and remodeling projects. ”
In an emailed comment sent to The Independent on Friday, Rex Hakimian, executive director of finance and acquisitions at the new owner, said the Hakimian Organization plans to build 96 new apartments on Harold’s property. said. Latest site approved by previous owner, affiliate mod Stocks, 2020 won.
“Yes, we are maintaining the approved plan with a few changes,” Hakimian said. na“The location and property provide us with a great canvas for creating beautifully designed and well laid out rental units. can also be desired. ”
When asked why his New York City-based organization has set its sights on housing development in New Haven, he said: na“Over the past few years, our organization has sought to expand across the East Coast.Southern CT has been a particular focus for us. With strong demand for quality rental housing, it provides a natural expansion beyond our New York hub. ”
of Special Exception Application Filed with Zoning Appeals Board in June For 19 Elm St., the then-new potential owners also wrote of their intention to implement the previously approved 96-unit site plan.
“The property owner has received site plan approval for the construction of a seven-story structure on the subject property,” said the Hakimian affiliate. Zoning Relief Application Form read. na“I used to live in this property na‘It is Harold’s Formalwear’ and has been undeveloped and vacant for nearly a decade. Approval was granted for 96 residential units and 1398 square feet or commercial space on the ground floor. Applicant intends to purchase property and build approved plans with minor modifications related to parking and loading. ”
Previous owner is affiliated company mod Equities is a local real estate company run by brothers Jacob and Joseph Feldman.
Since the Feldmans’ company first purchased the historic former formal wear property seven years ago, it has received several different approvals from various city land use commissions to convert the vacant lot into new apartments. have earned.
In 2015 they pitched Harold’s apartment remodeling plans to his downtown neighbors At a meeting of the Downtown Worcester Square community management team.
In 2017, Received site plan approval from the City Planning Commission for a plan to build 46 units of apartments In an empty old commercial area.
Then, in April 2020, they Back with City Planning Commission to Get New Approval for Larger 96-Unit Apartment Complex at that same site.
Two years later and nothing has been built yet, Feldman’s company and affiliates of the Hakimian organization are back with the Zoning Appeals Board this summer. An application to reduce the number of on-site car parks required from 35 to 24 for a planned new 96-unit apartment development. (After receiving a favorable recommendation from the City Planning Commission in August, the parking relief application BZAAMore in September. )
Mr. and Mrs. Feldman did not respond to an email request for comment by the time of this article’s publication. this independent article Of four long-delayed downtown developments, Jacob Feldman said of 19 Elm Street: na“I think we’ve come a long way to the point where we’ll be on the rise soon. ”
Elsewhere downtown, the Feldman brothers’ firm Convert the former James English Building on Court and State Streets into 39 new apartments. they also We recently sold an eight-story office building at 129 Church Street for $8 million.shortly after obtaining city permits to convert the property into 92 new apartments.
Recap: Mandy Buys 11-Room Apartment For Over $1 Million
Other recent local real estate deals include:
• July 28th, AIUEO holmes de LLCis an affiliate of a local landlord mandy managementa 6-unit apartment at 360 Dixwell Avenue and a 5-unit apartment at 96 Shelton Avenue, managed by Adele Jouber, Khaled Jouber and Mehdi Zelamdini, for a total of $1,075,000 in two different real estate deals. Purchased from a holding company.
• On July 29, a New Jersey-based real estate firm called Avalair Group purchased the Frontier telecommunications building at 310 Orange Street for $73,846,000 and signed a 20-year lease with Frontier.click here To read our previous full independent article on that deal.
• On August 4th, the City of New Haven sold its underground land. FBI Constructed the aboveground building and built the 29 Grove St. building for $2.5 million in an affiliate of Fusco Corporation, a local developer that it already owns.click here To read our previous full independent article on that deal.
• On August 5, Friends Center for Children purchased the now-closed Cine‑4 movie theater at 371 Middletown Ave. / 25 Flint St. from Soffer Associates for $1.3 million. New day care site.click here To read our previous full independent article on that deal.
• August 5, North Haven-based regional arts education organization Ace It purchased a 2.5-story office building at 388 Orange Street from Len Fasano for $975,000 and plans to turn the site into a school. na“programmatic” space after the law firm’s lease expires next year.click here To read our previous full independent article on that deal.
See the chart below for a complete list of recent local real estate deals.