Home News Jackpot! Liberty Building Sells For $29M

Jackpot! Liberty Building Sells For $29M

by admin
0 comment

Thomas Breen Photo

Liberty’s apartment on Temple Street.

LinkedIn photos

Seller Gideon Friedman: $ 11 million above the city’s rating.

The 124 Liberty apartments on Temple Street sold for $ 29.1 million, making it the latest large-scale downtown housing complex that surpasses the city’s value by millions of dollars.

This is due to the city’s online land record database. See below for a complete summary of recent local real estate sales.

June 15th, 4 Related Holding Companies — Cue Liberty LPCuribati Chick 2 LLCCuribati Chick 3 LLCAnd Cue Liberty Chick Four LLC— I bought a 7-story 124-unit apartment from the holding company Ansonia Liberty at 148 – 152 Temple St. for $ 29,150,000. LLC ..

The property was last sold for $ 7.7 million in 2001, and the city recently rated the property for $ 18,035,900.

This means that the Temple Street apartment building sold 61% higher than the revaluated city’s valuation. This determines how much the real estate owner should pay with the local tax.

The selling price of the meteor echoes The recent sale of 198 Taft Apartment Towers nearby on College Street was $ 52.5 million.Or doubles its city rating.

click here, here, here When here For other recent examples of large local residential or commercial complexes that are sold well beyond their value in their respective cities.

Thomas Breen Photo

The new owner of Liberty’s apartment is partnering with a real estate company called Cue Residential, based in Lakewood, NJ. According to the city’s land record database, the $ 22 million mortgage loan that a cue residential company received from a New York community bank on this Temple Street property on June 10 was signed by an investor named David Klein. rice field.

Meanwhile, the seller of this property is affiliated with New York City-based real estate company Beachwold Residential. This Temple Street real estate transaction guarantee certificate was signed by an investor named Gideon Friedman. Gideon Friedman’s LinkedIn page identifies him as an administrative member of Beachwold Residential.

Representatives of Cue Residential and Beachwold Residential did not respond to requests for comment by the time this article was published.

according to National Register of Historic Places Recommendations for Chapel Street Commercial Historic District since 1983Liberty Building — Previously YMCABuilding — Built in 1903 in the Beaux-Arts style. This is part of the general architectural trends of the time, including the remodeling of the Union League Club on 1032 Chapel Street.

according to A recent New Haven Biz article on the sale of Liberty Building and other nearby apartmentsTransactions are Institutional Property Advisors (IPA ), This was also involved in the recent sale of Taft’s apartment. The Liberty Building, which once had an office (including one desk in Hartford Courant, New Haven) and an underground hairdresser, was converted into an apartment in 1999. The federal government has successfully prosecuted the overseen developer. conversion, Melvin WeintraubAfter his workers dumped asbestos on the West River.

Real Estate Summary: Mandy Gets 26 More Apartments For $ 2.3 Million

169 Clay St., now owned by Mandy’s affiliate.

In other recent local real estate transactions:

• Affiliate Local Megaland Roadmandy Management We spent an additional $ 2.3 million to buy six different properties, including 26 different apartments in Annex, Fairhaven, Cedar Hill, and Fairhaven Heights. They include 11 unit apartments at 61 Warwick St., 4 homes at 294 Quinnipiac Ave., 3 homes at 169 Clay St., and 3 homes at 118 Cedar Hill Ave. -539 Single-family homes on Quinnipiac Ave. and 3-family homes on 300 Quinnipiac Ave.

in the meantime, A June 29 rating agency analysis of commercial mortgage-backed securities released by one of Mandy’s major investors provides yet another detailed study of how Mandy’s local real estate empire operates. Offers. The report analyzes 47 local properties, including 184 different Mandy-managed apartments covered by a $ 15.6 million mortgage loan received by Mandy’s affiliates from Corevest American Finance in February. According to the report, these 184 apartments occupy 90.2%, with an average monthly rent of $ 1,101, an average size of 941 square feet, and a building age of approximately 100 years. (click here going to PDFSee page 39 to read the Mandy-specific section of the pre-sale report.And click here When here To read a previous article about Mandy’s financial support by Corevest, and what these financial industry reports are, revealing about Mandy’s local business. )

• On June 6, Amit and Shikha Khandelwl purchased a single-family home from Constant La Palombara at 50 Huntington Street on Prospect Hill for $ 1,110,000. The property was last sold for $ 376,000 in 1987, and the city finally valued it for $ 907,800.

• On June 7, a holding company managed by Levi Stone purchased a five-unit apartment at 548 Chapel St. in Wooster Square from a holding company managed by Frank D’Ostilio, Jr. for $ 950,000. , And the city finally rated it as worth $ 857,500.

• On June 16, a Darrell Hardy-managed holding company purchased a four-family home on 68 Rock Street in Cedar Hill from Tracey Blanford and Rodney Palmer for $ 375,000. The city finally rated the property for $ 374,000.

See below for a complete list of recent local real estate sales.

New Haven land record data

You may also like