West Hartford, CT Avison Young has purchased 430 New Park Ave., a 24,000 s/f, two-story professional office building, from New Park Avenue Associates LLC. The sale price was $1.15 million. The building most recently served as the administrative headquarters for CTfastrak, Connecticut’s first bus rapid-transit system.
Avison Young principal Andrew Filler represented the seller in the transaction, and Goman York represented the buyer. The office building sale was part of a larger 5.8-acre site that was originally put on the market for sale. The remaining three-acre parcel, also listed by Avison Young, is being offered for sale with an asking price of $1.6 million. The remaining site includes a 26,000 s/f retail building and an 8,000 s/f industrial storage facility, and is in a prime location for redevelopment. Located directly off the I-84 Flatbush Ave. exit, just minutes from downtown. The site is also located along the CTfastrak Bus line, adjacent to the Flatbush Ave. Station.
“With the sale of the office building, this transaction provides New Park Avenue Associates with a great opportunity to market the remaining 3-acre parcel to retail developers and users,” said Filler.