Baldwin Pearson & Company closes $2.05 million sale of five-unit mixed-use property

New Haven, CT Baldwin Pearson & Co., Inc. has completed the sale of 1150 Chapel St., for $2.05 million in an all-cash transaction.

The five-unit mixed-use property is located between York and High St. downtown and consists of four residential apartments and a restaurant space. The property was delivered vacant at closing, providing the buyer with the opportunity to immediately reposition the asset.

The final transaction price represents $410 per s/f and $410,000 per unit, highlighting continued investor interest in well-located mixed-use and retail focused properties.

Daniel Shawah of Baldwin Pearson & Co., Inc. represented the seller and procured the buyer in the transaction.

“1150 Chapel St. is an excellent location in the heart of Downtown New Haven, and we’re excited to see what the new ownership has planned for the property,” said Daniel Shawah of Baldwin Pearson & Co., Inc. “With its combination of residential and commercial space and its prime downtown setting, the property presents an exciting opportunity for its next chapter.”

“This transaction involved a number of obstacles along the way, but through consistent communication, collaboration, and a shared commitment to getting the deal across the finish line, the parties were able to successfully bring the sale to a close,” said Shawah. “Transactions like this underscore the importance of having experienced professionals working together to navigate challenges and find creative, realistic solutions.”