Middletown, CT Rick Chozick and Steve Pappas of the Hartford office of Chozick Realty, Inc. have completed the sale of Wilcox Apartments. The sale price was $7 million or $86,420 per unit.
Wilcox Apartments was constructed in 1989 within the Wilcox Crittenden & Co. factory. The company was a world renowned manufacturer of ship fittings dating back to the mid 1800s. The existing 1907 manufacturing building was gut renovated along with the addition of ground up construction to create the existing 81 units. Given the nature of the property, there are 11 different floor plans including flats, loft units and townhouse style apartments with vaulted ceilings and skylights. Unit sizes are very large and offer a unique living experience.
Located at 305 South Main St., Wilcox is walking distance to the town center and Wesleyan University.
Chozick Realty marketed Wilcox Apartments for only two weeks, generating multiple offers on behalf of owner, an institutional operator of apartments on a nationwide basis. The interest the brokers at Chozick Realty generated in such a short time demonstrates the strength of the local market and the strong operating fundamentals of the property.
Chozick Realty represented the seller, Hamilton Point Wilcox Investors as well as procuring the purchaser, Up Realty, a New York based investment group.
