Bloomfield, CT Rick Chozick and Steve Pappas of the Hartford offices of investment broker Chozick Realty Inc., have facilitated the sale of the 112 unit Wedgewood Apartments. The property was sold for $12 million.
Built in phases in the late 1960s on a 10.8 acre site, the property offers several floor plans and building styles including flats and townhouses. The apartments are very large and well designed, starting at 825 s/f for a one bedroom and ranging to 1,385 s/f for the three bedroom apartment. With large apartments in several styles, the property has maintained an occupancy of at or close to 100% on a consistent basis.
This is the second time that Chozick Realty has marketed and sold Wedgewood Apartments since 2010. In both cases, Chozick Realty represented the seller and procured the buyer.
In the most recent sale the seller was a family office with the buyer being a regional owner of garden apartments.