Robert Cole, senior vice president of Arnold Peck's Commercial World in Milford specializing in investment properties, recently closed on the sale of 287 Norton St. The property consists of 28 units - 22 two-bedroom and six 1-bedroom apartments, all with separate utilities. All the units have hardwood floors.
The seller, BD&H Norton LLC, recently replaced all the windows and converted one large central boiler with 28 separate gas furnaces. Due to the current economic conditions, the marketing of the property took 18 months.
Sam Hecht, a prominent investor in New Haven property, purchased the property for $1.5 million.
In another transaction, Cole leased 855 Orange Ave. in West Haven. The 4,500 s/f free standing building, formally Joy's Buffet, has been leased to Dollar Zone, a regional chain. The building is owned by Hyde Realty and is located on the front part of an 11-acre commercial plaza.