IPA closes mixed-use property sale of Bella Vista Apartments

Ansonia, CT Institutional Property Advisors (IPA), a division of Marcus & Millichap have completed the sale of Bella Vista Apartments, an adaptive re-use property with 91 apartments and 8,128 s/f of commercial space.

“Bella Vista Apartments is a 100% market-rate asset that was skillfully converted starting in 2022 from the long-vacant Palmer Building and Ansonia Tech Park into loft-style apartments and commercial space,” said Victor Nolletti, IPA executive managing director investments. “The property has a long-term tax abatement agreement that runs through 2037.” 

Nolletti and IPA’s Wes Klockner and Eric Pentore represented the seller, Bella Vista Ansonia LLC, and procured the buyer, Reliant RE Partners.

Bella Vista Apartments is located at 153 and 165 Main St.along the Rte. 8 corridor, which connects to Interstates 84, 91, and 95, Rte. 15/Merritt Pwky. and Rte. 1/Boston Post Rd. The Ansonia train station is across the street, and the Ansonia Town Hall, Veterans Memorial Park, retail, and restaurants are within walking distance. Employers such as Griffin Hospital, Dianon Systems Inc., Sikorsky, Gama Aviation, Pitney Bowes, and Yale University are within a 25-minute drive.

The 153 Main St. location has 44 apartments and 8,128 s/f of commercial space; 165 Main St. has 47 residential units and 700 s/f of retail space. Apartments have open floor plans with 10-to-12-ft. ceilings, wood or vinyl plank, oversized windows, exposed brickwork, modern cabinetry and finishes, and new mechanical systems. Community amenities include a picnic deck area, laundry on each floor, a coffee lounge area, a business center, and gym.