Pappas and Pinto of Chozick Realty Inc. facilitates $12.925 million sale of 176 apartment units across eight buildings in Hartford, CT

Hartford, CT Chozick Realty Inc. has completed the sale of 176 apartment units located across eight apartment buildings in the Asylum Hill neighborhood of the city. The properties, sold for $12.925 million, are positioned near Aetna Insurance Company, downtown and major highways I-84 and I-91, offering both convenience and accessibility.

Half of the apartments have undergone full renovations in recent years, providing the new owner with additional upside potential while maintaining a stable, turn-key investment.

The transaction was managed by Chozick Realty brokers Steve Pappas and Jordan Pinto, who handled the sale on behalf of the seller as well as procuring the buyer. Both buyer and seller are regional owners of multifamily properties with holdings throughout the Tri-State region.

Pappas said, “The Asylum Hill neighborhood is an area with strong demand for quality rental housing. This portfolio offers an excellent blend of renovated units and additional value-add opportunities, making it a compelling investment.”

Pinto said, “The close proximity of the properties to each other makes for easy management, and the high occupancy rates reflect the strong rental market in this area”. 

This sale underscores the continued confidence in the city’s multi-family housing market, with Chozick Realty having closed this sale with marketing of less than 30 days. Chozick Realty has recently brought two other local multifamily portfolios to market in July, one containing 111 units and the other having 84 units.