News:
Brokerage
Posted: September 23, 2016
Press of Press/Cuozzo sells 19 Elm Street for $1 million
Stephen Press, Press/CuozzoNew Haven, CT Stephen Press, SIOR, co-principal of Press/Cuozzo Commercial Services, has completed the sale of 19 Elm St. This 9,328 s/f retail building was the former Harold’s Formal Wear and is set on .54 acre in the city’s central business district with access from both Elm and State Sts.
Press was the sole broker representing the sellers, 19 Elm Street Partnership, LLC, and procured the buyers. The sale closed at $1 million.
The buyers, MOD Equities, LLC, plan to add four floors to the existing building to create a mixed-use five-story building that will contain 46 residential units and 1,200 s/f of retail space.
MORE FROM Brokerage
Kelleher & Pentore of Horvath & Tremblay sell two multi-family property for $13.7 million
Melrose, MA Dennis Kelleher and John Pentore of Horvath & Tremblay have facilitated the sale of 47 units spread across two multi-family properties in totaling $13.7 million. Kelleher and Pentore facilitated the sale of 333 Main St. and 447 Pleasant St.
Quick Hits
Columns and Thought Leadership
The rise of AI in CRE - And what it means for every skilled profession - A broker & appraiser weighs in - by Bryan Plourde
This may seem self-serving, and I’ll be the first to admit it. But unlike some of the artificial intelligence tools now reshaping our industry, I am fully aware of my own bias. So, hear me out. The rise of AI in commercial real estate is not a distant threat or a speculative headline.
End of the year retail thoughts - by Carol Todreas
Now what? As the year comes to a close, the state of retail is always in the news. The answers vary greatly depending on who in the various related industries you ask, each offering a unique lens on the challenges and opportunities ahead.