Middletown, CT Rick Chozick and Steve Pappas of the Hartford office of investment broker, Chozick Realty, Inc. have completed the sale of Wilcox Apartments for $7 million or $86,420 per unit.
Wilcox Apartments was constructed in 1989 within the Wilcox Crittenden & Co. factory. The company was a world renowned manufacturer of ship fittings dating back to the mid 1800s. The existing 1907 manufacturing building was gut renovated along with the addition of ground-up construction to create the existing 81 units. Given the nature of the property, there are 11 different floor plans including flats, loft units and townhouse style apartments with vaulted ceilings and skylights.
Chozick Realty marketed Wilcox Apartments for only two weeks, generating multiple offers on behalf of owner, an institutional operator of apartments on a nationwide basis.
Chozick Realty represented the seller, Hamilton Point Wilcox Investors as well as procuring the purchaser, Up Realty, a New York based investment group.