Chozick Realty completes sale $3.22 million of 35-unit multifamily property

Hartford, CT Chozick Realty, Inc. has completed the closing of 16 Groton St., a 35-unit multifamily apartment community located in the South End neighborhood for a sale price of $3.22 million or $92,000/unit.

Over the past several years, 16 Groton St. was significantly upgraded with full apartment renovations, new boiler, replacement windows and remodeled common area. With the level of improvement, the property commanded top of the market rents in a turnkey investment. 

“The Groton St. sale represents a prime example of the trend of full property renovations providing not only a superior experience for the residents, but a substantial NOI improvement,” said Steve Pappas of Chozick Realty, Inc.

Steve Pappas and Tess Cullen of Chozick Realty exclusively represented the seller in the transaction as well as procuring the buyer.