Steve Witten, Victor Nolletti and Eric Pentore of New Haven, Connecticut based Marcus & Millichap Real Estate Investment Services, one of the nation's largest real estate investment services firms, were the sole brokers in the sale of 88 units in Meriden, CT for $7.725 million ($87,784/unit). Located at 234 Sherman Ave., the transaction closed September 12. The original structure was a school built in 1924. Construction for an adaptive reuse of the main property was completed in 1988. The building is comprised of 58 flat style units: 34 one-bedroom units, 20 two-bedroom units and four three-bedroom units. The property also contains 29 two-bedroom townhouse units and one three-bedroom townhouse unit each containing 2.5 bathrooms. The apartment units are heated by owner provided gas fired baseboard heat and hot water. Each unit contains air conditioning units, dishwashers, garbage disposals and ceiling fans.
Each unit also has its own deck or patio, and select units have their own washer/dryer hookups and fireplaces. All tenants have access to an on-site indoor heated swimming pool, exercise facility, large common patio and laundry facility. Tenants also have access to covered garage parking and ample onsite parking. The seller was Taymil Britannia LLC; represented in the transaction by Ford & Paulekas, LLP and the buyer was 234 Sherman LLC; represented by Pullman & Comley LLC and Meister Seelig & Fein LLP.