Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of The Bleu, a 63-unit multifamily property located in New Britain, Connecticut.
“New Britain continues to be an excellent alternative to the more affluent surrounding municipalities,” said Eric Pentore, senior vice president investments. “The city’s pro-growth economic policies have spurred development activity and significantly improved overall quality of life.”
Eric Pentore, Wes Klockner, and Ross Friedel, investment specialists in Marcus & Millichap’s New Haven office, had the exclusive listing to market the property on behalf of the seller, an LLC, and procured the buyer, a New York-based private investor.
The 69,386-square-foot multifamily property is located at 1300 and 1412 East St. and is walkable to Central Connecticut State University. The property is accessible from Route 9, 175, and Fenn Road offering residents access to retail, recreation, and employment opportunities and the neighboring towns of Hartford, Farmington, and Newington.
Constructed in 1970, The Bleu features apartment homes averaging 905 square feet and offers a unit mix of one studio, one one-bedroom unit, 59 two-bedroom/one-bath units, one three-bedroom/one-bath unit, and a four-bedroom/two-bath single-family house. Apartment amenities include an in-unit washer and dryer, a dishwasher, and central air conditioning.
