Most of the dwellings that comprise the 188-unit Avon Place condominium have sold to a Brooklyn, New York real estate investor.
The transaction involved 164 units, or 87% of the total, which were sold to Avon Place LLC, controlled by Ahron Rudich of Empire Realty USA, for $33.75 million. The sale was recorded Oct. 3.
Institutional Property Advisors, a division of Marcus & Millichap, brokered the deal.
“Avon Place is a very well-amenitized asset with spacious units and amenities that are unique for its asset class,” said Eric Pentore, IPA’s first vice president. “Avon is a highly desirable suburban Greater Hartford municipality that is high-barrier-to-entry and low-supply. The town possesses an excellent education system and overall quality of life and will continue to be a highly desirable option for those seeking lower-density housing.”
Pentore and IPA Executive Managing Director Victor Nolletti, along with Wes Klockner and Ross Friedel, represented the sellers, David Lubin and Ryan Colbert of Clairmont Group and Inception Investors.
Avon Place is located on Avonwood Road, which is off Route 10. It was constructed in 1973 on 46 acres and consists of three, three-story residential buildings and a recently renovated clubhouse/leasing office.
The community features a swimming pool, lounge area, laundry facilities, playground, tennis court and walking trails.
The units have an average size of 1,165 square feet.
