🔒$31.07M sale price disclosed for Avner Krohn’s newly completed New Britain apartment building

A newly completed 107-unit apartment building in downtown New Britain recently traded for $31.07 million, according to land records filed with the city. Prolific developer Avner Krohn disclosed Jan. 2 that he had sold The Brit, a six-story apartment building at 267 Main St., to a joint venture between Lakewood, New Jersey-based INV360 and Reliant Partners, but both sides declined at the time to reveal the purchase price. A deed recorded Tuesday in the New Britain Town Clerk’s office shows the transaction closed at $31.07 million. Victor Nolletti and Eric Pantore of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller and secured the buyer. “We are very excited to see the redevelopment happening in New Britain and we have a lot of confidence the new housing is going to continue to perform well and bring people into the core downtown area,” Nolletti said Wednesday. Nolletti credited a recent wave of upscale apartment development in downtown New Britain to city leaders who recognize the long-term economic benefits of new housing for local businesses, residents and the broader community. As previously reported, The Brit was completed in 2024 at a development cost of about $25 million and is currently about 75% occupied. The property includes 5,450 square feet of first-floor restaurant space that remains available for lease.