42-unit Hartford apartment building sells for $3.92M

A Monsey-New York based investor recently paid $3.92 million for a Hartford building with 42 apartments and about 3,000 square feet of ground-floor retail space.

In a sale recorded Jan. 2, 72-80 Main LLC sold the century-old, brick-sided building at 70-82 Main St. to LifeStar Group LLC, whose principal is Chaim Rausman, of Monsey, New York.

The sellers’ principal is Abraham Deutsch, of Hartford, according to state business records. Deutsch’s company paid $1.7 million for the property in 2018, according to city assessing records.

Taylor Perun, of Northeast Private Client Group, who brokered both sides of the transaction, said the building was completely renovated about 18 months ago. 

Perun said New York-area investors have increasingly looked to central Connecticut as profit margins on Fairfield County properties have become strained. Hartford has become an increasingly attractive spot in which to invest, he said.