80-unit East Hartford apartment building sells for $11.9M

An investor based in a suburb of New York City recently paid $11.9 million for an 80-unit brick apartment building in East Hartford.

In a sale recorded by the town on June 16, Miami-based 905 Burnside LLC sold the 88,248-square-foot apartment building on 6.2 acres at 905 Burnside Ave., to 905 Lofts LLC.

Formed in April, the buyer shares a Spring Valley, New York address with NBM Equities, a privately owned  real estate investment company that, according to its website, holds more than 1,500 units of multifamily housing and manages assets valued at more than $350 million. Its founder and president, Gabriel Dorfman, is also principal of 905 Lofts LLC.

Attempts to reach Dorfman were not immediately successful Thursday.

The brick apartment building at 905 Burnside Ave. is a short distance from Wickham Park and Interstate 84, with the Hockanum River flowing past the rear of the property. 

The property is appraised at $6.8 million by East Hartford’s assessor. The building was built in 1970 and subsequently upgraded, according to assessing records. It contains 63 one-bedroom apartments, 15 two-bedroom apartments and two three-bedroom apartments, according to town records.