A 189-unit apartment complex in Avon has sold for $29 million.
According to town property records, the Avon Mill Apartments, located on Avonwood Road, changed hands on July 26. The buyer was BFS Property Group LLC, which is controlled by Yitzchok Rabinowitz of Waterbury, state records show.
The seller was Avon Mill LLC, which acquired the property from Sixty-Four Avonwood Road Associates in 2014 for $27.3 million.
Hartford-based Chozick Realty represented both parties.
The complex consists of three buildings, situated on a 46.6-acre parcel. The property has been approved for an additional 250 Class A apartment units, which the new owner plans to construct, according to a statement from Chozick Realty.
The existing apartments are expected to undergo full interior and exterior upgrades to bring them inline with the rental prices of the new units, Chozick said.
