Chozick Realty Completes Apartment Deals

Hartford-based Chozick Realty has been busy of late as a broker in a handful of apartment-building sales in central Connecticut.

In New Britain, Rick Chozick and Ryan Perkoski of Chozick Realty brokered the sale of the 40-unit Edgewood Apartments for $2.2 million, or $54,375 per unit. Edgewood Properties sold the property to Marconi Enterprises.

The complex is in a residential neighborhood at the junction of Edgewood and Dunlay streets in the city’s southeastern corner. The rear property line borders the town of Kensington and is within one mile of the Newington town line.

The two brick buildings constructed in 1972 have 10 one-bedroom and 30 two-bedroom apartments, with resident-paid gas heat and hot water. Recent improvements include new roofs and a fire safety system, as well as individual unit and common area upgrades. Occupancy was 95 percent as of Dec. 30, the date of the sale.

Edgewood is familiar to Chozick Realty. In 1993, the firm brokered the sale to Edgewood Properties LLC, the seller, on behalf of the Federal Deposit Insurance Corp., which at the time was disposing of assets recovered from failed banks.

In Waterbury, Chozick Realty arranged the sale of the 80-unit Diamond Court Apartments for $3.55 million in a sealed bid. Diamond Court Realty Inc., a regional investment firm, was the buyer. Diamond Court-CHFA Inc. was the seller.

Built in 1992, the townhouse-style property has 24 two-bedroom apartments, 54 three-bedroom units, and a pair of four- bedroom apartments with full basements. Units range from 795 square feet to 1,285 square feet.

Diamond Court carries an affordability requirement that 40 percent of its units go to residents earning no more than 60 percent of area’s median income.

Waterbury Apartments Sold

The 156-unit Rivers Edge luxury apartment complex in Waterbury has sold for $10.6 million, brokers say.

Brokers Steve Witten and Victor Nolletti, of Marcus & Millichap in New Haven, represented the buyer, Paredim Acquisition LLC, and seller, ERP Operating Limited Partnership, a Chicago real estate investment trust.

The 10.5-acre, gated complex is at 35 Sharon Road, near the Wolcott town line. Built in 1974, River’s Edge has six studio apartments, 67 one-bedroom units, and 83 two-bedroom flats in seven detached buildings. Fannie Mae provided financing.

Farmington Sale

A two-story office building at 17 Talcott Notch Road in Farmington has sold for $2.99 million.

The 35,326-square-foot structure, built in 1982, features a 5,000-square-foot showroom with 16-foot ceilings, a high-bay loading dock, an amphitheater and a racquetball court. One tenant occupies 3,700 square feet, and the rest is available to lease.

The property was originally listed at $4.2 million.

Larry Levere of Sentry Commercial represented the seller, Diane S. Morris, Trustee, and Lee B. Morris. Boynick Realty represented the buyer, 17 Tolcott Notch LLC.

Sake Cafe Opens

Sake Café, a Japanese hibachi steakhouse restaurant, signed for 6,000 square feet in Northeast Plaza, 774 Park Ave. in Bloomfield.

The restaurant opened the first of this year. This is Sake’s second location in the Hartford area. The first restaurant is at 1105 Silas Deane Highway in Wethersfield.

Levy Properties in West Hartford is the landlord.

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Greg Seay is the Hartford Business Journal Web editor.