A downtown New Britain building with 16 apartments and eight ground-floor storefronts recently sold for $4.59 million.
Two limited liability companies headed by Lawrence Solomon, of Tenafly, New Jersey, sold the building at 87 West Main St. to Boaz Aviani, of Astoria, New York.
Attempts to reach Aviani were not immediately successful Monday morning.
The property had been on the market for about five or six months, said Rich Edwards, a senior associate with Northeast Private Client Group, which brokered the deal for the seller. Jeff Wright, another senior associate with Northeast, also brokered for the seller.
The building was completely renovated several years ago by prolific New Britain developer Avner Krohn, Edwards said. It was then sold to Solomon, who sold to Aviani, Edwards confirmed.
The main 22,262-square-foot portion of the building at 87 West Main St. was erected in 1920, according to city assessing records, with a 7,091-square-foot addition in 1930.
A limited liability company headed by Krohn and Avrohom J. Kess, of Brooklyn, paid $315,000 for the building in 2011, according to city and state records. The property sold to another LLC headed by Solomon for $4.35 million in 2019.
Edwards said rising interest rates and economic concerns have thinned the buyer pool somewhat. Even so, apartment projects pursued in New Britain by Krohn and other developers recently have charted an upward trajectory for the city center, Edwards noted.
“However, it only takes one buyer,” Edwards said. “We were able to articulate the opportunity very well, not just for the building and where it can push rents to, but the trajectory of downtown New Britain and where we expect it to be in five years.”
