Elm City marina sells for $1.6M

A landlord and developer has bought the Quinnipiac River Marina properties for just over $1.6 million, with plans to expand.

PGX Holdings LLC bought the site, which includes parcels at 289-315 and 318 Front St. in New Haven.

The deal included six different parcels totaling 2.16 acres, encompassing a restaurant, a 9,579-square-foot office building, dry dock space, a chandlery marine supply store, gas dock, more than 100 boat slips and parking. Two single-family homes were also included in the sale.

The Geenty Group, Realtors of Branford, which first listed the property in 2019, served as sole broker in the transaction. 

PGX Holdings plans to continue to expand on the groundwork laid by the previous owner, according to an announcement.

Mendel Paris of New Haven, a principal with PGX Holdings, indicated the company plans to keep the marina operations going. 

Paris, a developer whose company also recently bought the former Briarwood College campus in Southington, has spoken about increasing the number of tiny houses and floating tiny houses on the marina property, according to a press release issued by The Geenty Group. 

Paris’ partner in PGX Holdings is Moises Grunblatt of Woodbridge.

Great Oak Real Estate LLC and Quinnipiac River Marina LLC were the sellers. Lisa Fitch, principal, ran the daily operations of the marina, which has regularly attracted boating enthusiasts, for the past decade. The marina has hosted the annual QRiverfest event, featuring performances, music and food. It is also home to the Streets Boathouse Smokehouse restaurant. 

According to The Geenty Group, the property attracted considerable interest while it was on the market, including from parties around the country interested in developments such as  multi-family housing or a nightclub. However, under the new ownership, it will continue as a marina.

Contact Michelle Tuccitto Sullo at msullo@newhavenbiz.com.