A 31,000-square-foot building at 167-1 Elm St., Old Saybrook has sold for $640,000 to an investor.
The property is the former home of the Pye Hogan Manufacturing Co. Most recently, it has been a multi-tenant facility under the management of Fernwood Realty LLC.
Richard Lombardo of the Milford Pearce Real Estate Commercial represented the seller, Jeff Woods, principal of Fernwood, in the transaction. Â
Norm Peck of Pequot Commercial represented the buyer, 181 Cross Road LLC, whose principals plan to use it as an investment property.
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Former New Haven school transformed into affordable housing
The former Welch Annex School in the Elm City has a new use – as residential apartments.
On Wednesday, Mayor Justin Elicker and other city and state leaders hosted a ribbon-cutting at the site, at 49 Prince St., New Haven.
The newly renovated former school building is now home to 30 affordable rental units in the city’s Hill neighborhood.
RMS Companies of Stamford converted the building into one and two-bedroom apartments. The company is behind the development of four other mixed-use residential buildings in the neighborhood, including The Maddox at City Crossing, The Pierpont at City Crossing, Parkside at City Crossing, and Aura at City Crossing. Â
The school renovation is part of a larger project aimed at bringing 560 new apartment units to New Haven.
Contact Michelle Tuccitto Sullo at msullo@newhavenbiz.com.
