Stamford Health has purchased a 0.71-acre vacant parcel for $2.5 million, according to a brokerage firm that represented the buyer and the seller in the transaction.
The health system confirmed purchasing the property at 171 Stillwater Ave. but would not disclose plans for the site. The parcel, which received approval for multifamily housing in 2020, abuts Stamford Health’s Bennett Medical Center campus at One Hospital Plaza.
“As part of future campus planning efforts, this acquisition will help us expand programs and services for the community,” said Chief Operating Officer Liz Longmore.
The seller is Stillwater Avenue LLC, controlled by Steven Lichtman of Greenwich, according to property records. Stillwater Avenue LLC received zoning board approval in 2020 to build a four-story, mixed-use building with ground-floor retail and 36 apartments on the property, according to city documents. The company bought the parcel in 2018.
“We thought the Stamford Hospital was a natural buyer,” said Lucas Severo, a commercial real estate agent with Stamford-based Kravet Realty. “It was no secret that they were acquiring properties and that this property abutted their parking lot. The property has approvals for a 36-unit mixed-use development, but the hospital never let us in on their plans for the parcel.”
The parcel was appraised at $1.32 million and assessed at $925,320 in 2024.
