A waterfront property in Milford that once was home to the Costa Azzurra restaurant and banquet facility has sold for $3.65 million.
The new owner of the 72 Broadway property plans to demolish the existing structure, then construct a new building which will be a catering hall and restaurant venue, Tyde at Walnut Beach.
The existing building is a 10,000-square-foot structure on 1.72 acres. Costa Azzurra, a longtime staple in Milford, closed in late 2019 following the death of owner Sebastiano “Benny” Faustini.
Tony Vitti of Colonial Properties Inc. in Orange represented the buyers, Pietro and Antonietta Landino of Wallingford. The Landinos also own a banquet facility in Hamden, Cascade Fine Catering.
Michael Richetelli, president and designated broker of Colonial Properties Inc. of Orange, said the new owners plan to break ground immediately.
“We are very pleased to be able to facilitate this transaction for a landmark piece of property,” Richetelli said. “Costa Azzurra was a special place in the community for a long time, serving the residents of Milford and the region for many special occasions.”
“This very unique parcel has considerable direct waterfront,” he added. “The new development will be a first class banquet facility, featuring beautiful water views, providing memories for many for years to come.”
The Milford Planning and Zoning Commission approved the plans for the new banquet facility last July. Tyde at Walnut Beach LLC, with the Landinos as members, was incorporated in September 2020.
The Landino family indicated Wednesday it is getting ready to demolish the existing building at the site, to make way for construction later this year. Their goal is to open the new venue by late summer 2022.
Attorney Brian Lema of Berchem and Moses in Milford represented the buyers in the sale. Attorneys Larry Langerman and Anthony Benedosso of Karp and Langerman in Milford represented the seller, Livio Faustini.
Contact Michelle Tuccitto Sullo at msullo@newhavenbiz.com.
