A 40-unit apartment building in West Haven has changed hands in a $5.24 million deal. In a deed recorded June 26, a limited liability company controlled by Fairfield-based developer and real estate investor Robert Kligerman sold the 65-year-old, 28,952-square-foot building at 295 Elm St., to an LLC headed by Svetlana Wasserman and Alan Wasserman. The […]
A 40-unit apartment building in West Haven has changed hands in a $5.24 million deal.
In a deed recorded June 26, a limited liability company controlled by Fairfield-based developer and real estate investor Robert Kligerman sold the 65-year-old, 28,952-square-foot building at 295 Elm St., to an LLC headed by Svetlana Wasserman and Alan Wasserman.
The three-story brick building sits on nearly six-tenths of an acre.
According to state business filings, the Wassermans share a New Rochelle, New York address with SW Management, a family-run property management company active in New York City.
Bradley Balletto, managing director of investments at Northeast Private Client Group, said this marks Alan Wasserman’s first independent acquisition outside the family business.
Balletto — along with his colleagues Rich Edwards, Jeff Wright and Derek Mahabir — marketed the property and secured the buyer.
For Wasserman, Balletto said, Connecticut offers a less heavy-handed regulatory climate than New York, while West Haven itself presents growth potential.
The city recently exited state financial oversight and has seen a number of positive developments under a dynamic new mayoral administration, Balletto said. It also enjoys geographic advantages, including a position on Connecticut’s coastline neighboring New Haven.
“I love the West Haven market,” Balletto said. “I think politically there has been a lot of good things going on, a lot of new developments by the beach, a lot of public projects. I think they are very much open for business.”
