Glastonbury’s Addison Mill luxury apartments sold at $11.45M

As seen in Hartford Business Journal

Glastonbury’s luxury Addison Mill Loft Apartments have sold for $11.45 million, brokers say.

The 55-unit, converted former wool-underwear mill property at 64 Addison Road drew a per-unit price of $208,181, according to Shelton broker Northeast Private Client Group LLC.

Addison Mill LLC, which is controlled by Jay Rappaport and Dalzell Capital Partners LLC, was the seller and New York landlord Verco Properties, operating under VRV Corp., and MLV Legacy LLC were the buyers, according to the Glastonbury town clerk’s office.

Hartford area developer-landlord Martin Kenny built for $12 million and opened Addison Mill in 2009. He sold the property in 2017 for $11.75 million, town land records show.

 

About Northeast Private Client Group

Northeast Private Client Group is the fastest growing mid-market investment sales firm in the Northeast, providing unmatched results by combining specialized market intelligence with a relationship-based marketing strategy that caters to each client’s needs. The firm’s collaborative and research-driven solutions are tailored to meet the individual needs of investors across the Northeast who are looking to buy, sell or exchange mid-market properties including mixed-use, multifamily, retail and office assets. Northeast Private Client Group’s highly disciplined process is just one of the many reasons the firm has earned CoStar’s Power Broker designation year after year, and been ranked on the Inc5000 list of America’s fastest-growing private companies. To learn more, visit: www.northeastpcg.com.