Brooklyn investor buys Connecticut apartment complex for $19M
Gershon Eichorn, through LLCs, acquires three-building, 147-unit Waterbury complex
A Brooklyn-based investor purchased from New Wilston Associates a 147-unit apartment complex in Waterbury, Connecticut, for $19.3 million.
The investor, Gershon Eichorn, used three LLCs — Northeast Holdings, HH CT LLC and AEL Group — to transfer the three-building apartment complex, called Highland Ridge on Schraffts Drive and Gayridge Road, to Berry Equities LLC, the Hartford Business Journal reported.
Eichorn is listed as the principal of Berry Equities, the outlet said.
The complex has three 41,000-square-foot buildings that sit on nearly 6.5 acres. Each building has at least 47 units.
Chozick Realty Inc. had the listing.
It’s not the only apartment complex in Connecticut to have sold.
In March, Jones Street purchased from San Francisco-based Hamilton Zanze both Middletown Brooke and Middletown Ridge apartments, which have a total of 520 units, for a combined $94 million.
Yellowstone Property Group purchased the 164-unit Reserve41 complex at 41 Wolfpit Avenue in Norwalk in late December 2022 for $48.7 million from Norpointe LLC, a partnership led by Greenwich-based real estate investment firm Belpointe.
In November, Brookfield Asset Management sold two multifamily complexes — the Winchester Lofts in New Haven and 1111 Stratford in Stratford — as part of a three-property, $117 million deal with Illinois-based B3 Holdings LLC. The transaction also included the 195-unit Ashton Mills in Cumberland, Rhode Island.
In February 2022, office landlord Monday Properties paid $131 million for 75 Tresser Boulevard, a 344-unit apartment building in the city’s downtown, in Stamford. Less than a decade old, the four-story property sits a few blocks from the Stamford Metro-North and Amtrak station and 677 Washington Boulevard, an office complex that recently added Philip Morris International and World Wrestling Entertainment as tenants.
— Ted Glanzer
COMPANIES AND PEOPLE