ORANGE, CT… Michael Richetelli, President and Designated Broker of Colonial Properties, Inc., is pleased to announce the completion of the following transaction.
Michael Richetelli, President/ Designated Broker, represented the Seller, General Asset Company, LLC in the sale of 968 Chapel Street, New Haven, CT; a two tenant 9,250 SF investment property for $2,795,000. The property is occupied by Pickard Chilton architects and Anesthesia Smoke Shop, although the property is best known for being the home of the first Ann Taylor store, which closed in 2020. The Buyer, Carlson Road Limited Partnership was represented by Carl Russell from Pearce Real Estate. The Seller was represented by Attorney Gabriel H. Cusanelli, Esq. in New Haven, CT; the Buyer was represented by Attorney John Mulcahy from Updike, Kelly & Spellacy, P.C. in Middletown, CT.
“We are pleased to be able to transact this landmark property. It’s prime location in the New Haven CBD, adjacent to the Town Green and in the heart of the Yale community, make it a prized asset. There was tremendous interest in this property, as the demand for cash flowing investment properties remains high.”, said Richetelli.
Colonial Properties, Inc., founded in 1978, is a full service Commercial and Residential Real Estate Brokerage, located in Orange, CT. The firm handles all types of real estate transactions including the sale and leasing of retail, industrial, office, investment properties, and residential properties, as well as brokering land and business sales.
