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October 14, 2022 REAL ESTATE

Chapel Street retail site sold for $2.8M

PHOTO | COSTAR 968 Chapel St., New Haven
By Hanna Snyder Gambini

A retail storefront along Chapel Street on the Green has sold for close to $2.8 million.

General Asset Company LLC out of Orange and principal Robert Anastasio sold 968 Chapel St., New Haven, to Woodbridge-based Carlson Road Limited Partnership for $2.79 million in a deal recorded Sept. 29.

Built in 1966, the property sits in the heart of downtown New Haven and near the Yale University campus.

The building features more than 9,100 square feet of space and sits in between College and Temple streets near the Omni Hotel.

It was once the longtime home to an Ann Taylor women’s clothing store, which closed in 2020. 

The two-tenant property is now occupied by Pickard Chilton architects and Anesthesia Smoke Shop.

Michael Richetelli, president and broker with Colonial Properties of Orange, represented the seller, along with attorney Gabriel H. Cusanelli of New Haven.

The buyer was represented by Carl Russell from H. Pearce Real Estate and attorney John Mulcahy from Updike, Kelly & Spellacy, P.C. in Middletown.

Richetelli said this is a landmark property in a prime location. 

“There was tremendous interest in this property, as the demand for cash flowing investment properties remains high,” Richetelli said.

The property has a total appraised value of $1.63 million.

Contact Hanna at hgambini@hartfordbusiness.com.

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