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May 29, 2020 REAL ESTATE ROUNDUP

Housing starts hit historic low in April

PHOTO | New Haven BIZ
By Michael C. Bingham

In April, 104 Connecticut municipalities authorized 212 new housing units, a 62% decrease from the 562 permits awarded in March, the month the full force of the coronavirus pandemic struck the economy.

It’s also the fewest issued in any April since 2017; last April 613 permits were issued statewide.

The April numbers were released this week by the state’s Department of Economic & Community Development based on data compiled by the U.S. Bureau of the Census.

For the year to date, the numbers are not quite as dramatic. Statewide there have been 1,368 units issued permits during the first four months of this year, a 9.5% decline from the number issued during the same period in 2019.

Of 104 municipalities reporting, New Haven led all in April with 44 new housing units authorized. In a historically depressed month, only three other municipalities reported even double digits of permits issued: Danbury (13 permits), and Newtown and Woodbury (12 each).

Of the 212 units authorized in April statewide, 136 were for single-family homes, while 70 were for structures with five or more housing units.

TRANSACTIONS

 

 

 

 

 

 

 

 

Dow Enterprises LLC has purchased 135 Cherry Street, Milford from Hale Properties LLC for $615,000. The transaction closed at the end of April. The 7,800-square foot office/retail building was partially leased at the time of the sale. The location will become the fourth facility for Amity Physical Therapy, which also has locations in Hamden, Woodbridge and Branford.

Stephen Press, SIOR, co-principal of Press/Cuozzo Commercial Services, was the listing broker for the seller and also procured the buyer, the company reported. Dow Enterprises’ principal of record is Michael Dow of 1 Bradley Road, Woodbridge.

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R&D Sports Cards LLC has leased an 857-square-foot unit at 71 West Main Street, Branford. Bryce Rollins is the owner of the sports memorabilia retailer. The landlord is 71 West Main, LLC, whose principal of record is James J. D’Amato of 183 Quarry Road in Milford. Bill Clark, senior vice president with the Geenty Group, Realtors in Branford was sole broker in the transaction.

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The longtime home of Adesso Moda Salon — 2524 & 2536 Dixwell Avenue, Hamden, — has been sold for $385,000. The 1,900-square-foot commercial building on 0.64 acres will be the new location for SMB Networks, LLC, which is relocating from another Hamden location. SMB Networks provides medical practices with IT, computer, security and EMR support. Stephen Press, SIOR or Press/Cuozzo Commercial Services, represented the sellers, A Spray Trust. The buyer, TCE Holdings LLC, was represented by Jeanette Politano of CB NRT. Its principal of record is Peter Verlezza of 2519 Whitney Avenue, Hamden.

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