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September 7, 2021 Real Estate

New Haven retail strip mall sells for $5.75M

PHOTO | CONTRIBUTED The Whalley Commons
By Greg Bordonaro

The Whalley Commons shopping plaza in New Haven has sold for $5.75 million, city records show.

The 36,505-square-foot property at 1475 Whalley Ave., sold in early August, records show.

The buyer was SK Property LLC, which is controlled by Bridgeport-based orthodontist Shyam Desai.

Desai took out a $3.7 million mortgage with Massachusetts-based Avidia Bank to finance the purchase, city land records show.

The seller was Georgia-based ACL Realty Corp.

The property was originally listed for sale at $6.7 million and sits on 6.44 acres, according to CoStar. The occupancy rate is around 83% with tenants that include Walgreens, Yale New Haven Hospital, Hartford HealthCare, Subway, Bank of America, AT&T and United States Postal Service.

Marcus & Millichap was the listing broker.

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