IPA Brokers Sale of Downtown New Haven Mixed-Used Asset
December 18, 2017
NEW HAVEN, Conn., Dec. 18, 2017 – Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI) announces the sale of College and Crown, a five-story, 160-unit multifamily asset with 18,684 square feet of commercial space in New Haven, Connecticut.
“College and Crown One has one of the absolute best locations in the core Yale District of the downtown New Haven submarket,” says Victor Nolletti, senior managing director leading IPA’s Northeast team. “The property connects the New Haven business district with Yale University and the Yale New Haven medical facilities, both private and public.”
Nolletti represented the seller, College Square LLC and procured the buyer, Centurion Overseas Ltd. He was assisted by his colleague and teammate, first vice president Eric Pentore.
Located at 200 College St. in New Haven, the property is within walking distance of the old Yale campus arches and the most iconic local retail and dining establishments in downtown New Haven. Employers such as Alexion Pharmaceuticals Inc., Yale University, Yale New Haven Hospital, and the Smilow Cancer Hospital are in the immediate area.
Built in 2015, College and Crown features a steel and concrete podium that includes structured parking and houses the street-front retail with fully amentitized, wood-frame residential housing above. Community amenities include a lounge, a study area, a fitness center, and outdoor spaces with grilling stations and pet-friendly anti-microbial faux turf.