13 Manchester apts. fetch $46.6M

BY Gregory Seay

Damato Enterprises Apartments in Manchester.
Thirteen Manchester apartment communities with 388 units have been sold to a New York buyer for $46.6 million, or $120,000 per unit, brokers say.

Their original developer, Damato Enterprises Apartments, sold the properties to
Chester Homes LLC via a sealed bid process, said exclusive listing broker Chozick Realty of Hartford. Nearly all of the Damato apartments are occupied, said Chozick broker Steve Pappas.

According to Pappas, Raymond F. "Sonny" Damato built and managed the apartments until his passing in April 2014.