March 15, 2019
REAL ESTATE ROUNDUP

Sportscaster Dan Patrick to relocate Milford studio

PHOTO | New Haven Biz
PHOTO | New Haven Biz
363 Naugatuck Ave., Milford
PHOTO | Contributed
Yolanda Tine Lowe

John Bergin, senior commercial specialist in the Milford office of H. Pearce Commercial office, has leased the former United Rentals property at 363 Naugatuck Ave., Milford to AT&T for the Dan Patrick Show, which is syndicated on radio and television outlets throughout the country.

Sportscaster Patrick, a Milford resident best known as a longtime anchor of ESPN's SportsCenter program, will relocate his radio and TV talk show studio from its current location in downtown Milford to the new site, which has slightly more than 18,000 square feet of space on a 1.35-acre parcel.

Realtor Bergin had been working with AT&T in New Jersey for eight months on the deal. Bergin represented the landlord, 363 Naugatuck Ave, LLC, when it purchased the site in February 2018, and now again with the lease to AT&T.

NHMR names new president

Yolanda Tine Lowe of Ivoryton has been named president of the New Haven Middlesex Association of Realtors for 2019. Lowe, of Berkshire Hathaway New England Properties in Essex, has been lauded for sales achievement as a member of the Berkshire Hathaway Honor Circle. She holds professional designations including Certified Residential Specialist, Graduate Real Estate Institute, Accredited Buyer Representative, Seniors Real Estate Specialist, e-PRO and others. She served on the Residential Real Estate Council's national board of directors and is currently an Ambassador for Connecticut, past president of the Connecticut chapter, and past regional vice president for Connecticut, New York, Pennsylvania and New Jersey.

TRANSACTIONS

Three NH apartment properties sold for $13.3M

The Northeast Private Client Group has announced the sale of three New Haven apartment buildings in two transactions totaling $13 million. Brad Balletto, vice president/investments, and investment associates Rich Edwards and Jeff Wright in Northeast's Shelton office, represented the seller and procured the buyer in both transactions.

The sale of Brendan Towers, a 60-unit brick apartment building located at 457 Whalley Ave., New Haven closed Jan. 31. Seller Navarino Capital, based in Bridgeport, sold the property to a private Westchester-based investor for $6.7 million, or $111,666 per unit. This sale closed at a capitalization rate of 6.7 percent on the current net operating income.

The portfolio sale of 420 and 431 Whitney Ave. in the East Rock neighborhood closed Feb. 12 for $6.6 million, or $200,000 per unit, at a blended capitalization rate of 4.8 percent on the current combined net operating income of both buildings. Together the two buildings house 33 apartments with off-street parking and a nine-car garage. The seller, Hadley Inc. of New Haven, sold the properties to MOD Equities LLC, also of New Haven.

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