by Thomas Breen | Oct 22, 2019 1:08 pm

(13) Comments | Commenting has been closed | E-mail the Author

Posted to: Housing, East Rock

The local real estate giant Pike International purchased two Crown Street lots and an adjacent two-family home for $2.9 million, and another large local landlord, Mandy Management, spent $2.475 million on a 24-unit Beaver Hills apartment complex, in the city’s latest property transactions.

According to the city’s online land records database, on Oct. 11, Elm City Parking LLC, a holding company owned by Shmully Hecht of Pike International, spent a combined $2.9 million buying the service garage at 386 Crown St., the vacant lot at 400 Crown St., and the two-family home at 392 Crown St. from Crown Auto Center LLC, a holding company owned by Albert Hansen.

The garage at 386 Crown sold for $1.1 million, last sold for $100,000 in 1996, and was last appraised by the city as worth $286,400.

The vacant lot at 400 Crown St. sold for $900,000, last sold for $218,000 in 2004, and was last appraised by the city as worth $142,900.

And the two-family house at 392 Crown St. sold for $900,000, last sold for $76,000 in 20101, and was last appraised by the city as worth $156,700.

Hecht did not respond to a request for comment by the publication time of this article. In recent months, his company sold two downtown buildings to Yale University for $3.8 million and two Wooster Square houses to Alexandra Daum for $890,000.

In other recent property sales, on Oct. 10, ABCD Ella Grasso LLC, a holding company owned by the Belgium-based Concord Finance that lists the local mega-landlord Mandy Management as its agent on the Secretary of the State’s C.O.N.C.O.R.D. database, purchased the 24-unit apartment complex at 1495 Ella T. Grasso Blvd. for $2,475,000 from 1495 ET Grasso Navcapman LLC, a holding company owned by Justin Goldberg of the Fairfield/Bridgeport-based company Navarino Property Group.

The apartments last sold for $1,704,000 in 2015. The city last appraised the Beaver Hills complex as worth $1,761,400.

“We recently purchased the property at 1495 Ella T. Grasso Boulevard,” Mandy property manager Yudi Gurevitch confirmed for the Independent by email. “Every time we purchase a property, we re-affirm our commitment to New Haven. Although we are a business, we are also residents of Beaver Hills. We will continue to provide high-quality apartments at affordable rents in all neighborhoods in New Haven and beyond.”

Mandy also spent a combined $726,000 buying 12 apartments in four different buildings in Quinnipiac Meadows, Fair Haven, Newhallville, and Quinnipiac Meadows.

On Sept. 22, Real Estate Group XI LLC, a holding company owned by Mandy Management’s Menachem Gurevitch, bought the three-family home at 234 Starr St. from Benjamin Tetteyfio for $148,000. The city last appraised the building as worth $142,900.

On Sept. 20, Menahem Edelkopf purchased the two-family at 7 Woolsey St. from the U.S. Bank National Association for $102,000. He then quitclaimed the property to the Mandy-owned Real Estate Group XI LLC for $1 on Oct. 7.

On Oct. 8, Real Estate Group XII LLC bought the condo at 25 Donna Dr., Unit C-5 from Anthony Mason for $50,000. The property last sold for $30,000 in 2014. The city last appraised the condo as worth $29,500.

And on Oct. 10, Edelkopf purchased the six-unit apartment house at 220 Glen Haven Rd. for $426,000 from Hugh McGuire and Judith McQuire. He then quitclaimed the property to Mandy’s ABCD Properties LLC later that same day. The city last appraised the property as worth $328,700.

The Ella T. Grasso Boulevard land swap was one of two multi-million-dollar real estate sales that Goldberg made on Oct. 10.

His holding company 725 Whitney NCM LLC also sold the three-story, 26-unit building at 725 Whitney Ave. for $3.15 million to Beacon Hill Realty Holdings LLC, a holding company owned by Fairfield-based investor Bart Stanco. The building last sold for $1.95 million in 2016. The city last appraised it as worth $1,761,400.

The Beaver Hills and East Rock apartment complex sales are the third and fourth multi-million-dollar sales Goldberg’s company has made so far this year.

In February, he sold the 60-unit Brendan Towers complex on Whalley Avenue for $6.1 million. In July, he sold the 29-unit West Rock apartment complex at 25 Springside Ave. for $3.2 million.

Neither Goldberg nor Stanco responded to requests for comment by the publication time of this article.

Previous property sale coverage:

• 200+ Apartments Planned At Empty Eyesore

• Annex Apartments Sold For $3.95M

• Mill River Office Building Sold For $4.65M

• Local Landlords, Albertus Magnus Expand

• Mandy Buys Warehouse For $1.6M

• Pike Collects $890K On Wooster Sq. Sales

• Springside Apartments Sell For $3.2M

• Family Dollar Sells For 1.8M Dollars

• Pike Sells 2 Buildings To Yale For $3.8M

• Mansion Sells For Only $1.45M

• Landlord Tops 340 Units

• High Street Apts Sell For $25M+

• St. Michael’s School Sold, For Apartments

• Ocean Management Acquires Perrotti Westville Properties

• Paris Realty Picks Up 6 Q Meadows Condos

• Landlord Boosts West River Condo Holdings

• $21 Million Changes Hands In 2 Days

• 50 Factory Jobs Coming To Fair Haven

• Brendan Towers Sold For $6M+

• Investors Drop $917K On West Side Condos

• Mandy’s 2018 Buying Spree Nears $13M

• Mandy Empire Buys Up The Block

• Roots Planted In Newhallville

• Latest Sales: Mandy Buying Spree Continues

• Latest Sales: Mandy Expands In City Point

• Latest Sales: East Rock Home Buy Tops $1M

• Latest Deals: Beulah’s 5th Rehab On Block

• Latest Sales: NHR Sheds Small To Focus Big

• Latest Sales: Mandy Buys In Heights

• Home Sale Price Doubles In 13 Years