Thomas Breen photo
Terrace Heights in the Annex.
A Westport-based investor purchased a 41-unit apartment complex in the Annex from a Waterbury-based investor for $3.95 million, in one of the city’s latest property transactions.
According to the city land records database, on Sept. 12, Terrace St LLC, a holding company owned by Amit Lakhotia, purchased the Terrace Heights apartment complex at 70 Terrace St. from Terrace New Haven LLC, a holding company owned by Shimon Handelsman, for $3.95 million.
The eight-building, 41-unit complex was built in 1984, according to the city assessor’s database, and was last old for $3,055,000 in 2017. The city last appraised the complex as worth $2,313,100.
The Secretary of the State’s C.O.N.C.O.R.D. database lists Lakhotia as having a business address of 320 Quinnipiac Ave. in the Heights and a residence address of Westport. The state database lists Handelsman as having a business address and a residence address in Waterbury.
Neither Lakhotia nor Handelsman could be reached for comment by the publication time of this article.
On this reporter’s recent visit to the complex, tucked off of Main Street in a suburban stretch of the Annex not far from the East Haven border, one Terrace Heights resident confirmed that the calm, somewhat sleepy atmosphere of a fall weekday afternoon was par for the course for this part of the neighborhood.
“It’s quiet,” said David Reyes (pictured), an employee at a medical device company in North Haven. “And it’s still pretty affordable.” He said he pays $950 per month for his and his family’s share of the rent of a two-bedroom apartment. (They share the apartment with a roommate.) After living in East Haven and then on Washington Avenue in the Hill, he said, he’s happy to have moved back out of the city center and over to a quieter stretch on the East Haven border.
He received a letter at his door last week letting him know that he has a new landlord, he said. Considering how little he needed to be in touch with the previous landlord during his three months living at Terrace Courts, he said, he’s not too worried about the change in ownership.
New Haven Assessor’s Database
281 Saint John St.
In other recent property sales, on Sept. 16, Jennifer Alfaro purchased the three-family home at 277 – 281 Saint John St. in Wooster Square from Richard Ste Marie and Lisa Ste Marie for $600,000. The property last sold for $187,500 in 2012. The city last appraised the property as worth $311,800.
In Beaver Hills, Fair Haven Heights, The Hill, and West Rock, holding companies associated with the local mega-landlord Mandy Management spent a combined sum of $585,000 purchasing seven residential units in four different buildings.
1599 Ella T. Grasso Blvd.
On Sept. 19, ABCD Properties LLC purchased the three-family home at 1599 Ella T. Grasso Blvd. for $260,000 from Henry and Yanick Tassy. The property last sold for $205,000 in 2003. The city last appraised the building as worth $218,700. In the Secretary of the State’s business database, the principal for ABCD Properties is listed as Concord Finance of Belgium, and the agent is listed as Mandy Management.
On Sept. 18, Real Estate Group XII LLC, a holding company owned by Mandy Management’s Menachem Gurevitch, purchased the two-family home at 505 Quinnipiac Ave. from Sujatha Rajaram for $175,000. The property last sold for $290,7000 in 2006. The city last appraised the property as worth $156,900.
On Sept. 23, Real Estate Group XII LLC purchased the condo at 707 Congress Ave., Unit 707 from Denise and Edgar Santaella for $80,000. The condo last sold for $65,000 in 2004. The city last appraised the property as worth $97,900.
And on Sept. 13, Yehuda Gurevitch, a property manager with Mandy Management, purchased the single-family house at 61 Rock Creek Rd. for $70,000 from the federal Secretary of the federal Department of Housing and Urban Development. The city last appraised the property as worth $98,200. Gurevitch then quit the deed to the property to the Mandy-owned holding company Real Estate Group XII LLC for $1 on Sept. 18.
Previous property sale coverage:
• 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