The Commercial Record - March 2018

MARCH 2018

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REAL ESTATE & FINANCIAL NEWS FOR CONNECTICUT

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Amazon Product Threatens Community Banks Satellite Casino Faces Legal Delays State Disciplines Brokers About Every Three Days

MARCH 2018 | THE COMMERCIAL RECORD | 1

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inside

4

Going Digital

The Commercial Record will cease print publication after 125 years as a weekly newspaper and 10 years as a monthly magazine.

6

Threat to Community Banks The ecommerce giant Amazon is in talks with big banks such as JPMorgan Chase to build its own checking account product specifically targeted at Millennials and unbanked citizens.

8

Rising Competition

6

Legal delays are threatening a satellite casino project as Foxwoods and Mohegan Sun try to protect their turf.

12 Overseeing Offenses The Connecticut Real Estate Commission meted out approximately 300 disciplinary actions between Jan. 1 2015 and Nov. 30, 2017.

12 10 state statistics 14 c-changes 15 in person 16 news roundup 18 top commercial transactions 20 trendlines

8

34 gossip report

MARCH 2018 | THE COMMERCIAL RECORD | 3

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VOLUME 136, NUMBER 3

The Commercial Record (ISSN 0010-3098) © 2018 The Warren Group Inc. All rights reserved. No part of this publication may be reproduced in any form or by any means, electronic or mechanical, including photocopying, recording, or by any information storage and retrieval system, without written permission from the publisher. Periodicals postage paid at Boston, MA, and additional locations. Published 12 times a year January to December 2018. The Commercial Record™ and The Warren Group™ are trademarks of The Warren Group Inc. POSTMASTER: Please send address changes to The Commercial Record, 280 Summer St., Boston, MA 02210. Basic annual subscription rate is $349, monthly subscription rate is $35. Subscription, advertising, editorial and production inquiries should be directed to: The Commercial Record, 280 Summer St., Boston, MA 02210, 800-356-8805.

4 | THE COMMERCIAL RECORD | MARCH 2018

from the editor

COMMERCIAL RECORD TO CEASE PRINT PUBLICATION

T

he Commercial Record is going digital after 125 years as a weekly newspaper and 10 as a monthly magazine.

The first issue of The Commercial Record was published in 1882. At the time it was a newspaper containing a week’s worth of real estate transactions and not much else. Over the years its formatting and publication dates changed, and editorial content was added alongside an expanded collection of real estate records.

As its parent company The Warren Group grew, CR – the publication is known affectionately by its initials – expanded to include mortgages, discharges, liens and lis pendens. A Connecticut branch of the company opened, relocated and closed several times over the years, finally for good in the Great Recession.

Boston-based reporters began to travel to our neighbor to the south to sniff out the news in residential and commercial real estate, community banking and local politics.

The newspaper became a monthly magazine in 2008, and in its glossy pages

reporters continued to bring CR’s readers the news from the Nutmeg State. With the advent of the Internet, the real estate records moved online, with an abbreviated version still appearing in print.

The Internet, the original disruptor, has changed the world in ways we’re still figuring out – and it has certainly changed the world of print journalism. It has greatly impacted the way news is delivered and consumed.

More than 80 percent of The Commercial Record’s subscribers read the news only online, via both the website’s homepage and our daily e-news alerts.

The weekly records section on the website consistently receives the most traffic, save for breaking news stories. Continuing to print and mail editions, whether as newspapers or magazines, has become cost inefficient for The Warren Group and would cause a subscription price increase that would be indefensibly high.

This is the penultimate issue of CR; April’s issue will be our last in print. All the news and information you’ve come to rely on will continue to be available on our website at www.thecommercialrecord.com; the latest real estate records will continue to be available Thursday mornings.

Converting to a wholly digital environment affords our subscribers access to the latest news and data as quickly as we write it; it also provides access to the most reliable resource for real estate and financial news in Connecticut from anywhere you are – in the field, in the office, on the train – it’s all there for you. And it allows us to provide the very best product without passing any additional costs on to our loyal customers.

While the way the news is delivered is once again changing to reflect the needs of our audience, our commitment to firstrate journalism and best-in-class data has not. Without our subscribers, there would be no Commercial Record at all, in any form, and we appreciate your willingness to accommodate this most recent change.

Your print subscription will automatically roll into a new digital subscription where you will be able to continue to use your current username and password.

If you need assistance accessing your digital subscription, please contact customer service at 617-896-5388 or email customerservice@thewarrengroup.com.

The staff of The Commercial Record looks forward to continuing to provide all the news you need for the next 135 years, in whatever format the future finds. n

Cassidy Murphy Editorial Director Email: cmurphy@thewarrengroup.com

MARCH 2018 | THE COMMERCIAL RECORD | 5

Two-Day Checking

AMAZON CHECKING ACCOUNT POSES THREAT TO COMMUNITY BANKS Ecommerce Giant Well Positioned to Grab Young Banking Customers

BY BRAM BERKOWITZ | COMMERCIAL RECORD STAFF

L

arge ecommerce players like Amazon have upended many industries from retail to entertainment to grocers, forcing businesses in these sectors to adapt or face a future filled with uncertainty.

Now the ecommerce giant is poised to disrupt the banking industry.

Amazon sent shock waves through the financial world last week when news outlets reported that the behemoth is in

talks with big banks such as JPMorgan Chase to build its own checking account product, specifically targeting younger users and those without a bank.

News that Amazon is also looking to

6 | THE COMMERCIAL RECORD | MARCH 2018

roll out a credit card for small businesses followed, and the company launched its first debit card offering last week in Mexico last week.

“Amazon is in the business of selling merchandise. Everything they do feeds into that model,” said Thad Peterson, senior analyst at the Boston-based Aite Group, adding that he does not think Amazon wants to become a full-on bank.

“By offering [a checking account product] to the underbanked and unbanked,

they are opening a sales channel to a reasonably sized population that would otherwise not purchase stuff online.”

Peterson thinks Amazon will roll out some type of checkless deposit account that comes with a debit card so people can make online purchases, although the card or the currency could be virtual.

Maureen Burns, a partner and leader of the financial services practice group at Boston-based Bain & Co., thinks the move will be multi-faceted, an effort that targets new customers, while also continuing to build brand loyalty.

“It could be for customers without credit, or to create tighter relationships with existing customers,” she told Banker & Tradesman. “Amazon wants to increase the scope in which they interact with existing customers.”

Underbanked vs. Millennials The less-banked and younger customer populations have two entirely different values to financial institutions.

Seven percent (9 million) of U.S. households in 2015 were unbanked, meaning no one in the household had a checking or savings account, according to the FDIC. An additional almost 20 percent (24.5 million) of U.S. households were underbanked, meaning that the household had an account at an insured institution but also obtained financial services and products outside of the banking system.

While financial institutions do offer products for these populations and stress financial literacy, the numbers – which have improved only marginally since 2011 – show that the underbanked and unbanked are not core to a bank’s business model.

“The truth of the matter is if the banks really wanted to serve the unbanked and underbanked, they would offer a product to serve them,” Peterson said. “Banks can’t take this as a significant threat. Even if this thing is enormously successful, it’s still a little tiny percentage of checking customers in the U.S.” Millennials and younger customers, on the other hand, are highly sought by banks, but still a bit of a mystery to crack.

To be certain, Millennials are using digital banking services.

Nearly two-thirds of all smartphone users in the U.S. have at least one financial

Amazon has done a superb job of creating brand loyalty, attracting customers to the conglomerate for everything from movies to music to food. app, according to a survey by Bankrate.

Seventy percent of survey respondents said they checked their bank’s mobile app at least once a week, while 16 percent of respondents said they checked it daily.

Amazon, Well Positioned But that doesn’t necessarily mean these customers are safe, particularly the younger ones.

More than two-thirds of participants in a recent study conducted by D3 Banking Technology and Harris Poll said they were frustrated with their digital banking experience and are prepared to walk away from their current financial institution if a better digital experience presents itself.

The survey also found that digital banking users ages 18 to 34 are more likely than those ages 55 and older to be frustrated with their digital banking experience. Seventy-three percent of the younger group indicated that they have been frustrated with their digital banking experience over the past year, compared to only 61 percent of adults ages 55 and over.

“When customers buy another banking product, 40 percent are buying from another competitor; they are typically not shopping, but will get an offer,” said

Burns. “Primary banks not great at targeting their customers.”

Amazon, however, has done a superb job of creating brand loyalty, attracting customers to the conglomerate for everything from movies to music to food, not to mention the massive assortment of products shoppers purchase every day.

U.S. and United Kingdom consumers ranked PayPal and Amazon nearly as high as banks for trust with their money, according to a recent study from Bain & Co. In another Bain study, 74 percent of respondents ages 18 to 24 and 68 percent of respondents ages 25 to 34 said they expect to buy a financial product from a technology firm within the next five years.

Bain’s most recent analysis, which came on the heels of news regarding the Amazon checking account, estimates a banking service from Amazon could swell to more than 70 million U.S. customer accounts within five years.

That would equal the size of Wells Fargo, the country’s third largest bank.

“I do think banks need to be worried,” said Burns, adding that she thinks there has been too much reliance on the branch.

“Frankly, they have struggled to create those really good digital experiences.” ■ Email: bberkowitz@thewarrengroup.com

MARCH 2018 | THE COMMERCIAL RECORD | 7

Time Is Money

LEGAL DELAYS THREATEN SATELLITE CASINO PROJECT Foxwoods, Mohegan Sun Try to Protect Turf

A 100,000-square-foot satellite casino proposed for a former cinema property in East Windsor is intended to protect Foxwoods’ and Mohegan Sun’s market share and their revenue-sharing payments to the state of Connecticut.

BY STEVE ADAMS | COMMERCIAL RECORD STAFF

P

oliticians and tribal leaders swung mallets and took rhetorical shots at the $960 million MGM Springfield casino rising across the state border as Connecticut’s two existing casino operators began to demolish a defunct cinema complex in East Windsor this month.

After absorbing rising competition in a Northeast casino market they once had all to themselves, the owners of the rival Foxwoods and Mohegan Sun casinos be-

gan charting their first joint venture in 2015. The Mohegan and Mashantucket Pequot tribes scouted sites along the I-91 corridor for a satellite casino location

8 | THE COMMERCIAL RECORD | MARCH 2018

designed to snag Nutmeg State gamblers who may otherwise take their business to Western Massachusetts’ first casino.

MGM Springfield is scheduled to open this fall.

“We’re seeing the effects of market saturation in this region, and Foxwoods and Mohegan Sun are looking to find some way to stem the flow of cash back to Massachusetts,” said Paul DeBole, a professor of political science at Lasell College in Newton, Massachusetts. “It’s a good business strategy.”

Yet the “demolition ceremony” took place instead of a groundbreaking because the tribes still need approval from the U.S. Department of the Interior to begin construction of Connecticut’s first native American-owned casino not located on tribal lands. The two tribes and the state of Connecticut in November filed suit against the interior department after it failed to act on an amendment to decades-old Indian gaming compacts needed for the East Windsor project to get off the ground.

A Risky Bet on Expansion The compacts approved in 1991 and 1994 granted Foxwoods and Mohegan Sun exclusive rights to casino gambling in Connecticut, in exchange for giving the state a 25 percent cut of all slot machine revenues. The same formula would apply at the East Windsor casino, a 100,000-square-foot facility that would be dwarfed by MGM’s 759,000-square-foot resort in downtown Springfield.

At the demolition ceremony, tribal leaders said they expect the legal dispute to be settled this year in their favor. But the prospect of a drawn-out court battle means a potential lost opportunity both for the tribes and their essential business partner in Hartford.

“Any delay is going to help MGM,” said Jacob Raver, an attorney for the law firm Goodwin in Boston.

Proponents of the East Windsor project attribute the delays to intense lobbying by MGM that has influenced Trump administration officials.

Ken Salazar, who was secretary of the interior in the Obama administration, argued in a March 2017 letter to Gov. Dannel Malloy that the tribes could jeopardize their existing gaming compacts.

Now a partner at Boston-based law firm WilmerHale, Salazar described the 25 percent revenue share as “unusually high” and predicted the Interior Department would be tempted to reduce it if it reopened the compacts.

Such a federal review wouldn’t have been necessary had not Connecticut legislators specifically required it as part of the bill authorizing the third casino,

Foxwoods and Mohegan Sun could lose more than $252 million in annual revenues to new casinos in Massachusetts and New York.

Goodwin’s Raver noted. That may have been a strategy to ensure that the state’s existing revenue share wouldn’t be jeopardized, he said. But in the short term, it may have backfired.

“Why would they add something that could go wrong? The Connecticut legislature didn’t want to gamble at all with the current slot revenue-sharing agreement,” he said.

A federal lawsuit filed in November by the tribes and Connecticut Attorney General George Jepson argues that the amended compact was effectively approved on a technicality because Secretary of the Interior Ryan Zinke failed to act on it within 90 days.

MGM Springfield’s potential financial drain on Foxwoods and Mohegan Sun is substantial, according to recently updated market research by Clyde Barrow, a professor at University of Texas Rio Grande Valley and longtime casino researcher.

A study by Barrow’s consulting company, Pyramid Assoc. LLC, estimates that Foxwoods and Mohegan Sun could lose over $252 million in annual revenues including non-gaming dollars to new casinos in Massachusetts and upstate New York. The study, commissioned by Foxwoods and Mohegan Sun, predicted a loss of $100 million in slot revenues and 9,300 jobs.

■ Email: sadams@thewarrengroup.com

MARCH 2018 | THE COMMERCIAL RECORD | 9

STATE STATISTICS Number of Single-Family Sales by Price Range

10-Year Single-Family Sales 2,500

2,000 1,740

Lorem ipsum

1,480

2,000 $700K+

960

$500k-$699k

700

1993

1998 2003 $400k-$499k

2008

2013

2018

$300k-$399k

500

$0-$299k

400

NUMBER OF SALES

NUMBER OF SALES

1,220

1,500

1,000

300

500

200 100 0

1993

1998

2003

2008

2013

2018

*Statistics include sales January - January All Years Source: The Warren Group

0

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

*Statistics include sales January - January All Years Source: The Warren Group

Lis Pendens and Foreclosures by Month 1,500

Lis Pendens Foreclosure Deeds 1,125

750

375

0

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan

2016

10 | THE COMMERCIAL RECORD || MARCH MARCH2018 2018

2017

2018

Top 5 Lenders by Market Share Refinance Mortgages

Multifamily Median Price $300,000

Quicken Loan Inc | 2018 Rank: 1 | 2017 Rank: 1

2-Family 7.05%

3-Family

$240,000

5.23%

Webster Bank | 2018 Rank: 2 | 2017 Rank: 3

PRICE

$180,000

$120,000

6.91% $60,000

4.24% 0

JPMorgan Chase Bank | 2018 Rank: 3 | 2017 Rank: 4

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 *Statistics include sales January - January All Years Source: The Warren Group

3.19%

20-Year Residential Median Prices 3.70%

$300,000 Single-Family

CT Housing Fin Auth | 2018 Rank: 4 | 2017 Rank: 11

Condo

$240,000

3.11%

$180,000

Wells Fargo Bank NA | 2018 Rank: 5 | 2017 Rank: 2

PRICE

2.14%

$120,000

2.71% $60,000

4.24% 0

2018

2017

*MarketShare percent includes loans through January for both years

98 99 00 01 02 03 04 04 06 07 08 09 10 11 12 13 14 15 16 17 18 *Statistics include median prices January - January All Years Source: The Warren Group

MARCH MARCH 2018 2018 || THE COMMERCIAL RECORD | 11

Actions Against Agents

STATE DISCIPLINES BROKERS, AGENTS ABOUT EVERY THREE DAYS Most Actions Are Minor, But Big Mistakes Can Be Painful

BY JIM MORRISON | COMMERCIAL RECORD STAFF

T

he Connecticut Real Estate Commission meted out 300 disciplinary actions between Jan. 1, 2015, and Nov. 30, 2017, according to state records.

Of the 300 disciplinary actions, 242 were for failure to maintain continuing education requirements. There were 16 for negligent/incompetent work, 14 for making misrepresentations to clients, nine for practicing without a license, eight for employing an unlicensed person and eight for fraud.

The number of actions is relatively small given the thousands of agents and brokers working on hundreds of thousands of sales and rentals that took place during that time, but some of the alleged offenses were big.

Failure to Disclose Material Facts Judith McGuinness, of William Raveis in Madison, was accused of fraud, misrepresentation and failure to disclose material facts in January 2017.

According to the complaint, a man in the U.S. Navy relocated to the Groton submarine base with his wife and bought a house in Clinton. When they were shown the house, McGuinness, the listing agent, provided them with a septic pumping report. The report said the septic system was in good working order.

After moving in, the new owners coin-

12 | THE COMMERCIAL RECORD | MARCH 2018

cidentally met another couple who had previously backed out of a deal to buy the same house because an expert told them the septic system was 52 years old, structurally damaged, too small for the house and should be replaced.

In their complaint, the new owners allege McGuinness hid the fact that the house had been under agreement before so they wouldn’t ask why the previous buyers backed out of the deal. McGuinness denied the allegation. She did not respond to a request for comment from The Commercial Record.

In a written response to the complaint against her, McGuinness said she was upfront about the age of the system and was clear the pumping report was not an inspection report. “I never said that the pump out report was an inspection report or a substitution

for an inspection report,” she wrote. “Perhaps this complaint is better directed at their agent for failing to advise them of the importance of getting a septic inspection, especially when I told them it was an old system.”

The disclosure filled out by the sellers also said the septic system had no problems.

The state found that McGuinness had access to the septic inspection report outlining its deficiencies and recommending its replacement and failed to give it to the buyers. The State Real Estate Examiner recommended that McGuinness and her broker, William Raveis, propose a remedy for the complainant, or face actions against their licenses.

William Raveis agreed to pay the buyers $39,025 for the design and replacement of their septic system. In an assurance of voluntary compliance (AVC), which is not an admission of guilt, McGuinness agreed not to “misrepresent or conceal any material facts in any transaction” in the future, a $1,500 penalty and a six-month suspension of her license that expires May 31, 2018.

Personality Conflict Leads to Fine Christine Sladyk, formerly of Century 21 Classic Homes in Glastonbury, met with clients on Feb. 4, 2017. They told her they’d like to buy a home within six months. Sladyk showed them a property they made an offer on, but it wasn’t accepted.

In an email dated Feb. 12, the complainant told Sladyk they didn’t want to work with her any more. Sladyk asked the broker, Linda Muraski to respond. Muraski’s email response to the complainant said the complainants were contractually obliged to work with Sladyk until Aug. 30, 2017. She said if they could choose to work with any of the 60 other Century 21 Classic Homes agents, or they could agree to a referral fee of 30 percent of the commission if they buy a home through another brokerage.

The copy of the exclusive right to represent buyers contract the buyers were given has no end date filled in. The copy the office retained says the contract is in effect until Aug. 30, 2017. The complainant said they were only given the contract to sign after Sladyk showed them properties. In her written response to the complaint, Sladyk

said she had them sign the contract before showing them any properties.

“I swear that I adhered to the code of ethics and standards of practice of the national Association of Realtors,” Sladyk wrote. “I had been honest, truthful, faithful and efficient.”

Sladyk declined to comment on the complaint. Muraski confirmed she is no longer with Century 21 Classic Homes, but

“

ent with two dogs who was interested in renting her home.

The client eventually negotiated a reduced rent and moved in on April 1. The complainant paid Keeney a commission directly and did not go through his broker. Soon after the tenant’s rent check bounced and the complainant called Keeney asking him not to cash the check. He had already cashed it but reimbursed her.

“I am at fault for not diligently producing documents and for accepting cash without informing my broker.”

— Benjamin Keeney, RE/Max Right Choice, Newtown

said that her departure from the firm is unrelated to this complaint. Sladyk is now with Realty World in Simsbury.

Because the contract is between the prospective buyer and the brokerage, not the agent, the complaint was filed against Muraski. In an interview, Muraski maintained the importance of enforcing the contract between the brokerage and prospective buyers, and said she believes Sladyk acted appropriately.

“We’re all about customer service,” Muraski said in an interview. “If someone’s not happy, we have 60 agents within the company. We’ll reassign them. It doesn’t matter why. It only happens once every year or two. If we don’t back these agreements, they’re not worth the paper they’re written on.”

In an AVC dated March 31, 2017, Muraski agreed to pay a $150 fine, release the buyers from the contract and agree not to show properties to buyers before getting a signed buyer agency agreement.

Sales Agent Brokered a Deal Without a License According to a complaint, a homeowner facing foreclosure alleged that RE/Max Right Choice sales agent Benjamin N. Keeney, of Newtown, responded to her online ad seeking a tenant for her property in March 2016. He said he had a cli-

The landlord filed a complaint with the state and Keeney, who did not respond to a request for comment, wrote in his response, “I am at fault for not diligently producing documents and for accepting cash without informing my broker.”

In an AVC signed in Sept. 15, 2016, Keeney agreed to a $2,000 fine and agreed not to engage as a broker without a license, not to accept compensation without the knowledge and consent of his broker and to follow the rules regarding representation.

Anonymous Tips Leads to Fines After receiving several anonymous tips, the state audited RE/Max Realty Group in Gales Ferry. It found rep agreements that weren’t signed until homes were shown and documents missing from files. Buyer rep agreements were not present for all buyer clients. Some rep agreements were signed upon writing offers, not prior to showings as required.

In three separate AVCs signed in July 2017, co-owner Carol L. Christiansen agreed to a $500 fine, co-owner Masha Robarts agreed to a $2,000 fine and broker Merry Cassabria agreed to a $1,000 fine.

All three agreed not to violate the agency and disclosure rules.

■ Email: jmorrison@thewarrengroup.com

MARCH 2018 | THE COMMERCIAL RECORD | 13

C-CHANGES IN CONNECTICUT’S EXECUTIVE SUITES

Torrington Savings Bank announced the addition of Rita Myers as vice president of direct banking to its management team. Myers comes to Torrington Savings with over 20 years of banking experience, most recently from Bankers’ Bank Northeast, where she was the senior vice president of operations and BSA officer. Prior to that role, she served as senior vice president of operations and IT at Naugatuck Valley Savings and Loan. She has also held positions at Centerbank, formerly located in Waterbury.

Litchfield Bancorp recently appointed Laura Berendsohn as assistant vice president and branch manager of its Washington Depot office. Berendsohn is a current ambassador for the Washington Business Association and a volunteer with the New Milford High School football team.

Kenneth Weinstein has begun his tenure as the new president and CEO of Newtown Savings Bank. He replaces John Trentacosta, who held the role of president and CEO for eight years, and spent two decades at the $1.2 billion asset bank before retiring at the end of 2017. Trentacosta will become chairman of the bank’s board of directors. A career community banker, Weinstein joined Newtown Savings Bank in 2011, and was promoted to senior vice president of retail banking in May of 2013, and then executive vice president in April 2017. Also part of the transition, Anthony F. Giobbi was promoted to chief banking officer. Giobbi joined the bank in March 2014 as senior vice president of commercial lending, became chief lending officer in July 2015 and then executive vice president in April 2017. He is on the boards of Catholic Charities and Immaculate High School.

Savings Institute Bank & Trust has announced nine promotions: Cristina Feden, senior vice president; Cynthia Palmer, assistant vice president; Kathryn Tracey, vice president; Jennifer Theofanidis-Cronin, assistant vice president; Ryan Stepalavich, assistant treasurer; Maria Grenier, operations officer; Sarah Duval, operations officer; Emily Petrik, branch officer; and Lisa Hopkins, branch officer.

Farmington Bank announced the promotion of four officers: Linda Mucciacciaro, retail operations manager, was promoted from vice president to senior vice president. Mucciacciaro has been with Farmington Bank for nearly 13 years. Brendan Goodrich, branch manager of Farmington Bank’s Main Street office in Farmington, was promoted from assistant vice president to vice president. Goodrich is a 12-year veteran at Farmington Bank. Steve Gemme, Farmington bank’s property facility support manager, was promoted from assistant vice president to vice president. He has been with Farmington Bank for 12 years. Jennifer Daukas, investor relations officer and a seven-year veteran of Farmington Bank, was promoted from vice president to senior vice president.

AWARDS & ACCOLADES First County Bank received the Women’s Choice Award for offering a distinguished portfolio of services and tools to its advisors and consumers. To earn the Women’s Choice Award Financial Firm seal, an organization must uphold a variety of criteria within four pillars: marketing tools, educational support, seminars/workshops and community outreach. The Women’s Choice Award was created by Delia Passi, an advocate for female consumers and former group publisher of Working Woman and Working Mother magazines.

Passi created the Women’s Choice Award for Financial Advisors and Firms in an effort to help women identify those advisors and organizations who are committed to providing quality service to female investors.

14 | THE COMMERCIAL RECORD | MARCH 2018

IN PERSON A Commercial Record online exclusive, the In Person features in-depth interviews with top talent in finance and real estate, from CEOs to nonprofit leaders, entrepreneurs to industry veterans. Excerpts from these interviews appear in the print version of The Commercial Record; to see the complete stories, please visit www.commercialrecord.com.

JOE SCOZZAFAVA, LUXURY PROPERTY SPECIALIST, WILLIAM RAVEIS After a long career in marketing for companies that included Apple, Hewlett Packard and Xerox, Joe Scozzafava turned his talents to real estate.

How did you differentiate yourself from the pack getting started in a competitive and mature market?

It’s not easy to break into this business. I did it at a different stage of life than a lot of people.

It’s hard if you’re younger and you need cash flow. My kids were out of college and if I needed to spend a year doing this without an income, I could. I had the luxury of time to develop a client base. If they’re happy with you, they refer their friends.

Is your market strong right now?

There has been strength in the high end in the past six to 12 months, which is interesting. That has to do with the major price correction we had. Houses that once sold for between $7 million and $8 million are now selling for between $4 million and $5 million. There are great values out there for buyers. There is a trend away from the 8,000-square-foot McMansion toward a 4,000- to 5,000-square-foot house with high-quality amenities.

JIM FAGAN, SENIOR MANAGING DIRECTOR, CUSHMAN & WAKEFIELD OF CONNECTICUT Jim Fagan says he can’t think of a career choice that would be more enjoyable than commercial real estate, comparing the competition and day-to-day variety of the job to an athletic contest.

What’s the reason for the recent uptick in Greenwich office rents?

The central business district of Greenwich is seven or eight buildings and 1.5 million square feet, and those are the buildings that are most favored for the very high-profile financial firms. Most of the tenants are looking to be within walking distance of the train station so they can attract the best employees. For a while, that segment of the market got a little soft.

Are office landlords continuing to look at medical office conversions?

Some buildings are being torn down for residential. You’re seeing more of the teardowns in Westchester than in Fairfield, but also conversions to congregate care. In Westport, Davis Cos. bought four buildings on the river and converted them into medical. In order to get the parking, they tore down one of the buildings.

Medical users want five to six spaces for each 1,000 square feet of building. In Stamford, they’re willing to go without, because there’s better transit options available.

TRACY HALL, IT ASSURANCE MANAGER, WOLF & CO. Whether a fire or a power outage or a data breach, Tracy Hall has been helping banks prepare for and get ahead of disasters for more than two decades.

What do you see as the current business continuity hot topics that banks should be focusing on?

There are several areas being scrutinized by regulatory bodies regarding business continuity planning. Cybersecurity preparedness is a big area of concern right now as we see increasing overlap between cyber Incident response planning and business continuity planning. Similarly, vendor management and business continuity planning are also integrating more through technologies being outsourced to service providers.

What assistance can your company bring to banks when considering cybersecurity as part of their overall preparedness?

In addition to assisting our clients in developing incident response plans, we work with companies to make sure they have cybersecurity training and communication procedures in place, so everyone from regulatory bodies to forensics are included in incident response plans that align with the business continuity plan. We also assist with the IT risk assessments that ensure critical systems are identified, backed up and protected from a security and business continuity planning perspective.

MARCH 2018 | THE COMMERCIAL RECORD | 15

NEWS ROUNDUP GLOBAL TECH FIRM TO OPEN INNOVATION HUB IN HARTFORD

BUSINESS OWNERS PLEAD GUILTY TO PROFITING FROM UNLAWFUL EXPORTS

Global consulting and technology firm Infosys will open its next technology and innovation hub in Hartford. The $20.6 million project will see the creation of 1,000 tech jobs in the state’s capital city by 2022.

The Connecticut Technology and Innovation Hub will have a special focus on insurance, health care and manufacturing. It will serve as the global hub for Infosys’ InsurTech and HealthTech efforts.

“Today marks yet another landmark day in Connecticut’s economic development efforts, at a time when our investments are bringing new life and vigor to our Capital City,” Gov. Dannel P. Malloy said in a statement. “I am thrilled to welcome Infosys to Connecticut and congratulate them on their decision to establish a technology and innovation hub in Hartford. Connecticut’s tremendous assets and talent pipeline continue to attract high caliber companies to the state, and I look forward to the value that Infosys will bring to our business community.”

“We are excited to announce the expansion of our presence in Connecticut and to create 1,000 technology jobs in the state,” Ravi Kumar, president of Infosys, said in a statement. “Hartford’s position as the Insurance Capital of the World, paired with Connecticut’s world-renowned academic institutions, will place Infosys in close proximity to valued clients and accelerate the recruitment of highlyskilled local talent.”

Infosys inaugurated its first technology and innovation hub in Indianapolis and has announced plans for another in Raleigh, North Carolina, as well as a design and innovation hub in Providence, Rhode Island.

As part of the company’s establishment of the hub in Hartford, the Connecticut Department of Economic and Community Development will provide up to $12 million in grants after certain job creation milestones are met through Malloy’s First Five Plus Program. In addition, the company is eligible to receive up to $2 million in training grants to support partnerships the company creates with local education organizations. State funding will be used for the purchase of computer and office equipment, leasehold improvements and training. The company is also eligible for additional assistance if it significantly exceed 1,000 jobs, and the incentives in place can support up to 2,000 jobs.

Two Connecticut business owners recently admitted to profiting from unlawful exports to Pakistan..

Muhammad Ismail, of Meriden, and Kamran Khan, of Hamden, pleaded guilty in Bridgeport federal court to money laundering in connection with funds they received for the unlawful export of goods to Pakistan. A third defendant, Imran Khan, of North Haven, previously pleaded guilty to violating U.S. export laws.

Ismail and his two sons, Kamran and Imran Khan, engaged in a scheme to purchase goods that were controlled under the Export Administration Regulations (EAR) in order to export those goods without a license to Pakistan, in violation of the EAR. Through companies conducting business as Brush Locker Tools, Kauser Enterprises-USA and Kauser EnterprisesPakistan, the three defendants received orders from a Pakistani company that procured materials and equipment for the Pakistani military, requesting them to procure specific products that were subject to the EAR. When U.S. manufacturers asked about the end-user for a product, the defendants either informed the manufacturer that the product would remain in the U.S., or they completed an end-user certification indicating that the product would not be exported.

The products were then shipped to Pakistan on behalf of either the Pakistan Atomic Energy Commission, the Pakistan Space & Upper Atmosphere Research Commission or the National Institute of Lasers & Optronics, all of which were listed on the U.S. Department of Commerce Entity List. The defendants never obtained a license to export any item to the designated entities even though they knew that a license was required prior to export. The defendants then received the proceeds for the sales.

Ismail and Kamran Khan each pleaded guilty to one count of international money laundering and for causing funds to be transferred from Pakistan to the U.S. in connection with the export control violations.

Upon sentencing, Ismail and Kamran Khan face up to 20 years in prison. Since the time of their arrests in December 2016, Ismail has been released on a $50,000 bond, and Kamran Khan has been released on a $100,000 bond.

Imran Khan pleaded guilty to one count of violating the International Emergency Economic Powers Act. He is released on a $100,000 bond pending sentencing.

THE MOST VIEWED ARTICLES IN FEBRUARY • • • • • •

New Haven Biotech Firm CFO Charged with Embezzling $1M Farmington Bank Promotes Four 455-Apartment Unit Portfolio Sells for $48.25M Business Owners Plead Guilty to Profiting from Unlawful Exports Credit Card Charge-Offs Surging at Small Banks Additional Homeowners Eligible for Foundation Testing

16 | THE COMMERCIAL RECORD | MARCH 2018

• Homes in Lowest Price Tiers See Greatest Appreciation, Tightest Affordability • Former Pita Bakery Owner Sentenced to Prison for Fraud • States Seek to Lure Delta as Georgia Moves Forward on Threat • Tribes to Join in Demolition Ceremony at Casino Site

EVENTS WOMEN IN BANKING CONFERENCE

UNITED BANK TO OPEN FIRST BRANCH IN STAMFORD A Norwalk man was sentenced to six months in prison for tax eHartfordbased United Bank is planning to open its first full service branch in Stamford.

The branch, which would be located at 415 Greenwich Ave., would be the bank’s 54th branch location within its Connecticut and Massachusetts footprint. It would be United Bank’s second location in Fairfield County; the bank opened a commercial loan production office on Green Farms Road in Westport in 2015.

The proposed branch includes multiple teller stations, ATM access, a conference room and private office space for branch managers and other bankers to consult with customers. In addition to retail banking activity, the branch provides a conduit to commercial and mortgage banking as well as financial advisory services.

“Our Fairfield County commercial banking team has been doing very well since we opened that LPO more than three years ago,” William H.W. Crawford IV, CEO of the bank, said in a statement. “By establishing a branch in Greenwich, we are directly responding to what our customers have been telling us: they want United Bank to have a greater physical presence in Fairfield County where they can conduct more of their banking activity.”

“This market has great demographics – among the best in the country – so we’re making sure we have lower Fairfield County covered and we look forward to enhancing our commercial, business and retail banking opportunities through this branch in Greenwich,” Crawford added.

Friday, April 27, 2018 Mystic Marriott, 625 North Road, Groton, CT 06340 Who should attend: Banking professionals More information: www.ctbank.com

455-APARTMENT UNIT PORTFOLIO SELLS FOR $48.25M The Tree Group portfolio, consisting of 455 apartment units in Groton, New London and Wallingford, has sold for $48.25 million.

The property portfolio contains Peppertree Apartments, with 204 units in Groton; Silvertree Apartments, with 180 units in Wallingford and three complexes in New London known as Harbortree Apartments.

Both Peppertree and Silvertree Apartments were constructed by the seller in 1975 and 1985 respectively, while the Harbortree properties were acquired by the seller over a period of years.

The properties in this portfolio have amenities including swimming pools, tennis courts, fitness centers, community rooms, walking trails and picnic areas.

Chozick Realty represented the seller in this transaction and procured the buyer.

COMPTROLLER ASKS CVS TO EXPLAIN ITSELF OVER CONFLICT OF INTEREST CLAIMS Comptroller Kevin Lembo recently released a letter to CVS Health – the state’s pharmacy benefit manager (PBM) – that questions whether the company’s financial interests motivate decisions to include certain pharmaceuticals on its approved drug list over the interests of those patients covered by the state health plan.

After discovering disturbing trends in the state’s claims data late last year related to prescriptions of Horizon Pharma pharmaceutical products, Lembo worked with the state Health Care Cost Containment Committee to stop any medically unnecessary prescriptions of certain Horizon Pharma drugs.

Horizon Pharma specializes in drugs that combine the active ingredients of commonly used affordable over-the-counter drugs (for example ibuprofen and Pepcid AC) that are regularly prescribed together – and then charges over 7000 percent more than what those drugs typically cost when purchased individually.

Lembo previously raised concerns about Horizon Pharma’s relationships with certain prescribers and pharmacies and has now requested information and a meeting with CVS Health related to any agreement it may have with Horizon Pharma.

CVS initially notified Horizon Pharma that it would remove a number of its products from its formulary and place them on an

exclusion list. CVS ultimately restored those products to its formulary, and Lembo would like to know why.

“Business practices like those used by Horizon are driving up overall health care spending without adding value to the system. As a plan sponsor we depend on our pharmacy benefit manager to act as a bulwark against abusive manufacturer pricing and bring down total pharmacy costs. I have significant concerns about the fact that spiking costs to the state plan associated with Horizon Pharma products were only discovered by a review initiated by the state and its consultants – and not brought to our attention by CVS Health.”

MARCH 2018 | THE COMMERCIAL RECORD | 17

TOP COMMERCIAL TRANSACTIONS Visit www.commercialrecord.com for a complete list of commercial transactions updated weekly.

TOP 3 STATEWIDE 437 Meloy Rd, West Haven......... $13,500,000

2 Knox St, West Haven...............$13,500,000*

4 Knox St, West Haven...............$13,500,000*

Use:................................Apartment Bldg - 4-8 Units

Use:................................Apartment Bldg - 4-8 Units

Use:................................Apartment Bldg - 4-8 Units

Buyer: .. Orange Gardens LLC & Orange Gardens 2 LLC

Buyer:.. Orange Gardens LLC & Orange Gardens 2 LLC

Buyer:.. Orange Gardens LLC & Orange Gardens 2 LLC

Seller: ................................ Green Olive Props Mgmt

Seller: ................................ Green Olive Props Mgmt

Seller:................................ Green Olive Props Mgmt

Mtg:..................... Greystone Servicing $10,303,000

Mtg: .....................Greystone Servicing $10,303,000

Date: ......................................................... 01/03/18

Date: ......................................................... 01/03/18

Date:......................................................... 01/03/18

Total Assessed Value (2017):..................... $145,740

Total Assessed Value (2017):..................... $145,320

Total Assessed Value (2017):..................... $145,740

Lot Size: ........................................................ 7000sf

Lot Size:........................................................ 6595sf

Lot Size:........................................................... 7000sf

FAIRFIELD 131 Danbury Rd, Wilton.................. $9,225,000 Use:............................................. Commercial Building Buyer:.................................................. FGI Wilton LLC Seller: ..................................................131 Wilton LLC Date:............................................................ 01/19/18 Total Assessed Value (2017): .....................$5,311,670 Lot Size:....................................................... 206474sf Prior Sale: .....................................$8,275,000 (02/06)

71 Sound View Dr, Greenwich........ $8,200,000 Use:................................... Apartment Bldg - 4-8 Units Buyer: ................................ RS 125 Field Point Rd LLC Seller: .........................................Peterson Equities Ltd Date: ............................................................ 01/22/18 Total Assessed Value (2017): ........................$993,860 Lot Size:......................................................... 14375sf

100 Oakview Dr, Trumbull............... $4,500,000 Use:............................................. Commercial Building Buyer:................................... Trumbull Developers LLC Seller: .................................Cannon Solutions America Mtg:............................. Washington Tr Co $3,960,000 Date: ............................................................ 01/16/18 Total Assessed Value (2017): .....................$3,593,730 Lot Size: ....................................................... 470012sf

85-R Salmon Brook St, Granby....... $2,200,000 Use:......................................................... Open Space Buyer: ...................................Upstream Properties LLC Seller: ........ Alison M Trinkle Tr, Tr for Alice E Mascalo T Date: ............................................................ 01/31/18 Total Assessed Value (2017): ...............................$570 Lot Size: ....................................................... 274428sf

1010 Day Hill Rd, Windsor.............. $1,525,000 Use:..................................................Industrial Building Buyer:...................................... MBS Associates 2 LLC Seller: ....................................... 11 Day Hill Realty LLC Date: ............................................................ 12/29/17 Total Assessed Value (2017):..................... $1,021,510 Lot Size:....................................................... 220414sf Prior Sale:..................................... $1,145,500 (03/98)

Webber Rd, Kent.............................. $913,180 Use:.................................. Forest Use-Christmas Trees Buyer:.............................. LRK LLC & Michael D Lynch Seller:.................. Benjamin T Heller & Patricia R Heller Date: ............................................................ 01/16/18 Total Assessed Value (2017): ..........................$14,300 Lot Size:..................................................... 4442684sf Prior Sale: .....................................$1,189,000 (06/93)

48 Maple Ave, Thomaston............... $625,000 Use:.............................................Industrial Warehouse Buyer:.......................................... Thomsat Realty LLC Seller: ............................... KDC Property Management Date: ............................................................ 01/30/18 Total Assessed Value (2017): ........................$190,190 Lot Size: ......................................................... 85378sf

6 John Street Ext, Clinton.............. $1,100,000 Use:.............................. Mixed Use-Prim Res & Comm Buyer: .............................................. Arista Clinton LLC Seller:................................................ Richard Mazzella Mtg:.................................... Eastern Bank $4,225,000 Date:............................................................ 01/10/18 Total Assessed Value (2017):........................ $300,300 Lot Size: ......................................................... 19166sf Prior Sale: ........................................$700,000 (02/12)

17 Plains Rd, Essex........................ $1,100,000 Use:...................................................... Industrial Land Buyer:........................................ 17 Plains Road LLC 2 Seller: ......................................... C P Burdick&Son Inc Mtg: .................................C P Burdick&Son $800,000 Date:............................................................ 01/25/18 Total Assessed Value (2017): ........................$259,100 Lot Size:....................................................... 114562sf Prior Sale: ........................................$500,000 (04/13)

HARTFORD 323 Cromwell Ave, Rocky Hill......... $5,474,740 Use:............................................. Commercial Building Buyer:............................................. Jordan Realty LLC Seller: ............................................Broad Street 3 LLC Date:............................................................ 02/01/18 Total Assessed Value (2017): .....................$2,036,370 Lot Size:......................................................... 57064sf Prior Sale:........................................ $244,000 (09/99)

LITCHFIELD 20 Danbury Rd, New Milford........... $1,750,000 Use:............................................. Commercial Building Buyer: .......................................Sidhivinayak Realty Inc Seller: ................................Marathon Petroleum Co LP Mtg:.................................. Farmington Bk $1,000,000 Date: ............................................................ 01/30/18 Total Assessed Value (2017): ........................$431,550 Lot Size:......................................................... 92783sf Prior Sale: .....................................$1,280,000 (10/14)

MIDDLESEX 1000 Boston Post Rd, Old Saybrook.... $3,600,000 Use:............................................. Commercial Building Buyer: ................................ Saybrook CT Property LLC Seller: ...................................Saybrook TMC Assoc LP Mtg: ............................TC Fund Saybrook $2,250,000 Date:............................................................ 01/08/18 Total Assessed Value (2017): .....................$2,651,500 Lot Size: ....................................................... 422532sf Prior Sale:........................................ $225,000 (10/96)

18 | THE COMMERCIAL RECORD | MARCH 2018

FEATURED PROPERTY 460 Hartford Pike, Killingly............................................................

$275,000

Use:.................................................................................................Restaurant/Bar Buyer: .................................................................................... 46 Hartford Pike LLC Seller: ..................................................................................................... Mozz LLC Mtg: ........................................................................Jewett City Svgs Bk $206,250 Date: ........................................................................................................01/05/18 Total Assessed Value (2017): ................................................................... $143,360 Lot Size: .................................................................................................... 38768sf Prior Sale: ................................................................................... $240,000 (09/07)

NEW HAVEN 437 Meloy Rd, West Haven............$13,500,000 Use:................................... Apartment Bldg - 4-8 Units Buyer: .... Orange Gardens LLC & Orange Gardens 2 LLC Seller: ....................................Green Olive Props Mgmt Mtg:........................ Greystone Servicing $10,303,000 Date: ............................................................ 01/03/18 Total Assessed Value (2017):........................ $145,320 Lot Size:........................................................... 6595sf

2 Knox St, West Haven................. $13,500,000* Use:................................... Apartment Bldg - 4-8 Units Buyer:..... Orange Gardens LLC & Orange Gardens 2 LLC Seller: ....................................Green Olive Props Mgmt Mtg: ........................Greystone Servicing $10,303,000 Date:............................................................ 01/03/18 Total Assessed Value (2017):........................ $145,740 Lot Size:........................................................... 7000sf

4 Knox St, West Haven................. $13,500,000* Use:................................... Apartment Bldg - 4-8 Units Buyer:..... Orange Gardens LLC & Orange Gardens 2 LLC Seller:.................................... Green Olive Props Mgmt Date: ............................................................ 01/03/18 Total Assessed Value (2017):........................ $145,740 Lot Size: ........................................................... 7000sf

287-291 Main St, Norwich............... $855,000 Use:............................................. Commercial Building Buyer: ........................................................... VMA LLC Seller:..................................................... Hameed LLC Date: ............................................................ 01/09/18 Total Assessed Value (2017): ........................$373,700 Lot Size: ........................................................... 5227sf Prior Sale: ........................................$750,000 (05/17)

38 E Main St, Stonington................. $850,000 Use:............................................. Commercial Building Buyer:.............................................................. 38 LLC Seller: ........................................................Isle Rd LLC Mtg:............................... C George Kanabis $524,310 Date: ............................................................ 01/25/18 Total Assessed Value (2017): ........................$816,500 Lot Size:......................................................... 23087sf

253 Talcottville Rd, Vernon............. $4,300,000 Use:................................................... Commercial Use Buyer: ....................................... Talcottville Vernon Dev Seller: ........................................ Bostonrockville 2 LLC Date: ............................................................ 01/18/18 Total Assessed Value (2017): ........................$222,160 Lot Size: ......................................................... 10454sf Prior Sale: ........................................$425,000 (12/09)

7 Daly Rd, Coventry......................... $341,000 Use:............................................. Commercial Building Buyer: .................................................. Daly Road LLC Seller: .................................................. Marilyn Petroka Mtg: ........................... Peoples United Bank $224,000 Date: ............................................................ 01/05/18 Total Assessed Value (2017):........................ $313,900 Lot Size:......................................................... 58370sf

113 School St, Killingly.................... $500,000 Use:......................................... Manufacturing Building Buyer: ................................. Supported Living Grp LLC Seller: .......................................................Bamcis LLC Mtg: ..................................Hometown Bank $375,000 Date:............................................................ 12/27/17 Total Assessed Value (2017): ........................$164,080 Lot Size: ......................................................... 28967sf Prior Sale:........................................ $265,000 (06/15)

460 Hartford Pike, Killingly.............. $275,000 Use:..................................................... Restaurant/Bar Buyer: ......................................... 46 Hartford Pike LLC Seller: .......................................................... Mozz LLC Mtg: .............................Jewett City Svgs Bk $206,250 Date: ............................................................ 01/05/18 Total Assessed Value (2017): ........................$143,360 Lot Size: ......................................................... 38768sf Prior Sale: ........................................$240,000 (09/07)

NEW LONDON 9 Whitehall Ave, Stonington............ $3,525,000 Use:............................................. Commercial Building Buyer:.............................................. PMSM Samp LLC Seller:..................................... Hudson Hospitality Hlds Mtg: ......................Edgewood Mac 5 LLC $2,900,000 Date:............................................................ 01/25/18 Total Assessed Value (2017): .....................$2,787,900 Lot Size: ....................................................... 230868sf Prior Sale:..................................... $3,285,000 (08/15)

TOLLAND 243 Talcottville Rd, Vernon............. $4,300,000 Use:......................................................... Open Space Buyer: ....................................... Talcottville Vernon Dev Seller:........................................ Bostonrockville 2 LLC Mtg: .........................Bostonvernon 2 LLC $1,000,000 Date:............................................................ 01/18/18 Total Assessed Value (2017):.......................... $27,720 Lot Size: ..................................................... 1568160sf Prior Sale: .....................................$3,400,000 (01/08)

WINDHAM 1293 Norwich Rd, Plainfield........... $1,750,000 Use:..................................................Industrial Building Buyer:...................................................... Norwich LLC Seller: ......................................................P Camp LLC Mtg: ....................................Capstar Bank $1,000,000 Date:............................................................ 12/29/17 Total Assessed Value (2017): ........................$486,330 Lot Size:....................................................... 236531sf Prior Sale: ........................................$270,000 (05/15)

*Group sale.

MARCH 2018 | THE COMMERCIAL RECORD | 19

TRENDLINES

FAIRFIELD COUNTY SALES REPORT

NUMBER OF SALES

MEDIAN PRICE

JAN. 2017

JAN. %CHG 2017 2018 17-18 YTD

2018 YTD

1 Family

8

12

50.00%

8

12

50.00%

$298,750

$306,000

2.43%

$298,750

$306,000

2.43%

Condo

5

14

180.00%

5

14

180.00%

$172,500

$331,046

91.91%

$172,500

$331,046

91.91%

2 2

32

45.45%

22

32

45.45%

$298,750

$331,046

10.81%

$298,750

$331,046

10.81%

$151,000

-5.03%

%CHG 17-18

JAN. 2017

JAN. %CHG 2017 2018 17-18 YTD

2018 %CHG YTD 17-18

BETHEL

All Sales

BRIDGEPORT 1 Family

4 7

60

27.66%

47

60

27.66%

$159,000

$151,000

-5.03%

$159,000

Condo

2 0

26

30.00%

20

26

30.00%

$79,880

$68,750

-13.93%

$79,880

1 09

143

31.19%

109

143

31.19%

$143,000

$145,000

1.40%

$143,000

$145,000

$356,500

-16.71%

$428,000

$356,500 -16.71%

N/A -100.00%

$192,000

All Sales

$68,750 -13.93% 1.40%

BROOKFIELD 1 Family

8

14

75.00%

8

14

75.00%

$428,000

Condo

4

2

-50.00%

4

2

-50.00%

$192,000

1 9

18

-5.26%

19

18

-5.26%

$302,000

$353,000

1 Family

3 4

34

0.00%

34

34

0.00%

$281,950

Condo

2 9

28

-3.45%

29

28

-3.45%

$187,500

7 9

78

-1.27%

79

78

-1.27%

1 Family

1 4

18

28.57%

14

18

28.57%

Condo

0

0

0

0

1 6

19

18.75%

16

19

18.75%

$1,452,500

$1,400,000

1 Family

6

8

33.33%

6

8

33.33%

$430,000

$473,500

Condo

0

0

0

0

6

9

50.00%

6

9

All Sales

N/A - 100.00%

16.89%

$302,000

$353,000

16.89%

$287,805

2.08%

$281,950

$287,805

2.08%

$183,000

-2.40%

$187,500

$183,000

-2.40%

$232,000

$280,500

20.91%

$232,000

$280,500

20.91%

$1,340,000

$1,463,500

9.22% $1,340,000

$1,463,500

9.22%

DANBURY

All Sales

DARIEN

All Sales

N/A

N/A

N/A

N/A

N/A

N/A

-3.61% $1,452,500

N/A

N/A

$1,400,000

-3.61%

$473,500

10.12%

EASTON

All Sales

N/A

N/A

N/A

N/A

10.12% N/A

$430,000 N/A

N/A

50.00%

$430,000

$441,000

2.56%

$430,000

$441,000

N/A 2.56%

FAIRFIELD 1 Family

4 2

40

-4.76%

42

40

-4.76%

$627,000

$472,500

-24.64%

$627,000

$472,500 -24.64%

Condo

6

4

-33.33%

6

4

-33.33%

$343,500

$381,500

11.06%

$343,500

$381,500

5 8

52

-10.34%

58

52

-10.34%

$587,000

$466,000

-20.61%

$587,000

$466,000 -20.61%

All Sales

11.06%

GREENWICH 1 Family

3 0

22

-26.67%

30

22

-26.67%

$1,357,500

$1,250,000

Condo

1 5

13

-13.33%

15

13

-13.33%

$790,000

$610,000

-22.78%

$790,000

$610,000 -22.78%

5 3

47

-11.32%

53

47

-11.32%

$1,210,000

$955,000

-21.07% $1,210,000

$955,000 -21.07%

1 Family

1 2

16

33.33%

12

16

33.33%

$329,000

$355,750

8.13%

$329,000

$355,750

8.13%

Condo

4

3

-25.00%

4

3

-25.00%

$172,500

$223,000

29.28%

$172,500

$223,000

29.28%

2 1

24

14.29%

21

24

14.29%

$240,000

$331,750

38.23%

$240,000

$331,750

38.23%

$1,407,500

-9.19% $1,550,000

$1,407,500

-9.19%

All Sales

-7.92% $1,357,500

$1,250,000

-7.92%

MONROE

All Sales

NEW CANAAN 1 Family

1 5

14

-6.67%

15

14

-6.67%

$1,550,000

Condo

3

1

-66.67%

3

1

-66.67%

$366,250

1 8

16

-11.11%

18

16

-11.11%

$1,350,000

$1,331,250

0.00%

10

10

0.00%

$367,500

$333,000

0

1

0.00%

11

11

All Sales

N/A -100.00%

$366,250

-1.39% $1,350,000

N/A - 100.00% $1,331,250

-1.39%

$333,000

-9.39%

NEW FAIRFIELD 1 Family

1 0

10

Condo

0

1

1 1

11

All Sales

N/A

N/A

N/A

N/A

-9.39% N/A

$367,500 N/A

N/A

N/A

0.00%

$310,000

$327,000

5.48%

$310,000

$327,000

5.48%

$310,000

$372,500

20.16%

$310,000

$372,500

20.16%

NEWTOWN 1 Family

2 4

25

4.17%

24

25

4.17%

Condo

1

2

100.00%

1

2

100.00%

3 3

35

6.06%

33

35

6.06%

All Sales

20 | THE COMMERCIAL RECORD | MARCH 2018

N/A $325,000

N/A $320,000

N/A -1.54%

N/A $325,000

N/A $320,000

N/A -1.54%

Real estate & credit transactions updated every Thursday

www.commercialrecord.com • subscribers only

NUMBER OF SALES JAN. 2017

JAN. %CHG 2017 2018 17-18 YTD

2018 YTD

MEDIAN PRICE %CHG 17-18

JAN. 2017

JAN. %CHG 2017 2018 17-18 YTD

2018 %CHG YTD 17-18

NORWALK 1 Family

5 6

34

-39.29%

56

34

-39.29%

$421,000

$515,000

22.33%

$421,000

$515,000

22.33%

Condo

2 2

33

50.00%

22

33

50.00%

$225,000

$250,000

11.11%

$225,000

$250,000

11.11%

9 7

78

-19.59%

97

78

-19.59%

$387,000

$381,250

-1.49%

$387,000

$381,250

-1.49%

1 Family

1 2

7

-41.67%

12

7

-41.67%

$422,500

$490,000

15.98%

$422,500

$490,000

15.98%

Condo

0

0

0

0

1 3

8

-38.46%

13

8

All Sales

REDDING

All Sales

N/A

N/A

N/A

N/A

-38.46%

$395,000

$470,000

N/A

N/A

N/A

18.99%

$395,000

$470,000

N/A 18.99%

RIDGEFIELD 1 Family

1 9

19

0.00%

19

19

0.00%

$665,000

$675,000

1.50%

$665,000

$675,000

1.50%

Condo

3

6

100.00%

3

6

100.00%

$313,500

$306,000

-2.39%

$313,500

$306,000

-2.39%

2 3

29

26.09%

23

29

26.09%

$635,000

$530,000

-16.54%

$635,000

$530,000 -16.54%

1 Family

1 7

29

70.59%

17

29

70.59%

$337,000

$285,000

-15.43%

$337,000

$285,000 -15.43%

Condo

9

9

0.00%

9

9

0.00%

$342,000

$282,000

-17.54%

$342,000

$282,000 -17.54%

3 3

43

30.30%

33

43

30.30%

$320,000

$285,000

-10.94%

$320,000

$285,000 -10.94%

33.33%

3

4

33.33%

$425,000

$411,500

-3.18%

$425,000

$411,500

0

0

All Sales

SHELTON

All Sales

SHERMAN 1 Family

3

4

Condo

0

0

5

4

-20.00%

5

4

-20.00%

$338,200

$411,500

21.67%

$338,200

$411,500

21.67%

All Sales

N/A

N/A

N/A

N/A

N/A

N/A

N/A

-3.18% N/A

STAMFORD 1 Family

4 0

51

27.50%

40

51

27.50%

$503,500

$550,000

9.24%

$503,500

$550,000

9.24%

Condo

3 5

51

45.71%

35

51

45.71%

$280,000

$289,000

3.21%

$280,000

$289,000

3.21%

122

28.42%

95

122

28.42%

$425,000

$440,000

3.53%

$425,000

$440,000

3.53%

3.88%

All Sales

9 5

STRATFORD 1 Family

4 5

54

20.00%

45

54

20.00%

$218,000

$226,450

3.88%

$218,000

$226,450

Condo

6

11

83.33%

6

11

83.33%

$222,500

$195,000

-12.36%

$222,500

$195,000 -12.36%

6 0

76

26.67%

60

76

26.67%

$230,000

$224,035

-2.59%

$230,000

$224,035

-2.59%

$370,000

7.25%

$345,000

$370,000

7.25%

N/A -100.00%

$160,000

All Sales

TRUMBULL 1 Family

2 4

31

29.17%

24

31

29.17%

$345,000

Condo

3

1

-66.67%

3

1

-66.67%

$160,000

3 0

37

23.33%

30

37

23.33%

$332,500

$376,000

13.08%

$332,500

$376,000

13.08%

1 Family

6

10

66.67%

6

10

66.67%

$681,650

$775,000

13.69%

$681,650

$775,000

13.69%

Condo

0

0

0

0

8

12

50.00%

8

12

50.00%

$611,650

$645,000

All Sales

N/A - 100.00%

WESTON

All Sales

N/A

N/A

N/A

N/A

N/A 5.45%

N/A $611,650

N/A $645,000

N/A 5.45%

WESTPORT 1 Family

2 2

25

13.64%

22

25

13.64%

$1,371,443

$1,185,000

Condo

4

4

0.00%

4

4

0.00%

$498,500

$657,500

31.90%

$498,500

$657,500

31.90%

3 1

31

0.00%

31

31

0.00%

$915,000

$1,087,000

18.80%

$915,000

$1,087,000

18.80%

1 Family

1 4

7

-50.00%

14

7

-50.00%

$703,188

$550,000

-21.78%

$703,188

Condo

0

1

0

1

1 4

12

-14.29%

14

12

All Sales

-13.59% $1,371,443

$1,185,000 -13.59%

WILTON

All Sales

N/A

N/A

N/A

N/A

N/A

N/A

$550,000 -21.78% N/A

N/A

-14.29%

$703,188

$727,500

3.46%

$703,188

$727,500

3.46%

FAIRFIELD COUNTY 1 Family

5 08

544

7.09%

508

544

7.09%

$418,000

$395,000

-5.50%

$418,000

$395,000

-5.50%

Condo

1 69

210

24.26%

169

210

24.26%

$245,000

$245,000

0.00%

$245,000

$245,000

0.00%

936

9.60%

854

936

9.60%

$345,000

$349,500

1.30%

$345,000

$349,500

1.30%

All Sales

8 54

MARCH 2018 | THE COMMERCIAL RECORD | 21

TRENDLINES

HARTFORD COUNTY SALES REPORT

NUMBER OF SALES JAN. 2017

JAN. %CHG 2017 2018 17-18 YTD

2018 YTD

MEDIAN PRICE %CHG 17-18

JAN. 2017

JAN. %CHG 2017 2018 17-18 YTD

2018 %CHG YTD 17-18

AVON 1 Family Condo All Sales

1 8 4

2 3

14 2 19

-22.22% -50.00% -17.39%

18 4 23

14 2 19

-22.22% -50.00% -17.39%

$350,225 $185,000 $315,000

$573,000 63.61% $350,225 N/A -100.00% $185,000 $525,000 66.67% $315,000

$573,000 63.61% N/A - 100.00% $525,000 66.67%

BERLIN 1 Family Condo All Sales

1 0 4

2 0

10 5 17

0.00% 25.00% -15.00%

10 4 20

10 5 17

0.00% 25.00% -15.00%

$277,000 $214,800 $205,000

$268,000 $207,000 $216,000

-3.25% $277,000 -3.63% $214,800 5.37% $205,000

$268,000 $207,000 $216,000

BLOOMFIELD 1 Family 2 1 Condo 2

All Sales 2 7

16 5 25

-23.81% 150.00% -7.41%

21 2 27

16 5 25

-23.81% 150.00% -7.41%

$149,900 N/A $150,000

$183,500 $195,000 $194,000

22.41% $149,900 N/A N/A 29.33% $150,000

$183,500 22.41% $195,000 N/A $194,000 29.33%

BRISTOL 1 Family Condo All Sales

5 1 4

6 5

54 8 78

5.88% 100.00% 20.00%

51 4 65

54 8 78

5.88% 100.00% 20.00%

$174,700 $83,250 $168,900

$158,500 $112,865 $165,000

-9.27% $174,700 35.57% $83,250 -2.31% $168,900

$158,500 -9.27% $112,865 35.57% $165,000 -2.31%

BURLINGTON 1 Family 1 2 Condo 0

All Sales 1 6

4 2 10

-66.67% N/A -37.50%

12 0 16

4 2 10

-66.67% N/A -37.50%

$277,000 N/A $356,500

$321,200 15.96% $277,000 N/A N/A N/A $367,500 3.09% $356,500

$321,200 15.96% N/A N/A $367,500 3.09%

CANTON 1 Family Condo All Sales

6 3 10

-53.85% -25.00% -50.00%

13 4 20

6 3 10

-53.85% -25.00% -50.00%

$360,000 $140,500 $311,000

$272,500 -24.31% $360,000 $194,000 38.08% $140,500 $235,000 -24.44% $311,000

$272,500 -24.31% $194,000 38.08% $235,000 -24.44%

EAST GRANBY 1 Family 4

Condo 3

All Sales 8

7 3 12

75.00% 0.00% 50.00%

4 3 8

7 3 12

75.00% 0.00% 50.00%

$272,500 $98,365 $185,150

$225,000 -17.43% $272,500 $230,400 134.23% $98,365 $227,700 22.98% $185,150

$225,000 -17.43% $230,400 134.23% $227,700 22.98%

EAST HARTFORD 1 Family 3 3 Condo 3 2 All Sales 7 7

46 4 61

39.39% -87.50% -20.78%

33 32 77

46 4 61

39.39% -87.50% -20.78%

$128,900 $61,250 $90,200

$151,500 17.53% $128,900 $128,998 110.61% $61,250 $153,000 69.62% $90,200

$151,500 17.53% $128,998 110.61% $153,000 69.62%

EAST WINDSOR 1 Family 9

Condo 3

All Sales 1 9

5 3 11

-44.44% 0.00% -42.11%

9 3 19

5 3 11

-44.44% 0.00% -42.11%

$152,900 $118,000 $152,900

$102,500 -32.96% $152,900 $185,000 56.78% $118,000 $152,500 -0.26% $152,900

$102,500 -32.96% $185,000 56.78% $152,500 -0.26%

ENFIELD 1 Family Condo All Sales

4 0 9

5 8

22 8 32

-45.00% -11.11% -44.83%

40 9 58

22 8 32

-45.00% -11.11% -44.83%

$164,750 $136,000 $167,250

$188,500 $153,000 $172,450

14.42% $164,750 12.50% $136,000 3.11% $167,250

$188,500 14.42% $153,000 12.50% $172,450 3.11%

FARMINGTON 1 Family 1 5 Condo 9

All Sales 2 8

12 14 32

-20.00% 55.56% 14.29%

15 9 28

12 14 32

-20.00% 55.56% 14.29%

$294,000 $153,000 $260,000

$392,500 $163,500 $235,000

33.50% $294,000 6.86% $153,000 -9.62% $260,000

$392,500 33.50% $163,500 6.86% $235,000 -9.62%

GLASTONBURY 1 Family 3 1 Condo 6

All Sales 4 5

10 2 14

-67.74% -66.67% -68.89%

31 6 45

10 2 14

-67.74% -66.67% -68.89%

$270,000 $133,000 $225,000

$406,000 50.37% $270,000 N/A -100.00% $133,000 $391,000 73.78% $225,000

$406,000 50.37% N/A - 100.00% $391,000 73.78%

GRANBY 1 Family Condo All Sales

12 50.00% 0 -100.00% 14 27.27%

8 3 11

12 50.00% 0 -100.00% 14 27.27%

$215,000 $162,500 $209,000

$244,950 13.93% $215,000 N/A -100.00% $162,500 $275,500 31.82% $209,000

$244,950 13.93% N/A - 100.00% $275,500 31.82%

HARTFORD 1 Family 1 6 Condo 1 0 All Sales 6 2

23 12 69

43.75% 20.00% 11.29%

16 10 62

23 12 69

43.75% 20.00% 11.29%

$145,250 $72,500 $121,000

$132,000 -9.12% $145,250 $47,500 -34.48% $72,500 $129,000 6.61% $121,000

$132,000 -9.12% $47,500 -34.48% $129,000 6.61%

HARTLAND 1 Family 4

Condo 0

All Sales 4

2 0 3

-50.00% N/A -25.00%

4 0 4

2 0 3

-50.00% N/A -25.00%

$283,750 N/A $283,750

N/A -100.00% $283,750 N/A N/A N/A $208,000 -26.70% $283,750

N/A - 100.00% N/A N/A $208,000 -26.70%

1 3 4

2 0

8

3

1 1

22 | THE COMMERCIAL RECORD | MARCH 2018

-3.25% -3.63% 5.37%

Real estate & credit transactions updated every Thursday

www.commercialrecord.com • subscribers only

NUMBER OF SALES JAN. 2017

JAN. %CHG 2017 2018 17-18 YTD

2018 YTD

MEDIAN PRICE %CHG 17-18

JAN. 2017

JAN. %CHG 2017 2018 17-18 YTD

2018 %CHG YTD 17-18

$158,000 $63,500 $157,750

$157,000 -0.63% $158,000 $135,750 113.78% $63,500 $151,750 -3.80% $157,750

$157,000 -0.63% $135,750 113.78% $151,750 -3.80%

$310,000 N/A $310,000

$310,000 6.53% N/A N/A $310,000 6.53%

MANCHESTER 1 Family 4 1 Condo 8

All Sales 5 6

39 10 59

-4.88% 25.00% 5.36%

41 8 56

39 10 59

-4.88% 25.00% 5.36%

MARLBOROUGH 1 Family 1 3 Condo 0

All Sales 1 3

5 0 5

-61.54% N/A -61.54%

13 0 13

5 0 5

-61.54% N/A -61.54%

$291,000 N/A $291,000

NEW BRITAIN 1 Family 1 8 Condo 6

All Sales 4 9

28 2 39

55.56% -66.67% -20.41%

18 6 49

28 2 39

55.56% -66.67% -20.41%

$133,500 $139,250 4.31% $133,500 $139,250 4.31% $109,406 -100.00% $109,406 -100.00% $147,340 $133,000 -9.73% $147,340 $133,000 -9.73%

NEWINGTON 1 Family 2 0 Condo 9

All Sales 3 6

12 12 26

-40.00% 33.33% -27.78%

20 9 36

12 12 26

-40.00% 33.33% -27.78%

$204,500 $138,000 $191,500

$215,750 5.50% $204,500 $122,500 -11.23% $138,000 $166,000 -13.32% $191,500

$215,750 5.50% $122,500 -11.23% $166,000 -13.32%

PLAINVILLE 1 Family 1 2 Condo 3

All Sales 2 6

14 7 24

16.67% 133.33% -7.69%

12 3 26

14 7 24

16.67% 133.33% -7.69%

$221,500 $123,000 $227,500

$152,975 -30.94% $221,500 $139,000 13.01% $123,000 $150,975 -33.64% $227,500

$152,975 -30.94% $139,000 13.01% $150,975 -33.64%

ROCKY HILL 1 Family 8

Condo 1 2 All Sales 2 3

9 8 19

12.50% -33.33% -17.39%

8 12 23

9 8 19

12.50% -33.33% -17.39%

$407,450 $109,950 $263,000

$244,900 -39.89% $407,450 $133,950 21.83% $109,950 $225,000 -14.45% $263,000

$244,900 -39.89% $133,950 21.83% $225,000 -14.45%

SIMSBURY 1 Family 2 1 Condo 7

All Sales 2 9

15 5 22

-28.57% -28.57% -24.14%

21 7 29

15 5 22

-28.57% -28.57% -24.14%

$291,000 $150,000 $230,000

$325,000 $155,000 $283,750

11.68% $291,000 3.33% $150,000 23.37% $230,000

$325,000 11.68% $155,000 3.33% $283,750 23.37%

SOUTH WINDSOR 1 Family 7

Condo 5

All Sales 1 7

16 8 28

128.57% 60.00% 64.71%

7 5 17

16 8 28

128.57% 60.00% 64.71%

$269,900 $178,000 $210,000

$226,050 -16.25% $269,900 $242,455 36.21% $178,000 $261,000 24.29% $210,000

$226,050 -16.25% $242,455 36.21% $261,000 24.29%

SOUTHINGTON 1 Family 2 0 Condo 2

All Sales 3 4

32 4 49

60.00% 100.00% 44.12%

20 2 34

32 4 49

60.00% 100.00% 44.12%

$252,450 N/A $199,500

$301,450 $149,056 $270,000

$301,450 19.41% $149,056 N/A $270,000 35.34%

SUFFIELD 1 Family Condo All Sales

8 2 13

300.00% -33.33% 8.33%

2 3 12

8 2 13

300.00% -33.33% 8.33%

N/A $181,000 $162,500

$282,450 N/A N/A $282,450 N/A N/A -100.00% $181,000 -100.00% $259,900 59.94% $162,500 $259,900 59.94%

WEST HARTFORD 1 Family 4 4 Condo 8

All Sales 6 1

32 12 49

-27.27% 50.00% -19.67%

44 8 61

32 12 49

-27.27% 50.00% -19.67%

$289,000 $194,500 $264,000

$264,950 $196,500 $243,000

WETHERSFIELD 1 Family 2 9 Condo 3

All Sales 3 4

26 7 33

-10.34% 133.33% -2.94%

29 3 34

26 7 33

-10.34% 133.33% -2.94%

$240,000 $147,000 $240,000

$205,000 -14.58% $240,000 $138,500 -5.78% $147,000 $181,000 -24.58% $240,000

$205,000 -14.58% $138,500 -5.78% $181,000 -24.58%

WINDSOR 1 Family Condo All Sales

18 2 27

-28.00% 100.00% -6.90%

25 1 29

18 2 27

-28.00% 100.00% -6.90%

$224,000 N/A $224,000

$188,250 -15.96% $224,000 N/A N/A N/A $204,500 -8.71% $224,000

$188,250 -15.96% N/A N/A $204,500 -8.71%

11 3 14

57.14% 0.00% 27.27%

7 3 11

11 3 14

57.14% 0.00% 27.27%

$170,000 $90,000 $165,000

$180,000 $155,000 $174,325

5.88% $170,000 72.22% $90,000 5.65% $165,000

$180,000 5.88% $155,000 72.22% $174,325 5.65%

COUNTY 5 52 508 1 63 153 9 13 814

-7.97% -6.13% -10.84%

552 163 913

508 153 814

-7.97% -6.13% -10.84%

$210,000 $119,900 $187,000

$194,500 $142,500 $183,000

-7.38% $210,000 18.85% $119,900 -2.14% $187,000

$194,500 -7.38% $142,500 18.85% $183,000 -2.14%

2

3

1 2

2 5 1

2 9

WINDSOR LOCKS 1 Family 7

Condo 3

All Sales 1 1 HARTFORD 1 Family Condo All Sales

6.53% $291,000 N/A N/A 6.53% $291,000

19.41% $252,450 N/A N/A 35.34% $199,500

-8.32% $289,000 1.03% $194,500 -7.95% $264,000

$264,950 $196,500 $243,000

-8.32% 1.03% -7.95%

MARCH 2018 | THE COMMERCIAL RECORD | 23

TRENDLINES

LITCHFIELD COUNTY SALES REPORT

NUMBER OF SALES JAN. 2017

JAN. %CHG 2017 2018 17-18 YTD

MEDIAN PRICE

2018 YTD

%CHG 17-18

JAN. 2017

JAN. %CHG 2017 2018 17-18 YTD

2018 %CHG YTD 17-18

BARKHAMSTED 1 Family Condo All Sales

3 0 4

3 0 5

0.00% N/A 25.00%

3 0 4

3 0 5

0.00% N/A 25.00%

$265,000 N/A $217,500

$250,000 -5.66% $265,000 N/A N/A N/A $150,000 -31.03% $217,500

$250,000 -5.66% N/A N/A $150,000 -31.03%

4 0 4

100.00% N/A 100.00%

2 0 2

4 0 4

100.00% N/A 100.00%

N/A N/A N/A

$315,000 N/A $315,000

N/A N/A N/A

N/A N/A N/A

$315,000 N/A $315,000

N/A N/A N/A

2 0 2

1 0 1

-50.00% N/A -50.00%

2 0 2

1 0 1

-50.00% N/A -50.00%

N/A N/A N/A

N/A N/A N/A

N/A N/A N/A

N/A N/A N/A

N/A N/A N/A

N/A N/A N/A

0 0 0

0 0 0

N/A N/A N/A

0 0 0

0 0 0

N/A N/A N/A

N/A N/A N/A

N/A N/A N/A

N/A N/A N/A

N/A N/A N/A

N/A N/A N/A

N/A N/A N/A

1 0 3

0.00% N/A 200.00%

1 0 1

1 0 3

0.00% N/A 200.00%

N/A N/A N/A

N/A N/A $263,000

N/A N/A N/A

N/A N/A N/A

N/A N/A $263,000

N/A N/A N/A

5 0 5

4 0 4

-20.00% N/A -20.00%

5 0 5

4 0 4

-20.00% N/A -20.00%

$220,000 N/A $220,000

$280,000 27.27% $220,000 N/A N/A N/A $280,000 27.27% $220,000

$280,000 27.27% N/A N/A $280,000 27.27%

6 0 7

4 1 6

-33.33% N/A -14.29%

6 0 7

4 1 6

-33.33% N/A -14.29%

$332,500 N/A $345,000

$298,750 -10.15% $332,500 N/A N/A N/A $223,950 -35.09% $345,000

$298,750 -10.15% N/A N/A $223,950 -35.09%

5 0 5

2 0 2

-60.00% N/A -60.00%

5 0 5

2 0 2

-60.00% N/A -60.00%

$249,000 N/A $249,000

N/A -100.00% $249,000 N/A N/A N/A N/A -100.00% $249,000

N/A - 100.00% N/A N/A N/A - 100.00%

1 0 4

3 1 6

200.00% N/A 50.00%

1 0 4

3 1 6

200.00% N/A 50.00%

N/A N/A $258,500

$198,000 N/A N/A N/A N/A N/A $204,000 -21.08% $258,500

$198,000 N/A N/A N/A $204,000 -21.08%

6 2 1 1

3 1 6

-50.00% -50.00% -45.45%

6 2 11

3 1 6

-50.00% -50.00% -45.45%

$229,000 N/A $195,000

$233,750 2.07% $229,000 N/A N/A N/A $262,500 34.62% $195,000

$233,750 2.07% N/A N/A $262,500 34.62%

1 0 1

2 0 3

100.00% N/A 200.00%

1 0 1

2 0 3

100.00% N/A 200.00%

N/A N/A N/A

N/A N/A $150,000

N/A N/A $150,000

5 0 8

0.00% N/A 33.33%

5 0 6

5 0 8

0.00% N/A 33.33%

$237,000 N/A $215,375

$237,500 N/A $232,000

30 2 37

23 7 39

$268,250 N/A $255,000

$290,000 $185,000 $280,500

1 0 2

1 0 1

BETHLEHEM 1 Family Condo All Sales

2 0 2

BRIDGEWATER 1 Family Condo All Sales

CANAAN 1 Family Condo All Sales

COLEBROOK 1 Family Condo All Sales

1 0 1

CORNWALL 1 Family Condo All Sales

GOSHEN 1 Family Condo All Sales

HARWINTON 1 Family Condo All Sales

KENT 1 Family Condo All Sales

LITCHFIELD 1 Family Condo All Sales

MORRIS 1 Family Condo All Sales

N/A N/A N/A

N/A N/A N/A

N/A N/A N/A

NEW HARTFORD 1 Family Condo All Sales

5 0 6

0.21% $237,000 N/A N/A 7.72% $215,375

$237,500 0.21% N/A N/A $232,000 7.72%

NEW MILFORD 1 Family Condo All Sales

3 0 2 3 7

23 7 39

1 0 2

1 0 1

-23.33% 250.00% 5.41%

-23.33% 250.00% 5.41%

8.11% $268,250 N/A N/A 10.00% $255,000

$290,000 $185,000 $280,500

8.11% N/A 10.00%

NORFOLK 1 Family Condo All Sales

0.00% N/A -50.00%

0.00% N/A -50.00%

24 | THE COMMERCIAL RECORD | MARCH 2018

N/A N/A N/A

N/A N/A N/A

N/A N/A N/A

N/A N/A N/A

N/A N/A N/A

N/A N/A N/A

Real estate & credit transactions updated every Thursday

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NUMBER OF SALES JAN. 2017

JAN. %CHG 2017 2018 17-18 YTD

2018 YTD

MEDIAN PRICE %CHG 17-18

JAN. 2017

JAN. %CHG 2017 2018 17-18 YTD

2018 %CHG YTD 17-18

NORTH CANAAN 1 Family

2

1

Condo

0

0

2

1

All Sales

-50.00%

2

1

0

0

-50.00%

2

1

-50.00%

55.56%

9

14

55.56%

0

1

111.11%

9

19

111.11%

$161,000

-100.00%

$800,000

N/A

-50.00% N/A

N/A

N/A

N/A

N/A

N/A

N/A

N/A

N/A

N/A

N/A

N/A N/A

N/A

N/A

N/A

N/A

N/A

N/A

PLYMOUTH 1 Family

9

14

Condo

0

1

9

19

All Sales

N/A

N/A

$161,000 N/A

$175,150 N/A $152,900

8.79% N/A

$161,000 N/A

-5.03%

$161,000

N/A -100.00%

$800,000

$175,150 N/A $152,900

8.79% N/A -5.03%

ROXBURY 1 Family

3

0 -100.00%

3

0

Condo

0

0

0

0

3

1

-66.67%

3

1

-66.67%

$800,000

100.00%

3

6

100.00%

$506,000

0

0

5

6

All Sales

N/A

N/A

N/A

N/A

N/A

N/A -100.00%

N/A

N/A -100.00% N/A

N/A

$800,000

N/A -100.00%

$506,000

$194,000 -61.66%

SALISBURY 1 Family

3

6

Condo

0

0

5

6

1 Family

0

1

0

1

N/A

N/A

N/A

N/A

N/A

N/A

Condo

1

0 -100.00%

1

0

-100.00%

N/A

N/A

N/A

N/A

N/A

N/A

3

50.00%

2

3

50.00%

N/A

N/A

N/A

0.00%

4

4

0.00%

0

0

All Sales

N/A 20.00%

N/A 20.00%

N/A $506,000

$194,000 N/A $194,000

-61.66% N/A -61.66%

N/A $506,000

N/A

N/A

$194,000 -61.66%

SHARON

All Sales

2

N/A

N/A

$645,000

$645,000

N/A

$205,000

69.42%

THOMASTON 1 Family

4

4

Condo

0

0

5

8

60.00%

5

8

All Sales

N/A

N/A

$121,000 N/A

$205,000 N/A

69.42% N/A

$121,000 N/A

N/A

N/A

60.00%

$134,000

$287,500 114.55%

$134,000

$287,500 114.55%

TORRINGTON 1 Family

2 6

22

-15.38%

26

22

-15.38%

$124,450

$146,375

17.62%

$124,450

$146,375

17.62%

Condo

7

6

-14.29%

7

6

-14.29%

$72,000

$66,000

-8.33%

$72,000

$66,000

-8.33%

4 6

34

-26.09%

46

34

-26.09%

$109,500

$113,000

3.20%

$109,500

$113,000

3.20%

-100.00%

$498,609

N/A -100.00%

$498,609

All Sales

WARREN 1 Family

3

0 -100.00%

3

0

Condo

0

0

0

0

3

2

-33.33%

3

2

-33.33%

$498,609

-62.50%

8

3

-62.50%

$1,005,000

0

0

All Sales

N/A

N/A

N/A

N/A

N/A

N/A -100.00%

N/A

N/A -100.00% N/A

N/A

$498,609

N/A -100.00%

-57.01% $1,005,000

$432,000 -57.01%

WASHINGTON 1 Family

8

3

Condo

0

0

9

5

-44.44%

9

5

13

85.71%

7

13

0 -100.00%

1

0

63.64%

11

18

All Sales

N/A

N/A

N/A

$432,000 N/A

N/A

N/A

N/A

N/A

-44.44%

$610,000

$432,000

-29.18%

$610,000

$432,000 -29.18%

85.71%

$161,950

$201,500

24.42%

$161,950

$201,500

WATERTOWN 1 Family

7

Condo

1

All Sales

1 1

18

-100.00%

N/A

63.64%

$161,950

$200,750

23.96%

$161,950

$146,250

$90,750

-37.95%

$146,250

$200,750

24.42% N/A 23.96%

WINCHESTER 1 Family

8

6

-25.00%

8

6

-25.00%

Condo

1

2

100.00%

1

2

100.00%

1 3

11

-15.38%

13

11

-15.38%

$127,500

$83,500

All Sales

N/A

N/A

N/A

N/A

-34.51%

$127,500

$90,750 -37.95% N/A

N/A

$83,500 -34.51%

WOODBURY 1 Family

5

6

20.00%

5

6

20.00%

$270,000

$274,725

1.75%

$270,000

$274,725

1.75%

Condo

5

5

0.00%

5

5

0.00%

$63,335

$125,000

97.36%

$63,335

$125,000

97.36%

1 1

11

0.00%

11

11

0.00%

$130,000

$126,000

-3.08%

$130,000

$126,000

-3.08%

All Sales

LITCHFIELD COUNTY 1 Family

1 46

132

-9.59%

146

132

-9.59%

$217,450

$210,000

-3.43%

$217,450

$210,000

-3.43%

Condo

1 9

24

26.32%

19

24

26.32%

$71,250

$123,500

73.33%

$71,250

$123,500

73.33%

2 06

207

0.49%

206

207

0.49%

$185,000

$187,900

1.57%

$185,000

$187,900

1.57%

All Sales

MARCH 2018 | THE COMMERCIAL RECORD | 25

TRENDLINES

MIDDLESEX COUNTY SALES REPORT

NUMBER OF SALES JAN. 2017

JAN. %CHG 2017 2018 17-18 YTD

2018 YTD

MEDIAN PRICE %CHG 17-18

JAN. 2017

JAN. %CHG 2017 2018 17-18 YTD

2018 %CHG YTD 17-18

CHESTER 1 Family Condo All Sales

2 0 3

8 0 8

300.00% N/A 166.67%

2 0 3

8 0 8

300.00% N/A 166.67%

N/A N/A $268,000

$231,000 N/A N/A N/A N/A N/A $231,000 -13.81% $268,000

$231,000 N/A N/A N/A $231,000 -13.81%

1 5 7 2 6

17 2 24

13.33% -71.43% -7.69%

15 7 26

17 2 24

13.33% -71.43% -7.69%

$257,280 $118,000 $209,650

$234,000 -9.05% N/A -100.00% $241,500 15.19%

$257,280 $118,000 $209,650

$234,000 -9.05% N/A - 100.00% $241,500 15.19%

3 7 12

-50.00% -53.33% -47.83%

6 15 23

3 7 12

-50.00% -53.33% -47.83%

$235,000 $127,000 $150,000

$251,300 $149,000 $232,150

$235,000 $127,000 $150,000

$251,300 $149,000 $232,150

2 2 4

1 1 4

-50.00% -50.00% 0.00%

2 2 4

1 1 4

-50.00% -50.00% 0.00%

N/A N/A $164,000

N/A N/A N/A N/A N/A N/A $209,250 27.59% $164,000

N/A N/A N/A N/A $209,250 27.59%

6 0 7

4 0 6

-33.33% N/A -14.29%

6 0 7

4 0 6

-33.33% N/A -14.29%

$335,500 N/A $304,000

$362,500 8.05% $335,500 N/A N/A N/A $345,000 13.49% $304,000

$362,500 8.05% N/A N/A $345,000 13.49%

11 0.00% 0 -100.00% 16 23.08%

11 1 13

11 0 16

$200,000 N/A $195,000

$219,000 N/A $212,000

$219,000 9.50% N/A N/A $212,000 8.72%

12 5 21

14 0 17

12 5 21

$207,550 N/A $195,100

$237,500 $93,800 $205,000

$283,100 N/A $174,950

$382,500 35.11% $283,100 N/A N/A N/A $382,500 118.63% $174,950

$382,500 35.11% N/A N/A $382,500 118.63%

CLINTON 1 Family Condo All Sales

CROMWELL 1 Family Condo All Sales

6 1 5 2 3

6.94% 17.32% 54.77%

6.94% 17.32% 54.77%

DEEP RIVER 1 Family Condo All Sales

DURHAM 1 Family Condo All Sales

EAST HADDAM 1 Family Condo All Sales

1 1 1 1 3

0.00% -100.00% 23.08%

9.50% $200,000 N/A N/A 8.72% $195,000

EAST HAMPTON 1 Family Condo All Sales

1 4 0 1 7

-14.29% N/A 23.53%

-14.29% N/A 23.53%

14.43% $207,550 N/A N/A 5.07% $195,100

$237,500 $93,800 $205,000

14.43% N/A 5.07%

ESSEX 1 Family Condo All Sales

6 1 1 2

3 -50.00% 0 -100.00% 5 -58.33%

6 1 12

3 0 5

-50.00% -100.00% -58.33%

6 0 1 6

6 0 8

0.00% N/A -50.00%

6 0 16

6 0 8

0.00% N/A -50.00%

$206,000 N/A $204,500

$178,700 -13.25% $206,000 N/A N/A N/A $178,700 -12.62% $204,500

$178,700 -13.25% N/A N/A $178,700 -12.62%

4 0 6

0.00% N/A 20.00%

4 0 5

4 0 6

0.00% N/A 20.00%

$326,750 N/A $308,000

$427,500 30.83% $326,750 N/A N/A N/A $402,500 30.68% $308,000

$427,500 30.83% N/A N/A $402,500 30.68%

2 0 4

-50.00% N/A -42.86%

4 0 7

2 0 4

-50.00% N/A -42.86%

$279,500 N/A $347,000

N/A -100.00% $279,500 N/A N/A N/A $141,500 -59.22% $347,000

N/A - 100.00% N/A N/A $141,500 -59.22%

25 14 46

-3.85% 7.69% -2.13%

26 13 47

25 14 46

-3.85% 7.69% -2.13%

$181,143 $104,000 $145,000

$185,000 $73,375 $125,500

$185,000 2.13% $73,375 -29.45% $125,500 -13.45%

13 -7.14% 0 -100.00% 17 6.25%

14 1 16

13 0 17

-7.14% -100.00% 6.25%

$327,500 N/A $327,500

$324,900 N/A $324,900

-0.79% $327,500 N/A N/A -0.79% $327,500

$324,900 -0.79% N/A N/A $324,900 -0.79%

9 50.00% 0 -100.00% 9 -10.00%

6 2 10

9 0 9

50.00% -100.00% -10.00%

$194,750 N/A $194,750

$226,000 16.05% $194,750 N/A N/A N/A $226,000 16.05% $194,750

$226,000 16.05% N/A N/A $226,000 16.05%

HADDAM 1 Family Condo All Sales

KILLINGWORTH 1 Family Condo All Sales

4 0 5

MIDDLEFIELD 1 Family Condo All Sales

4 0 7

MIDDLETOWN 1 Family Condo All Sales

2 6 1 3 4 7

2.13% -29.45% -13.45%

$181,143 $104,000 $145,000

OLD SAYBROOK 1 Family Condo All Sales

1 4 1 1 6

PORTLAND 1 Family Condo All Sales

6 2 1 0

26 | THE COMMERCIAL RECORD | MARCH 2018

Real estate & credit transactions updated every Thursday

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NUMBER OF SALES JAN. 2017

JAN. %CHG 2017 2018 17-18 YTD

MEDIAN PRICE

2018 YTD

%CHG 17-18

JAN. 2017

JAN. %CHG 2017 2018 17-18 YTD

2018 %CHG YTD 17-18

WESTBROOK 1 Family Condo All Sales

2 0 5

7 3 11

250.00% N/A 120.00%

2 0 5

7 3 11

250.00% N/A 120.00%

N/A N/A $229,519

$365,000 $274,900 $345,000

124 42 211

125 32 197

0.81% -23.81% -6.64%

$232,750 $117,750 $199,000

$249,000 $94,400 $219,000

N/A N/A N/A N/A 50.31% $229,519

$365,000 $274,900 $345,000

N/A N/A 50.31%

MIDDLESEX COUNTY 1 Family Condo All Sales

1 24 4 2 2 11

125 32 197

0.81% -23.81% -6.64%

6.98% -19.83% 10.05%

$232,750 $117,750 $199,000

$249,000 6.98% $94,400 -19.83% $219,000 10.05%

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MARCH 2018 | THE COMMERCIAL RECORD | 27

TRENDLINES

NEW HAVEN COUNTY SALES REPORT

NUMBER OF SALES JAN. 2017

JAN. %CHG 2017 2018 17-18 YTD

MEDIAN PRICE

2018 YTD

%CHG 17-18

JAN. 2017

JAN. %CHG 2017 2018 17-18 YTD

2018 %CHG YTD 17-18

ANSONIA 1 Family Condo All Sales

1 6 0 1 9

7 0 15

-56.25% N/A -21.05%

16 0 19

7 0 15

-56.25% N/A -21.05%

$168,300 N/A $167,000

$162,000 -3.74% $168,300 N/A N/A N/A $185,500 11.08% $167,000

$162,000 -3.74% N/A N/A $185,500 11.08%

0 1 1

5 3 8

N/A 200.00% 700.00%

0 1 1

5 3 8

N/A 200.00% 700.00%

N/A N/A N/A

$175,000 $80,000 $154,500

$175,000 $80,000 $154,500

7 0 7

2 0 2

-71.43% N/A -71.43%

7 0 7

2 0 2

-71.43% N/A -71.43%

$225,000 N/A $225,000

16 18 47

60.00% 28.57% 62.07%

10 14 29

16 18 47

60.00% 28.57% 62.07%

$341,000 $158,750 $195,000

$250,750 $144,000 $225,000

-26.47% -9.29% 15.38%

$341,000 $158,750 $195,000

$250,750 -26.47% $144,000 -9.29% $225,000 15.38%

1 2 9 2 5

20 8 32

66.67% -11.11% 28.00%

12 9 25

20 8 32

66.67% -11.11% 28.00%

$288,500 $162,000 $262,000

$306,950 $136,000 $269,750

6.40% -16.05% 2.96%

$288,500 $162,000 $262,000

$306,950 6.40% $136,000 -16.05% $269,750 2.96%

4 6 1 1

7 4 17

75.00% -33.33% 54.55%

4 6 11

7 4 17

75.00% -33.33% 54.55%

$154,000 $115,250 $124,000

$108,000 $117,250 $108,000

-29.87% 1.74% -12.90%

$154,000 $115,250 $124,000

$108,000 -29.87% $117,250 1.74% $108,000 -12.90%

21 13 38

5.00% 85.71% 15.15%

20 7 33

21 13 38

5.00% 85.71% 15.15%

$149,250 $213,000 $156,000

$184,900 $120,000 $185,000

23.89% -43.66% 18.59%

$149,250 $213,000 $156,000

$184,900 23.89% $120,000 -43.66% $185,000 18.59%

1 5 3 2 2

14 1 17

-6.67% -66.67% -22.73%

15 3 22

14 1 17

-6.67% -66.67% -22.73%

$395,000 $142,000 $382,000

$401,000 1.52% N/A -100.00% $415,000 8.64%

$395,000 $142,000 $382,000

$401,000 1.52% N/A - 100.00% $415,000 8.64%

2 8 1 0 4 4

45 7 63

60.71% -30.00% 43.18%

28 10 44

45 7 63

60.71% -30.00% 43.18%

$212,000 $85,250 $177,650

$197,500 $77,500 $190,000

$212,000 $85,250 $177,650

$197,500 $77,500 $190,000

1 5 2 1 9

15 7 22

0.00% 250.00% 15.79%

15 2 19

15 7 22

0.00% $400,000 250.00% 15.79% $400,000

$461,000 $50,000 $320,000

3 7 8 6 0

49 12 74

32.43% 50.00% 23.33%

37 8 60

49 12 74

32.43% 50.00% 23.33%

9 2 1 4

10 11.11% 0 -100.00% 12 -14.29%

9 2 14

10 0 12

11.11% -100.00% -14.29%

4 0 1 4 6 2

56 7 73

40.00% -50.00% 17.74%

40 14 62

56 7 73

26 3 42

0.00% 200.00% 31.25%

26 1 32

26 3 42

BEACON FALLS 1 Family Condo All Sales

N/A N/A N/A

N/A N/A N/A

N/A N/A N/A

BETHANY 1 Family Condo All Sales

N/A -100.00% $225,000 N/A N/A N/A N/A -100.00% $225,000

N/A - 100.00% N/A N/A N/A - 100.00%

BRANFORD 1 Family Condo All Sales

1 0 1 4 2 9

CHESHIRE 1 Family Condo All Sales

DERBY 1 Family Condo All Sales

EAST HAVEN 1 Family Condo All Sales

2 0 7 3 3

GUILFORD 1 Family Condo All Sales

HAMDEN 1 Family Condo All Sales

-6.84% -9.09% 6.95%

-6.84% -9.09% 6.95%

MADISON 1 Family Condo All Sales

15.25% $400,000 N/A -20.00% $400,000

$461,000 15.25% $50,000 N/A $320,000 -20.00%

MERIDEN 1 Family Condo All Sales

$129,000 $59,250 $115,750

$155,000 $81,250 $144,300

20.16% 37.13% 24.67%

$129,000 $59,250 $115,750

$155,000 $81,250 $144,300

20.16% 37.13% 24.67%

$290,000 N/A $338,573

$285,000 N/A $347,500

-1.72% $290,000 N/A N/A 2.64% $338,573

$285,000 -1.72% N/A N/A $347,500 2.64%

40.00% -50.00% 17.74%

$277,500 $162,000 $249,500

$301,500 $150,000 $299,500

8.65% -7.41% 20.04%

$301,500 $150,000 $299,500

8.65% -7.41% 20.04%

0.00% 200.00% 31.25%

$159,950 N/A $142,000

$171,000 $80,000 $154,200

$171,000 $80,000 $154,200

6.91% N/A 8.59%

MIDDLEBURY 1 Family Condo All Sales

MILFORD 1 Family Condo All Sales

$277,500 $162,000 $249,500

NAUGATUCK 1 Family Condo All Sales

2 6 1 3 2

28 | THE COMMERCIAL RECORD | MARCH 2018

6.91% $159,950 N/A N/A 8.59% $142,000

Real estate & credit transactions updated every Thursday

www.commercialrecord.com • subscribers only

NUMBER OF SALES JAN. 2017

JAN. %CHG 2017 2018 17-18 YTD

2018 YTD

MEDIAN PRICE %CHG 17-18

JAN. 2017

JAN. %CHG 2017 2018 17-18 YTD

2018 %CHG YTD 17-18

NEW HAVEN 1 Family Condo All Sales

2 5 1 3 7 4

19 13 67

-24.00% 0.00% -9.46%

25 13 74

19 13 67

-24.00% 0.00% -9.46%

$132,000 $140,000 $140,000

$130,000 $110,000 $145,000

-1.52% -21.43% 3.57%

$132,000 $140,000 $140,000

$130,000 -1.52% $110,000 -21.43% $145,000 3.57%

8 1 10

-20.00% -50.00% -16.67%

10 2 12

8 1 10

-20.00% -50.00% -16.67%

$247,450 N/A $232,450

$281,750 13.86% $247,450 N/A N/A N/A $262,500 12.93% $232,450

$281,750 13.86% N/A N/A $262,500 12.93%

1 4 3 2 4

14 2 24

0.00% -33.33% 0.00%

14 3 24

14 2 24

0.00% -33.33% 0.00%

$236,722 $369,000 $306,779

$275,000 16.17% N/A -100.00% $280,500 -8.57%

$275,000 16.17% N/A - 100.00% $280,500 -8.57%

1 0 1 1 1

12 1 15

20.00% 0.00% 36.36%

10 1 11

12 1 15

20.00% 0.00% 36.36%

$305,000 N/A $300,000

$350,000 14.75% $305,000 N/A N/A N/A $350,000 16.67% $300,000

1 0 1 1 4

7 -30.00% 0 -100.00% 10 -28.57%

10 1 14

7 0 10

9 3 13

200.00% -40.00% 8.33%

3 5 12

9 3 13

200.00% -40.00% 8.33%

$128,000 $299,500 $235,563

$275,000 114.84% $370,000 23.54% $289,000 22.68%

$128,000 $299,500 $235,563

$275,000 114.84% $370,000 23.54% $289,000 22.68%

11 1 16

-21.43% -75.00% -33.33%

14 4 24

11 1 16

-21.43% -75.00% -33.33%

$225,500 $142,500 $206,750

$240,000 6.43% N/A -100.00% $200,500 -3.02%

$225,500 $142,500 $206,750

$240,000 6.43% N/A - 100.00% $200,500 -3.02%

15 11 29

36.36% -52.17% -19.44%

11 23 36

15 11 29

36.36% -52.17% -19.44%

$275,000 $163,750 $177,000

$345,000 $122,000 $265,000

25.45% -25.50% 49.72%

$275,000 $163,750 $177,000

$345,000 25.45% $122,000 -25.50% $265,000 49.72%

25 7 42

-3.85% -22.22% 2.44%

26 9 41

25 7 42

-3.85% -22.22% 2.44%

$240,000 $200,000 $230,000

$217,500 $164,000 $210,250

-9.38% -18.00% -8.59%

$240,000 $200,000 $230,000

$217,500 -9.38% $164,000 -18.00% $210,250 -8.59%

36 16 81

-14.29% 14.29% 9.46%

42 14 74

36 16 81

-14.29% 14.29% 9.46%

$107,450 $43,375 $81,883

$101,520 $39,626 $80,000

-5.52% -8.64% -2.30%

$107,450 $43,375 $81,883

$101,520 $39,626 $80,000

32 8 47

-23.81% 14.29% -21.67%

42 7 60

32 8 47

-23.81% 14.29% -21.67%

$174,950 $62,000 $172,450

$144,500 $106,500 $143,000

-17.40% 71.77% -17.08%

$174,950 $62,000 $172,450

$144,500 -17.40% $106,500 71.77% $143,000 -17.08%

12 0 13

140.00% N/A 8.33%

5 0 12

12 0 13

140.00% N/A 8.33%

$270,000 N/A $282,500

$169,800 -37.11% $270,000 N/A N/A N/A $180,000 -36.28% $282,500

$169,800 -37.11% N/A N/A $180,000 -36.28%

4 0 5

0.00% N/A 25.00%

4 0 4

4 0 5

0.00% N/A 25.00%

$477,500 N/A $477,500

$422,375 -11.54% $477,500 N/A N/A N/A $394,750 -17.33% $477,500

$422,375 -11.54% N/A N/A $394,750 -17.33%

455 159 776

497 146 834

9.23% -8.18% 7.47%

$200,000 $140,000 $183,000

$212,000 $114,000 $184,900

$212,000 6.00% $114,000 -18.57% $184,900 1.04%

NORTH BRANFORD 1 Family Condo All Sales

1 0 2 1 2

NORTH HAVEN 1 Family Condo All Sales

$236,722 $369,000 $306,779

ORANGE 1 Family Condo All Sales

$350,000 14.75% N/A N/A $350,000 16.67%

OXFORD 1 Family Condo All Sales

-30.00% $220,450 $271,000 -100.00% -28.57% $250,000 $273,000

22.93% $220,450 $271,000 N/A 9.20% $250,000 $273,000

22.93% N/A 9.20%

PROSPECT 1 Family Condo All Sales

3 5 1 2

SEYMOUR 1 Family Condo All Sales

1 4 4 2 4

SOUTHBURY 1 Family Condo All Sales

1 1 2 3 3 6

WALLINGFORD 1 Family Condo All Sales

2 6 9 4 1

WATERBURY 1 Family Condo All Sales

4 2 1 4 7 4

-5.52% -8.64% -2.30%

WEST HAVEN 1 Family Condo All Sales

4 2 7 6 0

WOLCOTT 1 Family Condo All Sales

5 0 1 2

WOODBRIDGE 1 Family Condo All Sales

4 0 4

NEW HAVEN COUNTY 1 Family Condo All Sales

4 55 1 59 7 76

497 146 834

9.23% -8.18% 7.47%

6.00% -18.57% 1.04%

$200,000 $140,000 $183,000

MARCH 2018 | THE COMMERCIAL RECORD | 29

TRENDLINES

NEW LONDON COUNTY SALES REPORT

NUMBER OF SALES JAN. 2017

JAN. %CHG 2017 2018 17-18 YTD

MEDIAN PRICE

2018 YTD

%CHG 17-18

JAN. 2017

JAN. %CHG 2017 2018 17-18 YTD

2018 %CHG YTD 17-18

BOZRAH 1 Family Condo All Sales

1 0 2

2 0 2

100.00% N/A 0.00%

1 0 2

2 0 2

100.00% N/A 0.00%

N/A N/A N/A

N/A N/A N/A

N/A N/A N/A

6 1 10

-66.67% N/A -47.37%

18 0 19

6 1 10

-66.67% N/A -47.37%

$208,000 N/A $217,000

$213,000 N/A $207,000

10 5 20

11 0 14

$252,500 $172,000 $235,200

$255,000 0.99% N/A -100.00% $249,000 5.87%

4 0 4

1 0 1

3 1 11

4 0 8

33.33% -100.00% -27.27%

26 3 41

15 5 26

N/A N/A N/A

N/A N/A N/A

N/A N/A N/A

COLCHESTER 1 Family Condo All Sales

1 8 0 1 9

2.40% $208,000 N/A N/A -4.61% $217,000

$213,000 2.40% N/A N/A $207,000 -4.61%

EAST LYME 1 Family Condo All Sales

1 0 5 2 0

11 10.00% 0 -100.00% 14 -30.00%

10.00% -100.00% -30.00%

$252,500 $172,000 $235,200

$255,000 0.99% N/A -100.00% $249,000 5.87%

FRANKLIN 1 Family Condo All Sales

4 0 4

1 0 1

-75.00% N/A -75.00%

-75.00% N/A -75.00%

$180,500 N/A $180,500

N/A -100.00% $180,500 N/A N/A N/A N/A -100.00% $180,500

N/A -100.00% N/A N/A N/A -100.00%

$125,000 N/A $79,000

$223,000 78.40% $125,000 N/A N/A N/A $185,768 135.15% $79,000

$223,000 78.40% N/A N/A $185,768 135.15%

-42.31% 66.67% -36.59%

$227,500 $117,000 $220,000

$205,000 $164,000 $196,500

$205,000 -9.89% $164,000 40.17% $196,500 -10.68%

GRISWOLD 1 Family Condo All Sales

3 1 1 1

4 33.33% 0 -100.00% 8 -27.27%

GROTON 1 Family Condo All Sales

2 6 3 4 1

15 5 26

-42.31% 66.67% -36.59%

-9.89% 40.17% -10.68%

$227,500 $117,000 $220,000

7 0 7

3 0 5

-57.14% N/A -28.57%

7 0 7

3 0 5

-57.14% N/A -28.57%

$200,000 N/A $200,000

$115,000 -42.50% $200,000 N/A N/A N/A $136,000 -32.00% $200,000

$115,000 -42.50% N/A N/A $136,000 -32.00%

1 4 0 1 7

6 2 11

-57.14% N/A -35.29%

14 0 17

6 2 11

-57.14% N/A -35.29%

$221,750 N/A $224,000

$250,500 12.97% $221,750 N/A N/A N/A $246,000 9.82% $224,000

$250,500 12.97% N/A N/A $246,000 9.82%

4 0 5

1 0 1

-75.00% N/A -80.00%

4 0 5

1 0 1

-75.00% N/A -80.00%

$237,500 N/A $220,000

N/A -100.00% $237,500 N/A N/A N/A N/A -100.00% $220,000

N/A -100.00% N/A N/A N/A -100.00%

0 0 3

2 0 4

N/A N/A 33.33%

0 0 3

2 0 4

N/A N/A 33.33%

N/A N/A $65,000

11 0 12

-8.33% N/A -20.00%

12 0 15

11 0 12

-8.33% N/A -20.00%

4 4 20

-69.23% N/A -13.04%

13 0 23

4 4 20

25.00% N/A 0.00%

4 0 6

5 0 6

12 1 24

19 4 33

LEBANON 1 Family Condo All Sales

LEDYARD 1 Family Condo All Sales

LISBON 1 Family Condo All Sales

LYME 1 Family Condo All Sales

N/A N/A N/A N/A $353,250 443.46%

N/A N/A $65,000

N/A N/A N/A N/A $353,250 443.46%

$154,358 N/A $144,000

$173,000 12.08% $154,358 N/A N/A N/A $173,500 20.49% $144,000

$173,000 12.08% N/A N/A $173,500 20.49%

-69.23% N/A -13.04%

$173,000 N/A $144,900

$112,250 $82,450 $114,500

$112,250 -35.12% $82,450 N/A $114,500 -20.98%

25.00% N/A 0.00%

$317,500 N/A $222,500

$249,000 -21.57% $317,500 N/A N/A N/A $256,950 15.48% $222,500

$249,000 -21.57% N/A N/A $256,950 15.48%

$136,000 N/A $90,500

$115,000 $135,000 $120,000

$115,000 -15.44% $135,000 N/A $120,000 32.60%

MONTVILLE 1 Family Condo All Sales

1 2 0 1 5

NEW LONDON 1 Family Condo All Sales

1 3 0 2 3

-35.12% $173,000 N/A N/A -20.98% $144,900

NORTH STONINGTON 1 Family Condo All Sales

4 0 6

5 0 6

1 2 1 2 4

19 4 33

NORWICH 1 Family Condo All Sales

58.33% 300.00% 37.50%

58.33% 300.00% 37.50%

30 | THE COMMERCIAL RECORD | MARCH 2018

-15.44% $136,000 N/A N/A 32.60% $90,500

Real estate & credit transactions updated every Thursday

www.commercialrecord.com • subscribers only

NUMBER OF SALES JAN. 2017

JAN. %CHG 2017 2018 17-18 YTD

2018 YTD

MEDIAN PRICE %CHG 17-18

JAN. 2017

JAN. %CHG 2017 2018 17-18 YTD

-16.67%

$350,000

2018 %CHG YTD 17-18

OLD LYME 1 Family

6

5

Condo

0

0

7

8

1 Family

4

3

Condo

0

0

7

5

1 Family

2

5

Condo

0

0

4

7

1 Family

3

1

Condo

0

0

4

1

11

All Sales

-16.67%

6

5

0

0

14.29%

7

8

14.29%

$350,000

$290,750

-16.93%

$350,000

$290,750 -16.93%

-25.00%

4

3

-25.00%

$185,950

$164,900

-11.32%

$185,950

$164,900 -11.32%

0

0

-28.57%

7

5

-28.57%

150.00%

2

5

150.00%

0

0

75.00%

4

7

75.00%

$158,750

-66.67%

3

1

-66.67%

$70,000

0

0

-75.00%

4

1

-8.33%

12

0 -100.00%

1

N/A

N/A

N/A

$305,200 N/A

-12.80% N/A

$350,000 N/A

$305,200 -12.80% N/A

N/A

PRESTON

All Sales

N/A

N/A

N/A $202,000

N/A $110,000

N/A -45.54%

N/A $202,000

N/A

N/A

$110,000 -45.54%

SALEM

All Sales

N/A

N/A

N/A N/A

$261,000 N/A $261,000

N/A

N/A

N/A

N/A

64.41%

$158,750

N/A -100.00%

$70,000

$261,000 N/A $261,000

N/A N/A 64.41%

SPRAGUE

All Sales

N/A

N/A

N/A

-75.00%

$140,000

11

-8.33%

$275,448

0

-100.00%

N/A

N/A

N/A

N/A -100.00% $140,000

N/A -100.00% N/A

N/A

N/A -100.00%

STONINGTON 1 Family

1 2

Condo

1

All Sales

1 5

22

46.67%

15

22

46.67%

100.00%

2

4

100.00%

0

0

N/A $245,395

$300,000 N/A $296,000

8.91% N/A 20.62%

$275,448 N/A $245,395

$300,000 N/A $296,000

8.91% N/A 20.62%

VOLUNTOWN 1 Family

2

4

Condo

0

0

2

5

150.00%

2

5

150.00%

-65.22%

23

8

-65.22%

0

3

25

14

-44.00%

$235,000

$198,750

All Sales

N/A

N/A

N/A N/A N/A

$255,650 N/A $250,000

N/A

N/A

N/A

N/A

N/A

N/A

$255,650 N/A

N/A N/A

$250,000

N/A

$277,000

17.87%

$138,750

N/A

WATERFORD 1 Family

2 3

8

Condo

0

3

2 5

14

All Sales

N/A -44.00%

N/A

$235,000 N/A

$277,000 $138,750

17.87% N/A

$235,000 N/A

-15.43%

$235,000

$198,750 -15.43%

NEW LONDON COUNTY 1 Family

1 80

127

-29.44%

180

127

-29.44%

$212,000

$221,500

4.48%

$212,000

$221,500

Condo

1 1

19

72.73%

11

19

72.73%

$156,000

$134,500

-13.78%

$156,000

$134,500 -13.78%

2 61

215

-17.62%

261

215

-17.62%

$192,000

$195,000

1.56%

$192,000

$195,000

All Sales

4.48% 1.56%

LOOKING FOR MORE? Our online real estate records offer a much deeper look into your markets and neighborhoods. Every Thursday, CommercialRecord.com is updated with the most recent sales, foreclosure, mortgage, and credit information available from The Warren Group. Our weekly digital records are available in a convenient, searchable PDF format through 2009. Each PDF is organized by county, town, and street to make it easy to find the exact data you need to make informed business decisions. As a bonus, all subscribers to The Commercial Record get access to similar weekly data from Rhode Island. Just navigate to commercialrecord.com, log in, click on Rhode Island Records under the Real Estate Transactions tab, and get busy putting The Commercial Record to work for you.

MARCH MARCH 2018 2018 || THE COMMERCIAL RECORD | 31

TRENDLINES

TOLLAND COUNTY SALES REPORT

NUMBER OF SALES JAN. 2017

JAN. %CHG 2017 2018 17-18 YTD

MEDIAN PRICE

2018 YTD

%CHG 17-18

JAN. 2017

JAN. %CHG 2017 2018 17-18 YTD

2018 %CHG YTD 17-18

ANDOVER 1 Family Condo All Sales

0 0 0

3 0 3

N/A N/A N/A

0 0 0

3 0 3

N/A N/A N/A

N/A N/A N/A

$368,000 N/A $368,000

N/A N/A N/A

N/A N/A N/A

$368,000 N/A $368,000

N/A N/A N/A

4 0 6

4 0 6

0.00% N/A 0.00%

4 0 6

4 0 6

0.00% N/A 0.00%

$239,950 N/A $239,950

$245,950 N/A $245,950

2.50% $239,950 N/A N/A 2.50% $239,950

$245,950 2.50% N/A N/A $245,950 2.50%

4 0 6

-42.86% N/A -33.33%

7 0 9

4 0 6

-42.86% N/A -33.33%

$200,000 N/A $200,000

$197,950 -1.03% $200,000 N/A N/A N/A $233,000 16.50% $200,000

$197,950 -1.03% N/A N/A $233,000 16.50%

14 1 16

9 0 10

-35.71% -100.00% -37.50%

$162,450 N/A $157,950

$205,000 26.19% $162,450 N/A N/A N/A $219,500 38.97% $157,950

$205,000 26.19% N/A N/A $219,500 38.97%

-85.71% 400.00% 0.00%

7 1 9

1 5 9

-85.71% 400.00% 0.00%

$317,500 N/A $186,000

N/A -100.00% $317,500 $96,000 N/A N/A $262,000 40.86% $186,000

N/A - 100.00% $96,000 N/A $262,000 40.86%

9 -10.00% 0 -100.00% 10 -33.33%

10 2 15

9 0 10

-10.00% -100.00% -33.33%

$232,400 N/A $239,900

$300,000 29.09% $232,400 N/A N/A N/A $277,500 15.67% $239,900

$300,000 29.09% N/A N/A $277,500 15.67%

1 1 7 1 9

4 3 11

11 7 19

4 3 11

-63.64% -57.14% -42.11%

$190,000 $229,500 $205,000

$244,300 $125,000 $135,000

$244,300 28.58% $125,000 -45.53% $135,000 -34.15%

7 0 8

5 0 9

7 0 8

5 0 9

-28.57% N/A 12.50%

$257,000 N/A $220,000

$279,900 8.91% $257,000 N/A N/A N/A $260,000 18.18% $220,000

$279,900 8.91% N/A N/A $260,000 18.18%

BOLTON 1 Family Condo All Sales

COLUMBIA 1 Family Condo All Sales

7 0 9

COVENTRY 1 Family Condo All Sales

1 4 1 1 6

9 -35.71% 0 -100.00% 10 -37.50%

ELLINGTON 1 Family Condo All Sales

7 1 9

1 5 9

HEBRON 1 Family Condo All Sales

1 0 2 1 5

MANSFIELD 1 Family Condo All Sales

-63.64% -57.14% -42.11%

28.58% -45.53% -34.15%

$190,000 $229,500 $205,000

SOMERS 1 Family Condo All Sales

-28.57% N/A 12.50%

STAFFORD 1 Family Condo All Sales

4 1 1 0

7 75.00% 0 -100.00% 10 0.00%

4 1 10

7 0 10

75.00% -100.00% 0.00%

$90,000 N/A $105,175

$273,000 203.33% $90,000 N/A N/A N/A $236,450 124.82% $105,175

$273,000 203.33% N/A N/A $236,450 124.82%

1 2 1 1 4

10 1 13

-16.67% 0.00% -7.14%

12 1 14

10 1 13

-16.67% 0.00% -7.14%

$220,838 N/A $220,838

$248,700 12.62% $220,838 N/A N/A N/A $267,500 21.13% $220,838

$248,700 12.62% N/A N/A $267,500 21.13%

1 0 1

2 1 3

100.00% N/A 200.00%

1 0 1

2 1 3

100.00% N/A 200.00%

2 1 4 3 4

15 6 24

-28.57% 50.00% -29.41%

21 4 34

15 6 24

-28.57% 50.00% -29.41%

$180,000 $185,000 $172,450

3 0 3

2 0 2

-33.33% N/A -33.33%

$129,400 N/A $129,400

101 17 144

75 16 116

-25.74% -5.88% -19.44%

$186,000 $175,000 $180,000

TOLLAND 1 Family Condo All Sales

UNION 1 Family Condo All Sales

N/A N/A N/A

N/A N/A $70,000

N/A N/A N/A

N/A N/A N/A

N/A N/A $70,000

N/A N/A N/A

VERNON 1 Family Condo All Sales

$195,000 $73,500 $151,000

8.33% -60.27% -12.44%

$180,000 $185,000 $172,450

$195,000 8.33% $73,500 -60.27% $151,000 -12.44%

WILLINGTON 1 Family Condo All Sales

3 0 3

2 0 2

-33.33% N/A -33.33%

N/A -100.00% $129,400 N/A N/A N/A N/A -100.00% $129,400

N/A - 100.00% N/A N/A N/A - 100.00%

TOLLAND COUNTY 1 Family Condo All Sales

1 01 1 7 1 44

75 16 116

-25.74% -5.88% -19.44%

32 | THE COMMERCIAL RECORD | MARCH 2018

$231,800 $110,450 $220,500

24.62% -36.89% 22.50%

$186,000 $175,000 $180,000

$231,800 24.62% $110,450 -36.89% $220,500 22.50%

TRENDLINES

WINDHAM COUNTY SALES REPORT

NUMBER OF SALES JAN. 2017

JAN. %CHG 2017 2018 17-18 YTD

MEDIAN PRICE

2018 YTD

%CHG 17-18

JAN. 2017

JAN. %CHG 2017 2018 17-18 YTD

2018 %CHG YTD 17-18

ASHFORD 1 Family Condo All Sales

2 0 2

5 0 6

150.00% N/A 200.00%

2 0 2

5 0 6

150.00% N/A 200.00%

N/A N/A N/A

$148,815 N/A $159,408

N/A N/A N/A

N/A N/A N/A

$148,815 N/A $159,408

N/A N/A N/A

6 1 11

-25.00% N/A -8.33%

8 0 12

6 1 11

-25.00% N/A -8.33%

$179,250 N/A $179,250

$149,550 -16.57% $179,250 N/A N/A N/A $160,000 -10.74% $179,250

$149,550 -16.57% N/A N/A $160,000 -10.74%

1 0 0 1 1

5 0 9

-50.00% N/A -18.18%

10 0 11

5 0 9

-50.00% N/A -18.18%

$197,250 N/A $188,500

$190,000 N/A $190,000

-3.68% $197,250 N/A N/A 0.80% $188,500

$190,000 -3.68% N/A N/A $190,000 0.80%

5 0 6

2 1 3

-60.00% N/A -50.00%

5 0 6

2 1 3

-60.00% N/A -50.00%

$122,000 N/A $153,450

N/A -100.00% $122,000 N/A N/A N/A $165,000 7.53% $153,450

N/A - 100.00% N/A N/A $165,000 7.53%

0 0 1

N/A N/A -50.00%

0 0 2

0 0 1

N/A N/A -50.00%

N/A N/A N/A

N/A N/A N/A

N/A N/A N/A

N/A N/A N/A

N/A N/A N/A

N/A N/A N/A

1 0 1

N/A N/A N/A

0 0 0

1 0 1

N/A N/A N/A

N/A N/A N/A

N/A N/A N/A

N/A N/A N/A

N/A N/A N/A

N/A N/A N/A

N/A N/A N/A

BROOKLYN 1 Family Condo All Sales

8 0 1 2

CANTERBURY 1 Family Condo All Sales

CHAPLIN 1 Family Condo All Sales

EASTFORD 1 Family Condo All Sales

0 0 2

HAMPTON 1 Family Condo All Sales

0 0 0

KILLINGLY 1 Family Condo All Sales

1 9 3 2 9

11 1 14

-42.11% -66.67% -51.72%

19 3 29

11 1 14

-42.11% -66.67% -51.72%

$120,000 $85,000 $120,000

$183,000 52.50% N/A -100.00% $186,500 55.42%

$120,000 $85,000 $120,000

$183,000 52.50% N/A - 100.00% $186,500 55.42%

1 1 0 2 1

10 1 15

-9.09% N/A -28.57%

11 0 21

10 1 15

-9.09% N/A -28.57%

$187,000 N/A $170,000

$160,290 -14.28% $187,000 N/A N/A N/A $157,580 -7.31% $170,000

$160,290 -14.28% N/A N/A $157,580 -7.31%

2 0 3

3 0 6

50.00% N/A 100.00%

2 0 3

3 0 6

50.00% N/A 100.00%

N/A N/A $246,000

$295,000 N/A $230,000

N/A N/A N/A N/A -6.50% $246,000

$295,000 N/A N/A N/A $230,000 -6.50%

1 1 2 1 9

7 3 17

-36.36% 50.00% -10.53%

11 2 19

7 3 17

-36.36% 50.00% -10.53%

$115,000 N/A $125,000

$200,000 $85,000 $190,000

73.91% $115,000 N/A N/A 52.00% $125,000

$200,000 $85,000 $190,000

1 0 1

0 0 0

-100.00% N/A -100.00%

N/A N/A N/A

N/A N/A N/A

PLAINFIELD 1 Family Condo All Sales

POMFRET 1 Family Condo All Sales

PUTNAM 1 Family Condo All Sales

73.91% N/A 52.00%

SCOTLAND 1 Family Condo All Sales

1 0 1

0 -100.00% 0 N/A 0 -100.00%

N/A N/A N/A

N/A N/A N/A

N/A N/A N/A

N/A N/A N/A

STERLING 1 Family Condo All Sales

2 0 3

6 0 10

200.00% N/A 233.33%

2 0 3

6 0 10

200.00% N/A 233.33%

N/A N/A $153,000

$255,750 N/A $165,502

N/A N/A N/A N/A 8.17% $153,000

$255,750 N/A N/A N/A $165,502 8.17%

9 0 1 1

8 0 12

-11.11% N/A 9.09%

9 0 11

8 0 12

-11.11% N/A 9.09%

$205,000 N/A $170,000

$189,125 N/A $167,875

-7.74% $205,000 N/A N/A -1.25% $170,000

$189,125 -7.74% N/A N/A $167,875 -1.25%

9 1 1 6

11 22.22% 0 -100.00% 14 -12.50%

9 1 16

11 0 14

$100,000 N/A $99,500

$136,000 36.00% $100,000 N/A N/A N/A $123,750 24.37% $99,500

$136,000 36.00% N/A N/A $123,750 24.37%

5 3 10

10 0 13

5 3 10

-50.00% N/A -23.08%

$240,500 N/A $255,000

$330,000 $142,500 $211,950

$330,000 37.21% $142,500 N/A $211,950 -16.88%

99 6 149

80 10 129

-19.19% 66.67% -13.42%

$170,000 $112,500 $155,000

$176,500 $102,450 $170,000

THOMPSON 1 Family Condo All Sales

WINDHAM 1 Family Condo All Sales

22.22% -100.00% -12.50%

WOODSTOCK 1 Family Condo All Sales

1 0 0 1 3

-50.00% N/A -23.08%

37.21% $240,500 N/A N/A -16.88% $255,000

WINDHAM COUNTY 1 Family Condo All Sales

9 9 6 1 49

80 10 129

-19.19% 66.67% -13.42%

3.82% -8.93% 9.68%

$170,000 $112,500 $155,000

$176,500 $102,450 $170,000

3.82% -8.93% 9.68%

MARCH 2018 | THE COMMERCIAL RECORD | 33

FAIRFIELD COUNTY GOSSIP REPORT

1

Greenwich

2

Westport

3

Greenwich

Address: 26 Beachside Ave., Westport Price: $10,000,000 Size: 10,776 square feet on 2.38 acres Buyer: Andrew Bentley Seller: Harvey Weinstein Sold: 2/2/18 Address: 11 Skyridge Road, Greenwich Price: $11,089,275 Size: 11,229 square feet on 4.99 acres Buyer: Bailey Skyridge LLC Seller: Andrea Fraleigh Sold: 1/18/18 Agent: David Ogilvy and Assoc.

4

Greenwich

Address: 440 Round Hill Road, Greenwich Price: $6,000,000 Size 16,460 square feet on 6.31 acres Buyer: Lorraine Slavin Seller: 440 RH LLC Sold: 1/31/18

5

Address: 38 Parsonage Road, Greenwich Price: $6,815,000 Size: 9,703 square feet on 3.85 acres Buyer: Tiber USA LLC Seller: Lorraine Slavin Agent: Elizabeth Douthit, Halstead Property Sold: 1/23/18

4 3 1

Westport

Address: 28 Beachside Ave., Westport Price: $6,000,000 Size: 1,803 square feet on 3.33 acres Buyer: Andrew Bentley Seller: Harvey Weinstein Sold: 2/2/18

2 5

Former film producer Harvey Weinstein, who has been accused of sexual assault and harassment by more than 60 women, sold the last of his properties in Westport last month for a total of $16 million. The waterfront properties, which once hosted fundraisers for Hillary Clinton and Barack Obama, were purchased by a Beachside Avenue commodities trader who, town records show, now owns six properties on that street. Weinstein sold another Westport property the fall of last year. The Weinstein Co. recently announced it would file for bankruptcy.

34 | THE COMMERCIAL RECORD | MARCH 2018

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