SEPTEMBER 2016
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REAL ESTATE & FINANCIAL NEWS FOR CONNECTICUT
THE
MONEY ISSUE The Commercial Record’s Fast 50 Are Burning Up The Charts Investing In Their Future: Women Outlive Men And Learn To Save Accordingly
Plummeting Home Prices Drag State Economy Institutional Investors Make Moves In Hartford As UConn Grows Its Presence
SEPTEMBER 2016 | THE COMMERCIAL RECORD | 1
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inside The Commercial Record’s Money Issue This month’s issue of The Commercial Record is all about that which makes the world go around – money. Major investments in Hartford, the sustained drag of low home prices, the repercussions of a prolonged low interest rate environment – that cold hard cash makes a big difference in the economic success of the region. This issue also features the results of this year’s Fast 50 – the top 50 fastest-growing lenders in the first half of the year.
6
6
Talking Money Matters As women gain in earning power – and outlive their male peers – investment in and planning for retirement becomes increasingly important.
10 Soaring Sales The trend of sales up, prices down continues across the state, and the economic fallout is just beginning.
14 Top Dollar
14
Several big-ticket commercial sales have already taken place in Hartford in the first six months of 2016, and the rest of the year could yield a few surprises.
8
state statistics
12 c-changes
Special Section 17 Fast 50
13 in person
Despite an ultra-prolonged low-rate environment, the Nutmeg State’s lenders are leading the charge. Sourced from public records and compiled by The Warren Group, here are the 50 fastest growing real estate lenders in the first half of the year.
16 news roundup 22 top commercial transactions
10
24 trendlines 38 gossip report
SEPTEMBER 2016 | THE COMMERCIAL RECORD | 3
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from the editor
LOW RATES, HIGH YIELDS
I
t’s been a long, challenging couple of years for Connecticut’s lending institutions.
In many ways the consumer-facing aspect of banking hasn’t changed much. Community banks and credit unions are as committed to their founding ideals as they have ever been – they’re still taking local deposits, making local loans and serving as a valuable financial resource to the residents of the state. They continue to sponsor town days, donate to nonprofits and award scholarships. But behind the scenes, from the DoddFrank fallout to prolonged low interest rates to TRID regulations to cybersecurity issues, the financial industry has changed in ways that we’re still trying to parse. Margins are tighter and interest income isn’t likely to come back any time soon – everyone is feeling squeezed from all sides, especially the smaller institutions. And yet somehow they are making it work. This issue of The Commercial Record contains the annual Fast 50, a ranking of the fastest growing lenders in the residential and commercial real estate in-
dustries. Comparing the first six months of 2016 to the same timeframe last year, these lenders cross all categories – banks, credit unions, mortgage companies and others. The volume and number counts include both purchase and nonpurchase loans; portfolio compositions vary by company. Some cite robust refi growth this year as helping boost their rankings; others report moving strongly into underserved populations in their areas; still others say they’ve expanded their geographic territories and are seeing robust growth outside of their usual haunts. Low interest rates have held on for so long one might assume any homeowner who was going to refi has already done so, but no, say local lenders – the refi market, while no longer at its peak of several years ago, remains strong. On the other side of the low-interest coin, mortgages are more affordable than they’ve ever been – a boon for homebuyers. As the real estate recovery has ever
so slowly gained traction in Connecticut, the sales figures provided by The Warren Group, publisher of The Commercial Record, show local lenders are taking full advantage. There’s also opportunity in commercial development. The parameters placed on the Fast 50 resulted in a moderately paced 20 instead of a Fast 50; a disappointing outcome for the state’s commercial development scene, but illustrative of space to grow for savvy lenders. It’s a strange new world for financial institutions – particularly in the residential real estate sector – but the Nutmeg State’s lenders are a smart bunch, and they’re already figuring it out. Congratulations to this year’s Fast 50 – keep up the good work, and we’ll see you in 2017. n
Cassidy Murphy Editorial Director Email: cmurphy@thewarrengroup.com
SEPTEMBER 2016 | THE COMMERCIAL RECORD | 5
Talking Money Matters
AS WOMEN GAIN IN EARNING POWER, CHALLENGES IN INVESTING, PLANNING FOR RETIREMENT Information Age Helping Close The Confidence Gap
BY LAURA ALIX | COMMERCIAL RECORD STAFF
T
o a layperson, the financial services industry can seem like it’s cloaked in mystery. When you layer traditional gender roles on top of that perceived shroud of secrecy, that can add up to trouble for women, for whom financial planning is especially important. Sandra Greer, a trust and investment officer with First County Advisors, the wealth management division of First County Bank, finds that troubling. In her work, she often meets intelligent, driven women who are, for whatever reason, OK with the stereotype
that the family finances are a man’s domain. “It’s not just women, but there is a disproportionate impact on women,” she said. “There’s no deep mystery, but there is this sense among a lot of women I talk to, like, ‘I don’t want to make a mistake or say some-
6 | THE COMMERCIAL RECORD | SEPTEMBER 2016
thing stupid,’ or ‘Am I allowed to ask this?’” Though financial planning and saving for retirement are important issues for people of all genders and backgrounds, they’re especially salient for women. For one thing, women tend to outlive their spouses – at least in heterosexual partnerships. While the gender gap in life expectancy is narrowing, the 2010 U.S. Census found the proportion of women aged 90 or older still outnumbered men in the same age categories. Earlier census data estimated that nearly 700,000 women lose their husbands every year and remain widows for
an average of 14 years. Further, while 32 percent of women aged 55 and older are widows, just 9 percent of men in that age group are widowed. For another thing, women tend to make less money over the course of their lives. Perhaps that’s due in part to the fact that women tend to take more time out of the workforce to raise their children and care for aging parents and in-laws (and that’s time that they probably aren’t contributing to a 401(k) or other retirement savings plan). But even as women juggle more responsibilities than ever before, they’re also earning and inheriting more. The BMO Wealth Institute estimated last year that women now control about 51 percent of the wealth in the United States and projects that proportion to rise to 67 percent by 2030. And an oft-cited 2009 study out of Boston College’s Center on Wealth and Philanthropy projects that women will inherit about 70 percent of the $40 trillion in wealth that’s set to change hands over the next 40 years. But when a family’s financial matters have been largely the man’s domain, as has often been the case in older generations, that means a steep learning curve when a death or divorce happens, adding to an already stressful situation. As a trusts and estates attorney with Day Pitney LLP, Leiha Macauley has seen this all too often. “We see it quite frequently with widows and it adds an incredible amount of stress to an already stressful situation,” Macauley said. “If you’re coming into unfamiliar territory and sitting down with a lawyer you may not have worked with before and now you’re filing the tax returns. … It’s a lot when you’re also dealing with the loss of a spouse.”
The Confidence Gap It’s not that women are necessarily lacking in knowledge. To the contrary, the financial planners who spoke to The Commercial Record for this article said their female clients are just as competent as their male clients; the problem is, they don’t always know it. “The No. 1 issue I see is that there’s a mental block that finances never was for them,” said Nora Yousif, a Certified Financial Planner and associate vice president and financial adviser with RBC Wealth Management. “That’s a mistake, because it makes
“
There’s no deep mystery, but there is this sense among a lot of women I talk to, like, ‘I don’t want to make a mistake or say something stupid,’ or ‘Am I allowed to ask this?’” — Sandra Greer, vice president, trust and investment officer, First County Advisors
them less apt to talk about finances in the workplace and ask for more money.” That mental block can also lead to unwise financial decisions after a death or divorce, she said. Sometimes women don’t know that widows can collect 100 percent of their deceased spouse or ex-spouse’s benefits under Social Security, she said. Or she’ll sometimes see women hold onto a house they can’t afford after a divorce or sacrifice their retirement savings to put their kids through college. But the confidence gap is beginning to close. “I do see a shift that’s happening. When I meet with younger couples, it’s rare that I will only meet with the husband,” Macauley said. “I see more husbands in Gen X and Millennial couples are consulting with their wives and spouses on retirement decisions, estate planning and tax decisions. There’s much more communication and involvement of both spouses equally.” Greer thinks the sheer volume of financial information that’s available to everyday consumers is having an impact, too. Once upon a time in her career, she said, she would field queries from curious clients who would hear about a particular company, maybe at a dinner party, and wonder if they should buy stock in it. Often they relied on word of mouth and didn’t even know what the company did. “Now, in today’s world, I have 85-year-old clients who have CNBC going in their kitchen all day long and are coming to me with incredibly insightful investment ideas,” she said. “That is every bit as much a function of how our world has changed and the accessibility of financial information. There’s no way to really describe how night and day it is.”
Demanding More
ing power and their demand for financial education. Yousif, for instance, hosts a regular educational series called “Wine, Women and Wall Street,” where she pairs a wine and appetizer tasting with financial education and personal development. A third-generation financial advisor, Yousif wanted to create a “fresh, casual and comfortable” environment for women to learn about finances. She launched the series with just a handful of women, but now it sells out to standing room only. The private banking firm Brown Brothers Harriman has also launched the Center for Women and Wealth. “We formed the Center for Women and Wealth specifically to engage women in the planning and wealth management process and to make sure we’re supporting women as they create capital and create wealth,” Executive Director Adrienne Penta said. The center works with the Babson Center for Women’s Entrepreneurial Leadership on academic research, and it publishes the quarterly Women & Wealth Magazine. The center has hosted events focused around the themes of women on corporate boards, work-life balance and closing the confidence gap. And Greer described late nights hosted at a client’s home, where she would talk with a dozen or so women about all manner of financial planning. As somebody who advises clients on all manner of personal financial matters, she thinks it’s incumbent upon the financial services industry to make that information open and easy for clients to understand. “The truth is, this is just being a well-informed consumer,” she said. “My feeling is, if you’re walking out and you don’t understand what I said, it’s not your problem, it’s my problem.” n
The financial services industry is increasingly waking up to women’s increased earn-
Email: lalix@thewarrengroup.com
SEPTEMBER 2016 | THE COMMERCIAL RECORD | 7
STATE STATISTICS Number of Single-Family Sales by Price Range
10-Year Single-Family Sales 22,000
18,000
19,250
15,000
16,500
9,000 6,000
$700K+
1991
$500k-$699k
1996 2001 $400k-$499k
2006
2011
2016
$300k-$399k
4,000
$0-$299k 3,200
NUMBER OF SALES
NUMBER OF SALES
12,000
13,750
11,000
8,250
2,400
5,500
1,600
2,750
800 0
0 1991
1996
2001
2006
2011
2016
*Statistics include sales January - July All Years Source: The Warren Group
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
*Statistics include sales January - July All Years Source: The Warren Group
Lis Pendens and Foreclosures by Month 2,000
Lis Pendens Foreclosure Deeds 1,500
1,000
500
0
Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul
2014
2015
8 | THE COMMERCIAL RECORD | SEPTEMBER 2016
2016
Top 5 Lenders by Market Share Refinance Mortgages
Multifamily Median Price 300,000
Quicken Loan Inc | 2016 Rank: 1 | 2015 Rank: 4
2-Family 5.23%
3-Family
240,000
4.78%
Wells Fargo Bank NA | 2016 Rank: 2 | 2015 Rank: 1
PRICE
180,000
120,000
5.12% 60,000
5.51% 0
Webster Bank | 2016 Rank: 3 | 2015 Rank: 3
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 *Statistics include sales January - July All Years Source: The Warren Group
4.41%
20-Year Residential Median Prices 5.29%
300,000
Single-Family Bank Of America NA | 2016 Rank: 4 | 2015 Rank: 5
Condo 240,000
3.47%
180,000
American Eagle FCU | 2016 Rank: 5 | 2015 Rank: 8
PRICE
4.7%
120,000
3.32% 60,000
2.29% 0
2016
2015
*MarketShare percent includes loans through July for both years
96 97 98 99 00 01 02 03 04 04 06 07 08 09 10 11 12 13 14 15 16 *Statistics include median prices January - July All Years Source: The Warren Group
SEPTEMBER 2016 | THE COMMERCIAL RECORD | 9
Soaring Sales
HOME PRICES DOWN, SALES UP … FOR NOW Downward Economic Trend Drags State Economy
BY JIM MORRISON | COMMERCIAL RECORD STAFF
I
f current trends continue, it could spell trouble for the Nutmeg State, according to the National Association of Realtors’ report on the impact of residential real estate sales on the local economy.
According to NAR’s report, Connecticut’s 2015 median home sale price of $267,400 contributed about $75,694, or 28.3 percent of the sale price, into the lo-
cal economy in various ways. That number breaks down to $24,066 in fees for attorneys, mortgage originators, appraisers and so on. New home-
10 | THE COMMERCIAL RECORD | SEPTEMBER 2016
owner spending on remodeling and furniture, etc., comes to $4,494. And for every eight homes sold, one more is built; a new home contributed $33,425 to Connecticut’s economy. On top of that, there’s what economists call a “multiplier effect” – the additional spending at restaurants, sporting events and charity events after a home is sold. In Connecticut, that figure was $13,709 in 2015.
NAR and The Warren Group use different statistical information to calculate sale prices; The Warren Group’s 2015 median sale price figure for Connecticut was $246,000. All told, according to the NAR report, the real estate industry accounted for nearly $45 billion, or 18.2 percent, of the gross state product in 2012. That’s pretty good, said Jonathan Smoke, chief economist for Realtor.com. “The contribution to the economy is typically between 15 and 19 percent,” Smoke said. “Connecticut is on the higher end of that, which speaks to a healthy amount of turnover and new construction.”
A Concerning Trend However, according to data from The Warren Group, publisher of The Commercial Record, while the numbers of single-family home sales have been climbing since 2013, sales prices have been falling. That’s bad news for real estate, and for the rest of the state’s economy. The 2015 median sale price was $246,000 and contributed just $70,641 per sale, but since sales were up about 15 percent over the previous year, the economy made up the difference on volume. But with jobs and people leaving the state, what will become of the real estate market and the state economy? According to U.S. Census data, the population of the state has dropped slightly, a few thousand people each year for the past two years. General Electric has left, Aetna is considering out-of-state locations and even Travelers Insurance has moved some jobs out of state. “Growth and stability are the fundamental drivers to demands and key to appreciation in value,” Smoke said. “Losing population translates to losing households and that’s not a good indicator.” If jobs and people continue to leave the state, it could be the beginning of a downward spiral. “My guess is housing’s contribution to the economy could diminish, which can be a vicious cycle,” Smoke said. “When
All figures are for single-family homes. Source: The Warren Group
it’s in decline, it takes some of the juice out of the economy, which can result in fewer transactions and price declines.”
A Long Downhill Stretch Smoke is not forecasting the total collapse of the state economy. A widespread decline in home values is typically the result of a large and particular stress on the market – like the last housing bubble. “If these trends continue, first we’ll see fewer sales, then, not a crash, but a lack of appreciation,” Smoke said. “Home prices are pretty sticky. It takes a big amount of stress to make them crash.” And don’t look for relief any time soon – Professor John Glascock, economist and director of the University of Connecticut Center for Real Estate and Urban Economics, said these trends will likely continue for at least the next two or three years. Nearly every U.S. city of Hartford’s size is shrinking due to demographic changes – young people want to live and work in the bigger, more diverse, more vibrant cities.
“Hartford, New Haven, Bridgeport and Waterbury are shrinking,” he said. “I’m worried that unless we get a better cohort where we attract clusters of companies with good jobs and the people who want them, we’re going to see this continue.” While the increasing number of sales helps offset the decline in sales prices, Glascock thinks it comes from homeowners who would have sold sooner, but are simply tired of waiting for their home value to fully recover and are selling now. He said those sales will fall again after a couple of years or so. “I don’t think you’re going to see strong price appreciation unless the cities or the state gets a base of employment where there’s a cluster of jobs,” Glascock said. “We’re a fairly wealthy state and we have some good jobs that’ll be here for a good while; however, they will slowly go away – not because it’s anybody’s fault – just for reasons of efficiency.” n Email: jmorrison@thewarrengroup.com
SEPTEMBER 2016 | THE COMMERCIAL RECORD | 11
C-CHANGES IN CONNECTICUT’S EXECUTIVE SUITES
JLL has named Christian Ulbrich as its new CEO, effective Oct. 1, replacing Colin Dyer, who will retire at the end of the year. Ulbrich joined JLL in 2005 as managing director of JLL Germany and was appointed CEO of its Europe, Asia and Africa group in 2009 before being named president in June. Prior to joining JLL, Ulbrich was CEO of Hamburg-based HIH Real Estate.
Martin G. Morgado was recently named president and CEO of the Savings Bank of Danbury. Morgado joined the bank in July 2001 as vice president of retail lending, and in 2007 assumed management responsibility for the mortgage banking division. In a statement announcing his promotion, the bank credited him as having played a key role in its 2010 acquisition of Stamford Mortgage Co. He was named senior vice president that same year and promoted to executive vice president in 2012. Last year, the Connecticut Bankers Association named him a New Leader in Banking.
Coldwell Banker Residential Brokerage has announced that JoAnn Stirling was recently appointed branch vice president and broker/owner of the company’s Madison office. Stirling will be responsible overseeing approximately 50 affiliated real estate professionals serving homebuyers and sellers in Madison, Clinton, Guilford, Westbrook and the surrounding shoreline communities. She recently received the Coldwell Banker International President’s Circle award.
Bank of America has named Sheilah Smith as vice president and senior mortgage loan officer in the Greenwich area. Smith will work with clients to assist their home financing needs in Greenwich and surrounding towns. She brings extensive residential lending experience, including home financings ranging from first-time homebuyers to retirees. Smith also has 24 years of industry experience working with a wide variety of client financial profiles and circumstances.
AWARDS & ACCOLADES
Alison Skratt, vice president of corporate communications at Webster Bank, has been honored as one of the winners of Webster’s 80 Days of Giving Volunteer Award. Skratt’s service helped earn $1,000 toward the nonprofit of her choice – Wellmore Behavioral Health’s Women and Children’s Program in Waterbury. The program aims to fight the stigma of mental health and substance abuse issues, and provides on-site child care, 24hour treatment services, culturally sensitive staff trained in issues of domestic violence and trauma.
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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.
JULIET MOORE LICENSED REAL ESTATE BROKER Juliet Moore prepared for her career in residential real estate by living in more than 20 different houses and owning several historic hotels and restaurants. How would you describe your market? Where we are, we only saw one year during the recession when things were bad. For me it was 2010. Then it came right back. That said, last year we sold tons of high-end properties, this year it was more lower-end properties. That’s just the way it goes. But I love this area and there’s no place else I’d rather live or work. It’s a very special, the Tri-State area. It’s very conservation-minded. I live in Falls Village and 55 percent of the land is in conservation. Even in the winter, it’s gorgeous. Real estate around here holds its value really well. If there’s one thing you could change in residential real estate, what would it be? I guess it’s hard when buyers have inspections on properties and they expect everything to be perfect. We like to say to sellers that if something is wrong with a mechanical system, the seller should take care of it. Otherwise, the report is just information for the buyer. Those are challenges almost every time.
JACK G. BUNDSCHUH EXECUTIVE VICE PRESIDENT, COMMERCIAL BANKING, MARKET MANAGER FOR CONNECTICUT AND NEW YORK, PEOPLE’S UNITED BANK Jack Bundschuh didn’t intend to get into banking, but when he joined a small Connecticut bank fresh out of college, he found that he enjoyed blending analytical skills with interpersonal skills in his work in the credit department there. How was 2015? We had a great year in ’15, we saw overall 13 percent loan growth, which for a state where the economy continues to be a challenge, it’s not robustly growing and certainly the state is not seeing an influx of business coming into the state. … It’s a very competitive market and we feel like 13 percent last year was a great year for us. We’re earning business every day, but it’s a challenge for sure. Can you share some of the highlights so far in 2016? This year we’re off to a good start. Some businesses are getting sold, which is great on one hand. There’s a lot of private equity money out there … so we’ve seen some payoffs from some companies getting sold, which is good and bad. We continue to see a good level of activity, but it’s a hypercompetitive market, so we’re looking forward to another great year in ’16 and hopefully the trends we saw last year will continue this year.
DARREN GAGLIARDI PARTNER, GAGLIARDI, DOUCETTE & GERAGHTY LLC Darren Gagliardi opened his real estate practice 11 years ago and now has offices in South Windsor and West Hartford, where he grew up. He’s worked in politics, accounting, bought and sold property, and has a health real estate law practice. What drew you to study law and practice real estate law? At the time there was some thought of entering politics, though that’s not where my head is now. I’ve always been an entrepreneur. I’ve done a lot of different things from a business standpoint. I think that’s why I focus on transactional real estate business practice. What are you seeing in the market? It’s been a very strange recovery. By everyone’s account, we’ve been hovering around historically low interest rates, which drives volume. There are a lot of properties and foreclosures and it may just be a matter of working through the inventory of properties. Our volume has been increasing for years; this year has been our best year ever. With Dodd-Frank and TRID, what happened from a consumer standpoint, I hope it’s been helpful. From a lawyer’s standpoint, there are more hoops to jump through. The process is much more rigorous for attorneys. SEPTEMBER 2016 | THE COMMERCIAL RECORD | 13
Top Dollar
UNDER NEW OWNERSHIP
Office Investors Bank On Hartford’s Future
Boston-based Paradigm Properties acquired 1 CityPlace, a 38-story office tower in downtown Hartford which is 97 percent leased, for $113.3 million in the past year’s largest commercial real estate transaction.
BY STEVE ADAMS | COMMERCIAL RECORD STAFF
O
ut-of-state investors had distinct reasons to pay top dollar for Connecticut’s biggest-ticket commercial real estate transactions of the past year. Boston-based Paradigm Properties acquired the state’s tallest building in Hartford’s 1 CityPlace, giving it ownership of an iconic property with a high occupancy rate and long-term anchor tenant in UnitedHealthcare. BHN Assoc. of Monsey, New York, plans to tap into the influx of full-time residents and daytime workers in Hartford’s Constitution Plaza, where it acquired six build-
ings for $71.1 million. Big institutional investors made their presence felt with two other top transactions. German real estate fund Deka Immobilien paid $105.5 million for Amazon’s new warehouse and distribution center in Windsor, while Healthcare Trust of America bought a large office and medical building in New Haven for $73 million.
14 | THE COMMERCIAL RECORD | SEPTEMBER 2016
The state’s largest office investment sale, Paradigm’s $113.3 million acquisition of 1 CityPlace, is a vote of confidence in downtown Hartford’s future, CEO Kevin McCall said. The Greenwich native has invested in commercial and multifamily properties throughout the East Coast and Midwest, but this is Paradigm’s first recent acquisition in Connecticut. The 38-story, 885,000-square-foot CityPlace I is 97 percent occupied, including anchor tenant UnitedHealthcare, which occupies half of the building after signing a long-term lease in 2010.
“The opportunity from our point of view is there’s a lot of stability in the building,” McCall said. “We felt there was a good probability that UnitedHealthcare stays, and that’s a bet that we’re making.” The remainder of the building is leased to a variety of tenants including law firms and Bank of America. Part of a two-building complex, it’s connected by a 4-story, roughly 12,000-square-foot atrium to the 18-story CityPlace II tower that was sold at auction in 2014 to a group of New York investors. The atrium provides opportunities to add placemaking and amenities, McCall said, since it’s used as a cut-through for pedestrians between Asylum and Pearl streets. But ultimately, the performance of CityPlace I will hinge on the health of the Hartford office market and the city’s attempts to foster a 24-7 downtown environment. The University of Connecticut is building a $140 million campus scheduled to open in 2017 at the former Hartford Times property on Front Street. Multifamily development has generated hundreds of new apartments downtown, including signature projects such as Fairfield developer Bruce Becker’s conversion of the 26-story former Hartford National Bank tower into 285 apartments and 60,000 square feet of commercial space. The infusion of college students and full-time residents could have a transformative effect upon the downtown area, McCall said. “What’s very important to our deal was what’s going on in Hartford in general. It’s experiencing some of the same urbanization that we’re seeing in practically every other city in the country,” he said. “Hartford has been accused of having a pretty quiet downtown after 5 p.m., and that’s beginning to change.”
More Foot Traffic Sought In Constitution Plaza Developer BHN Assoc. wants to build connections with the surrounding
The performance of CityPlace 1 will hinge on the health of the Hartford office market and the city’s attempts to foster a 24-7 environment. neighborhood after acquiring six buildings in Constitution Plaza for $71.1 million from MetLife in mid-2015. The 664,000-square-foot portfolio contains tower space at One and 100 Constitution Plaza and low-rise buildings at 10, 248, 250 and 260 Constitution Plaza, along with a 1,743-space garage. One anchor tenant, XL Reinsurance America, extended its 130,000-squarefoot lease through 2027, while law firm Shipman & Goodwin LLP has committed to lease 115,000 square feet through 2026, said Mordy Wider, CEO of BHN Assoc. The timing is good, with more foot traffic from new state offices opening in the neighborhood, Wider said. More than 2,000 state Department of Revenue Services employees started moving into 450 Columbus Boulevard in July, an office building overlooking Constitution Plaza that the state acquired in 2013. The same month, University of Connecticut trustees approved a lease renewal of the school’s Graduate Business Learning Center at 100 Constitution Plaza and an expansion to an additional two floors. With its large outdoor plazas, BHN’s 7-acre acquisition presents opportunities to host more public events, and the owners are looking to find a restaurant to occupy 9,600 square feet with outdoor seating, Wider said. “This part of Hartford is going to be the busiest,” Wider predicted. “Until now it was quiet, but there’s going to be a big need for restaurants and for retail.” Next steps include new exterior lights to call attention to the tower space and possible conversion of basement space
into self-storage to serve the growing downtown residential population, he said.
Institutional Investors Make Presence Felt Big institutional investors emerged as winners in two of the other top sales of the past year. In May, Deka Immobilien acquired the new 1.5-million-square-foot Amazon warehouse and in Windsor for $105.5 million. Deka has been active in recent trophy investment sales in the Northeast this spring, including the $139-million purchase of the 175 Federal St. office building in Boston and its first U.S. hotel acquisition, the $270 million Marriott East Side Hotel in New York. Scottsdale, Arizona-based Healthcare Trust of America paid $73 million in January for One Long Wharf Drive, a 287,000-square-foot medical office building that’s 99 percent occupied. The acquisition gives HTA an opportunity to expand partnerships with Yale University Health System, the company said in an announcement. The complex has just two suites with under 3,000 square feet available, said Frank Hird, a vice president for Branford-based O,R & L Brokerage. HTA’s strategy is to gradually convert more of the building into medical offices, Hird said. Currently, just under 50 percent of the leasable area is occupied by medical tenants. That will steadily increase as leases roll over, Hird said. “Honestly, we have a backlog of potential medical tenants that want to be in there. We just don’t have the space for them yet,” he said. n Email: sadams@thewarrengroup.com
SEPTEMBER 2016 | THE COMMERCIAL RECORD | 15
NEWS ROUNDUP FORMER CU EMPLOYEE SENTENCED TO PRISON FOR EMBEZZLEMENT SCHEME
YARD GOATS OWNER BUYS MA APARTMENT COMPLEX
An Enfield woman will serve jail time for embezzling more than $840,000 from the credit union that employed her. Pamela Mallory was sentenced to 21 months in prison, followed by five years of supervised release. According to a statement from U.S. Attorney Deirdre M. Daly’s office, Mallory used her position as a lending manager at Windsor Locks-based 360 Federal Credit Union to open at least five different home equity lines of credit in the name of a credit union member between 2009 and 2016. She increased the credit limit on those HELOCs on at least 15 occasions without the knowledge or consent of that member, Daly’s office said. When the credit union discovered the scheme, it found that the member’s property, which was worth less than $150,000, was supporting two fully drawn down HELOCs that each had limits of $417,000. In total, she stole approximately $840,378.28 from 360 Federal Credit Union and used the proceeds of the scheme to pay her own creditors. Mallory pleaded guilty to one count of embezzlement by a credit union employee in May. She was ordered to make full restitution, in addition to her sentence. Mallory was released on bond and ordered to report to prison on Sept. 28.
DSF Group of Waltham, Massachusetts has acquired 480 Main for $73.75 million from Priderock Capital Partners. The 195-unit, 214,337-square-foot apartment complex is in Malden Square in Massachusetts. The sale price is $378,205 per unit. The complex is asking $1,880 for 526-square-foot studios and $2,845 for twobedroom units, according to listings on Apartments.com. Average in-place rents as of January 2016 were $2,238 per month, according to a marketing sheet. CBRE’s Simon Butler and Biria St. John represented the seller. Axa Equitable Life Insurance of New York provided a $45 million mortgage, according to a Middlesex County Registry of Deeds filing. Downtown Malden is in demand from developers because of its proximity to a busy MBTA transit center including bus, commuter rail and Orange Line service. DSF’s portfolio includes multifamily properties along the East Coast and the Novartis headquarters in Cambridge, Massachusetts, which it converted from a former Necco candy factory. DSF President Josh Solomon is also owner of the Hartford Yard Goats, the AA affiliate of the Colorado Rockies. The team had planned to relocate from New Britain to a new $63 million stadium in Hartford this spring. But the Hartford Stadium Authority terminated the contract with developers DoNo Hartford LLC and Centerplan Cos. in June after they missed deadlines, forcing the team to play its home games in Norwich. The developer launched a lawsuit against Solomon in July. DSF did not return a call seeking comment.
BHHS PREPARES TO LAUNCH SECOND PHASE OF INTERNATIONAL EXPANSION Berkshire Hathaway HomeServices announced plans for phase two of its two-part international expansion. Phase one launched in May 2016 with a new property-search platform on its website and a listing-syndication program which broadcasts the company’s listings to 70 real estate websites worldwide. Gearing up for phase two, Berkshire Hathaway HomeServices is targeting franchises in specific markets around the world. The company aims to support domestic franchises by helping them understand international business and add brokerages abroad.
AETNA TO REDUCE PARTICIPATION IN 2017 OBAMACARE EXCHANGES
EVENTS
Aetna has announced it will reduce its individual public exchange participation in the upcoming year, but plans to maintain an on-exchange presence in Delaware, Iowa, Nebraska and Virginia. The company, focusing on the Affordable Care Act’s individual public exchanges, will reduce the participation from 778 to 242 counties in 2017. Aetna will continue to provide an off-exchange product option for 2017 to consumers in the vast majority of counties in which it offered the public exchange products in 2016. The announcement does not affect any of the company’s products or services for this year, Mark T. Bertolini, Aetna chairman and CEO, said in a statement.
2016 ASSET/LIABILITY MANAGEMENT SEMINAR Connecticut Bankers Association Sept. 15, 2016 Radisson Hotel, Cromwell, 100 Berlin Road, Cromwell, CT 06416 Who should attend: Senior and middle banking and finance managers, and all members of the asset-liability committee More information: http://portals7.gomembers.com/ctbank/Education/ Calendar.aspx
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16 | THE COMMERCIAL RECORD | SEPTEMBER 2016
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fast50 LENDERS INCREASE PORTFOLIOS DESPITE LOW RATES, FALLING PRICES Competition Heats Up For Commercial Loans Statewide
BY LAURA ALIX | COMMERCIAL RECORD STAFF
I
n an ultra-prolonged, ultra-low rate environment, Connecticut lenders are still managing to beef up their portfolios – at least, if this year’s Fast 50 is any indication.
The Fast 50, compiled from data collected by The Warren Group, publisher of The Commercial Record, reveals the 50 fastest growing lenders in Connecticut for the first six months of the year, compared with the year-ago period. Connecticut’s residential market saw prices decline while transactions ticked up, and lenders like Envoy Mortgage and Nutmeg State Financial Credit Union ranked among the 50 fastest growing residential lenders. The Buffalo, New York-based M&T Bank also showed up on the Fast 50’s residential list. M&T ranked No. 7 by volume and No. 9 by number of loans, having made 125 loans totaling $43.3 million this year, compared with 65 loans worth $18 million last year. Its appearance in this year’s Fast 50 is almost certainly due to its recent acquisition of Hudson City Savings Bank. That deal gave M&T nine branches in Connecticut and helped to fill out its footprint across the tri-state and Mid-Atlantic region.
Commercial Ticks Up Even as the state has struggled with the perception that it’s unfriendly to business, Connecticut’s community financial institu-
tions have been more than happy to supply the capital small to mid-sized businesses needed this year for commercial properties. For example, Ion Bank claimed the No. 2 spot on the Fast 50 for commercial loans by volume. (It was ranked No. 7 by number of loans.) The Naugatuck-based bank made 38 commercial real estate loans worth $41.7 million in the first half of 2016, compared with 27 loans totaling $9.9 million in the year-ago period. That represents an increase in volume of nearly 323 percent. Jayne Kelly, senior vice president of commercial lending at Ion Bank, said that the bank has in recent years added front line and back end staff in its loan administration area with the aim of better handling a greater volume of loans. The basic idea is to free up commercial lenders’ workloads so they can spend more time pounding the pavement and bringing deals back to Ion Bank. As to what many of those deals entailed, Kelly said, “We’re seeing multifamily construction. We’re doing a fair number of development projects and new residential developments. We’ve also done some owner-occupied commercial real estate, and we’ve been working a lot with service industries.”
Chelsea Groton Bank, meanwhile, topped the Fast 50’s commercial list by number of loans and took the 17th spot by volume. The bank made 35 loans totaling about $29.6 million in the first half of this year, compared with 18 loans totaling $18.5 million last year, representing a 94.4 percent increase in volume and a 60.3 percent increase by number of loans. Some of that comes down to timing, said Tony Joyce, commercial lending manager. Throughout 2014 and 2015, many of the deals in Chelsea Groton’s pipeline closed in the second half of the year, whereas the Fast 50 measures deals closed in the first half of the year. But Chelsea Groton Bank also recently moved beyond its traditional footprint in New London County when it a loan production center in Glastonbury last fall. Joyce said that Chelsea Groton has financed properties ranging from apartment buildings to retail to a golf course, and he said that competition for the good credits has been fierce. “Pricing is very intense from a competition standpoint, but we’re sticking to our underwriting philosophies,” he said. “We’re not compromising on underwriting. We’ve had to get a little sharper pencil from a pricing standpoint and for the right credits, we understand that we have to do that.” n Email: lalix@thewarrengroup.com
The Fast 50 ranks the 50 fastest-growing loan providers in the state, including mortgage and financial companies, banks, credit unions and other financial institutions. Rankings compare the number of loans through June 2015 to the number of loans made through June 2016, and the volume of loans through June 2015 to the volume of loans through June 2016. Rankings include purchase and non-purchase loans. Commercial rankings had a minimum of five loans in 2015 and a minimum of $3 million in loan volume in 2016. Due to these requirements, the number of qualifying lending institutions was reduced to 20 in each category. Residential rankings had a minimum of 25 loans and a minimum of $2 million in volume in 2015. Residential includes one- to four-families and condominiums. All rankings are statewide. All data is sourced by The Warren Group from public records, which may contain errors. For more information please contact Data Solutions at 617-896-5365. SEPTEMBER 2016 | THE COMMERCIAL RECORD | 17
fast50 Lender
Residential by Number of Loans
2015
2016
% Change
Lender
2015
2016
% Change
26.
Ocwen Financial Service Inc.
64
91
42%
27.
Sanborn Mortgage Corp.
35
49
40%
174%
28.
Provident Funding Assoc.
161
225
40%
221
166%
29.
Cardinal Financial Co. LP
45
62
38%
62
163
163%
30.
Contour Mortgage Corp.
37
50
35%
Mutual Security Credit Union
51
128
151%
31.
RBS Citizens Bank NA
673
901
34%
7.
Amerisave Mortgage Corp.
37
77
108%
32.
Northpoint Mortgage
118
157
33%
8.
Cendant Mortgage Group
47
92
96%
33.
Achieve Financial Credit Union
91
119
31%
9.
M&T Bank NA
65
125
92%
34.
TD Bank NA
501
655
31%
10.
Housing Development Fund Inc.
85
157
85%
35.
CTHM LLC
220
286
30%
11.
Pacific Union Financial LLC
73
131
80%
36.
Eastern Savings Bank FSB
61
78
28%
12.
Parkside Lending LLC
46
82
78%
37.
New Penn Financial LLC
112
140
25%
13.
Quorum Federal Credit Union
26
45
73%
38.
Windsor Federal Savings and Loan Association
109
136
25%
14.
Pennymac Loan Services LLC
46
78
70%
39.
Nationstar Mortgage
296
368
24%
15.
Washington Trust Mortgage Co.
45
75
67%
40.
Guaranteed Rate Inc.
445
551
24%
16.
Federal Savings Bank
27
44
63%
41.
Freedom Mortgage Corp.
331
409
24%
17.
Fairway Independent Mortgage
47
74
57%
42.
Warshaw Capital LLC
30
36
20%
18.
United Shore Financial Services LLC
215
338
57%
43.
Sikorsky Financial Credit Union Inc.
318
381
20%
19.
IServe Residential Lending
39
61
56%
44.
Residential Mortgage Services Inc.
349
415
19%
20.
Connecticut State Employees Federal Credit Union
194
303
56%
45.
Putnam Bank
128
152
19%
21
Homeowners Finance Co.
29
43
48%
46.
Charter Oak Federal Credit Union
537
636
18%
22.
Inland Bank & Trust
34
50
47%
47.
Savings Institute
278
325
17%
23.
Residential Home Mortgage Corp.
30
44
47%
48.
American Neighborhood Mortgage Acceptance
78
91
17%
24.
Reliance First Capital LLC
26
38
46%
49.
Homebridge Financial Services Inc.
211
246
17%
25.
Mortgage Research Center
119
170
43%
50.
Chelsea Groton Bank
348
404
16%
1.
Envoy Mortgage LTD
58
216
272%
2.
First Alliance Lending LLC
25
74
196%
3.
American Financial Resources
46
126
4.
Carrington Mortgage Services LLC
83
5.
Nutmeg State Federal Credit Union
6.
18 | THE COMMERCIAL RECORD | SEPTEMBER 2016
Residential by Volume of Loans
Lender
2015
2016
% Change
Lender
2015
2016
% Change
26.
Ocwen Financial Service Inc.
$11,727,343
$17,465,727
49%
27.
Housing Development Fund Inc.
$2,859,864
$4,215,710
47%
226%
28.
Chelsea Groton Bank
$48,310,880
$70,407,022
46%
$19,094,884
187%
29.
RBS Citizens Bank NA
$152,857,303
$220,494,460
44%
$10,318,921
$25,488,710
147%
30.
Windsor Federal Savings and Loan Association
$12,026,887
$16,772,311
40%
Carrington Mortgage Services LLC
$16,779,518
$40,452,096
141%
31.
Mortgage Research Center
$28,928,865
$39,704,519
37%
7.
M&T Bank NA
$18,015,168
$43,273,214
140%
32.
Simsbury Bank and Trust Co.
$51,904,538
$70,853,063
37%
8.
Parkside Lending LLC
$10,489,347
$22,472,396
114%
33.
Provident Funding Assoc.
$43,060,693
$58,284,600
35%
9.
Federal Savings Bank
$7,228,633
$14,269,072
97%
34.
Reliance First Capital LLC
$6,098,420
$8,187,602
34%
10.
Amerisave Mortgage Corp.
$10,088,100
$19,130,024
90%
35.
Putnam Bank
$16,098,805
$21,531,409
34%
11.
Fairway Independent Mortgage
$9,434,411
$17,447,364
85%
36.
Northpoint Mortgage
$23,894,593
$31,715,138
33%
12.
Northwest Community Bank
$8,538,766
$15,409,475
81%
37.
Contour Mortgage Corp.
$9,789,333
$12,846,910
31%
13.
Washington Trust Mortgage Co.
$11,046,345
$19,403,280
76%
38.
New Penn Financial LLC
$26,419,349
$34,638,295
31%
14.
Cendant Mortgage Group
$12,219,933
$20,685,517
69%
39.
CTHM LLC
$58,842,300
$76,377,935
30%
15.
First Bank of Greenwich
$8,188,218
$13,708,776
67%
40.
USAA Federal Savings Bank
$37,978,942
$48,841,061
29%
16.
Citizens National Bank
$2,255,808
$3,748,725
66%
41.
Sikorsky Financial Credit Union Inc.
$41,603,900
$53,336,509
28%
17.
Inland Bank &Trust
$7,112,558
$11,662,793
64%
42.
First Republic Bank
$95,768,215
$118,163,885
23%
18.
IServe Residential Lending
$9,028,413
$14,728,061
63%
43.
Nationstar Mortgage
$56,150,523
$68,990,580
23%
19.
Pennymac Loan Services LLC
$11,841,582
$19,270,867
63%
44.
Third Federal Saving & Loan Association
$10,186,295
$12,449,800
22%
20.
USA Alliance Federal Credit Union
$5,562,462
$8,945,729
61%
45.
Guaranteed Rate Inc.
$118,941,104
$145,388,254
22%
21
Pacific Union Financial LLC
$17,047,880
$27,189,858
60%
46.
Freedom Mortgage Corp.
$71,653,459
$86,677,563
21%
22.
Connecticut State Employees Federal Credit Union
$21,754,604
$34,362,125
58%
47.
Homebridge Financial Services Inc.
$46,045,434
$55,031,800
20%
23.
TD Bank NA
$107,244,609
$163,364,236
52%
48.
Warshaw Capital LLC
$9,940,203
$11,841,550
19%
24.
Cardinal Financial Co. LP
$12,050,579
$18,296,531
52%
49.
Charter Oak Federal Credit Union
$69,763,026
$81,788,871
17%
25.
United Shore Financial Services LLC
$57,686,792
$87,226,904
51%
50.
Eastern Savings Bank FSB
$10,152,350
$11,705,266
15%
1.
Envoy Mortgage LTD
$13,713,206
$49,495,695
261%
2.
Nutmeg State Federal Credit Union
$4,616,942
$15,644,598
239%
3.
First Alliance Lending LLC
$4,471,970
$14,585,532
4.
Mutual Security Credit Union
$6,661,850
5.
American Financial Resources
6.
SEPTEMBER 2016 | THE COMMERCIAL RECORD | 19
fast50
Commercial by Number of Loans Commercial rankings had a minimum of five loans in 2015 and a minimum of $3 million in loan volume in 2016. Due to these requirements, the number of qualifying lending institutions was reduced to 20 in each category.
Lender Name
2015
2016
% Change
Lender Name
2015
2016
% Change
1.
Chelsea Groton Bank
18
35
94%
11.
Liberty Bank
22
29
32%
2.
Community Investment Corp.
7
12
71%
12.
Milford Bank
10
13
30%
3.
Essex Savings Bank
10
15
50%
13.
Santander Bank NA
12
15
25%
4.
Farmington Bank
41
60
46%
14.
RBS Citizens Bank NA
17
21
24%
5.
M&T Bank NA
9
13
44%
15.
Farm Credit East ACA
12
14
17%
6.
First National Bank of Suffield
9
13
44%
16.
Collinsville Savings Society
6
7
17%
7.
Ion Bank
27
38
41%
17.
TD Bank NA
42
48
14%
8.
Connecticut Community Bank
10
14
40%
18.
Thomaston Savings Bank
44
50
14%
9.
Torrington Savings Bank
8
11
38%
19.
Webster Bank
114
127
11%
10.
Salisbury Bank & Trust
11
15
36%
20.
Fairfield County Bank Corp.
37
40
8%
Fairway Independent Mortgage Corporation is proud to be recognized as one of Connecticut’s fastest growing lenders by Commercial Record! Fairway is dedicated to providing an amazing experience for YOU every day. Come grow with us! Contact us today at 781.248.7100
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TOP MORTGAGE COMPANIES by Mortgage Executive Magazine
Fairway Independent Mortgage Corporation NMLS #2289 • 1.877.699.0353
www.fairwayindependentmc.com Copyright©2016 Fairway Independent Mortgage Corporation. NMLS#2289. 4801 S. Biltmore Lane, Madison, WI 53718, 866-912-4800. All rights reserved. This is not an offer to enter into an agreement. Not all customers will qualify. Information, rates and programs are subject to change without notice. All products are subject to credit and property approval. Other restrictions and limitations may apply. Equal Housing Lender.
Congratulations to all of the Fast 50!
20 | THE COMMERCIAL RECORD | SEPTEMBER 2016
Commerical by Volume of Loans Commercial rankings had a minimum of five loans in 2015 and a minimum of $3 million in loan volume in 2016. Due to these requirements, the number of qualifying lending institutions was reduced to 20 in each category.
Lender Name
2015
2016
% Change
Lender Name
2015
2016
% Change
1.
Salisbury Bank & Trust
$1,593,547
$11,475,695
620%
11.
Eastern Savings Bank FSB
$2,007,150
$3,885,000
94%
2.
Ion Bank
$9,871,254
$41,746,198
323%
12.
Simsbury Bank and Trust Co.
$5,016,157
$9,485,616
89%
3.
Collinsville Savings Society
$1,130,000
$4,473,000
296%
13.
Fairfield County Bank Corp.
$35,652,799
$65,596,805
84%
4.
Milford Bank
$3,633,567
$11,395,000
214%
14.
First Niagara Bank
$39,946,684
$69,064,422
73%
5.
Savings Institute
$4,141,331
$10,091,700
144%
15.
First National Bank of Suffield
$5,956,500
$10,220,750
72%
6.
Farmington Bank
$35,156,159
$84,867,618
141%
16.
Community Investment Corp.
$3,868,000
$6,579,000
70%
7.
Sachem Capital Partners LLC
$1,849,000
$4,221,000
128%
17.
Chelsea Groton Bank
$18,474,607
$29,609,518
60%
8.
Torrington Savings Bank
$1,702,050
$3,694,800
117%
18.
Liberty Bank
$13,820,661
$20,264,199
47%
9.
Jewett City Savings Bank
$3,490,010
$7,510,750
115%
19.
Webster Bank
$62,693,404
$90,775,351
45%
10.
Essex Savings Bank
$7,784,760
$16,673,250
114%
20.
RBS Citizens Bank NA
$19,512,500
$25,714,385
32%
You don’t have to grow it alone. Our new suite of products, services and technology enhancements were designed with your growing needs in mind. Join the thousands who have entrusted us with supporting their business by calling 860-448-4203 or visiting chelseagroton.com/growthatbusiness. Let’s grow that business of yours together.
SEPTEMBER 2016 | THE COMMERCIAL RECORD | 21
TOP COMMERCIAL TRANSACTIONS Visit www.commercialrecord.com for a complete list of commercial transactions updated weekly. TOP 3 STATEWIDE 301 Alumni Rd, Newington................... $22,414,743
136 Berlin Rd, Cromwell....................... $16,700,000
359 High St, East Hartford.................... $14,820,000
Use:............................................ Land-Vacant & Open
Use:............................................. Commercial Building
Use:............................................. Commercial Building
Buyer: ............................... Shelbourne Newington LLC
Buyer: ............................................TNO Cromwell LLC
Buyer: ................................... Colonial Rivermead MHC
Seller: .........................................Newington 2007 LLC
Seller: ............Cromwell Commons RSK LLC & MBMB
Seller: ....................................... Colonial Investors LLC
Date:............................................................. 07/01/16
Cromwell LLC
Date: ............................................................ 07/26/16
Total Assessed Value (2016): ........................$100,240
Mtg: ........................ Fairfield County Bank $7,490,000
Total Assessed Value (2016): .....................$4,475,562
Lot Size: ....................................................... 928264sf
Date: ............................................................ 07/22/16
Lot Size:..................................................... 1883534sf
Total Assessed Value (2016): .....................$6,178,700 Lot Size: ....................................................... 567151sf Prior Sale: ...................................$13,250,000 (02/14)
FAIRFIELD 204 Flax Hill Rd, Norwalk................ $4,575,000 Use:............................................... Apartment Building Buyer:................................................ 204 Flax Hill LLC Seller: .................................................. Garden Homes Mtg: ............................. First County Bank $4,400,000 Date: ............................................................ 07/19/16 Total Assessed Value (2016):........................ $601,810 Lot Size: ......................................................... 60984sf
300 French St, Bridgeport.............. $1,550,000 Use:............................................... Apartment Building Buyer: .............................BB French Management LLC Seller: .............................................300 French St LLC Date: ............................................................ 07/01/16 Total Assessed Value (2016): ........................$722,380 Lot Size: ......................................................... 12363sf Prior Sale: .....................................$1,333,900 (07/07)
547 Hope St, Stamford................... $1,175,000 Use:............................................. Commercial Building Buyer:......................................... 547 Hope Street LLC Seller: ....John C Healy Ex, Ex for Healy John Louis Est Mtg: ....................................Sterling Natl Bk $881,250 Date: ............................................................ 07/18/16 Total Assessed Value (2016):........................ $604,370 Lot Size: ......................................................... 21026sf Prior Sale: ........................................$498,000 (01/90)
2-A Rivermead Blvd, East Hartford.. $14,820,000* Use:............................................. Commercial Building Buyer: ................................... Colonial Rivermead MHC Seller: ....................................... Colonial Investors LLC Mtg: ......................Ladder Capital Fin LL $13,880,000 Date: ............................................................ 07/26/16 Total Assessed Value (2016): ........................$106,510 Lot Size: ........................................................... 9583sf Prior Sale: ............................................$7,000 (09/14)
247 High St, East Hartford........... $14,820,000* Use:............................ Mixed Use-Prim Comm & Resd Buyer: ................................... Colonial Rivermead MHC Seller: ....................................... Colonial Investors LLC Date: ............................................................ 07/26/16 Total Assessed Value (2016):..................... $3,038,160 Lot Size: ....................................................... 957013sf Prior Sale:.......................................... $10,000 (12/11)
10 Marine St, Thomaston................ $750,000 Use:...............................................Office Bldg-General Buyer:................................................. RKD Dawg LLC Seller: ........................................... 254 Commons LLC Mtg: ............................ Thomaston Svgs Bk $600,000 Date:............................................................ 08/01/16 Total Assessed Value (2016): ........................$467,390 Lot Size:......................................................... 28750sf Prior Sale: ..........................................$60,000 (02/08)
113 N Lake St, Litchfield................. $370,000 Use:............................................. Commercial Building Buyer:............................. Anthony Gallo & Cecilia Gallo Seller:.................. Dustin J Snavely & Adriannr Snavely Mtg: .......................................Citizens Bank $296,000 Date:............................................................ 07/01/16 Total Assessed Value (2016):........................ $260,050 Lot Size:......................................................... 41818sf Prior Sale: ........................................$355,000 (03/14)
182 Main St, Portland...................... $767,148 Use:.............................................. Gas/Service Station Buyer: ................................................. Dart Realty LLC Seller: ................................Marathon Petroleum Co LP Mtg: ......................... Bank of America NA $2,664,750 Date: ............................................................ 07/15/16 Total Assessed Value (2015): ........................$715,260 Lot Size:......................................................... 22651sf Prior Sale: ........................................$499,650 (10/14)
380 Boston Post Rd, Old Saybrook.. $670,000 Use:...................................... Commercial Vacant Land Buyer: .................................. Saybrook Realty Acq LLC Seller: ......................................................... Jay Kriegel Mtg: ..........................Guilford Savings Bank $842,000 Date: ............................................................ 07/27/16 Total Assessed Value (2016):........................ $503,600 Lot Size: ......................................................... 87120sf
HARTFORD 301 Alumni Rd, Newington............$22,414,743 Use:............................................ Land-Vacant & Open Buyer: ............................... Shelbourne Newington LLC Seller: .........................................Newington 2007 LLC Date:............................................................ 07/01/16 Total Assessed Value (2016): ........................$100,240 Lot Size: ....................................................... 928264sf
LITCHFIELD 21 Sabbaday Ln, Washington.......... $1,450,000 Use:............................................ Land-Vacant & Open Buyer: ......................................................24 ONR LLC Seller:..................... Diana L Beattie & Richard I Beattie Date:............................................................ 07/15/16 Total Assessed Value (2016): ........................$160,230 Lot Size: ....................................................... 140263sf Prior Sale: ........................................$710,000 (03/10)
MIDDLESEX 136 Berlin Rd, Cromwell................$16,700,000 Use:............................................. Commercial Building Buyer: ............................................TNO Cromwell LLC S: .Cromwell Commons RSK LLC & MBMB Cromwell LLC Mtg:........................ Fairfield County Bank $7,490,000 Date: ............................................................ 07/22/16 Total Assessed Value (2016):..................... $6,178,700 Lot Size: ....................................................... 567151sf Prior Sale: ...................................$13,250,000 (02/14)
*Group sales.
22 | THE COMMERCIAL RECORD | SEPTEMBER 2016
FEATURED PROPERTY 8 Pearl St, Stonington................................................................... $1,100,000 Use:........................................................................................ Commercial Building Buyer: ............................................................................................ ACK LLC Of CT Seller: .................................................... Arthur W Riordan & Margueriter R Riordan Date: ........................................................................................................07/18/16 Total Assessed Value (2016): ................................................................... $807,420 Lot Size: ..................................................................................................... 4356sf
NEW HAVEN 1175 State St, New Haven.............. $5,500,000 Use:..................................................Industrial Building Buyer: ......................................Amerco Real Estate Co Seller: ................................................. 1175 State LLC Date:............................................................ 08/02/16 Total Assessed Value (2016): .....................$2,030,000 Lot Size:....................................................... 254390sf Prior Sale: .....................................$1,810,000 (08/03)
202 Cherry St, Milford.................... $4,425,000 Use:............................................. Commercial Building Buyer: ........................................ LM Cherry Street LLC Seller:................................ 202-204 Cherry Street LLC Mtg: ..................... PeoplesBank (Holyoke) $3,247,000 Date: ............................................................ 07/12/16 Total Assessed Value (2016): .....................$1,109,090 Lot Size: ......................................................... 32670sf Prior Sale:........................................ $525,000 (11/95)
200 Boston Post Rd, Orange.......... $2,500,000 Use:............................................. Commercial Building Buyer: ............................... 200 Boston Post Road LLC Seller: .................................... Contemporary Post LLC Mtg:.................... Newtown Savings Bank $1,875,000 Date: ............................................................ 07/26/16 Total Assessed Value (2016): .....................$1,575,000 Lot Size: ......................................................... 86249sf
222 Flanders Rd, East Lyme......... $1,800,000* Use:..................................................Commercial Land Buyer: .................................................... Fitzleva 2 LLC Seller: ..........Richard D Karsmarski & Patricia M Widlitz Mtg:.........................Ford Motor Credit Co $1,650,000 Date: ............................................................ 07/01/16 Total Assessed Value (2015): ........................$130,340 Lot Size: ....................................................... 148066sf Prior Sale: .....................................$3,079,000 (05/06)
8 Pearl St, Stonington..................... $1,100,000 Use:............................................. Commercial Building Buyer: ................................................. ACK LLC Of CT Seller: .........Arthur W Riordan & Margueriter R Riordan Date: ............................................................ 07/18/16 Total Assessed Value (2016): ........................$807,420 Lot Size: .......................................................... 4356sf
160 Hartford Tpke, Vernon.............. $500,000 Use:...................................... Commercial Vacant Land Buyer: ........................................Hartford Turnpike LLC Seller: .....................................................Vernon 1 LLC Date:............................................................ 07/13/16 Total Assessed Value (2015): ........................$204,900 Lot Size: ......................................................... 73181sf Prior Sale: ........................................$275,000 (11/09)
10 Harlow St, Vernon....................... $425,000 Use:............................................... Apartment Building Buyer: ............................................. Harlow Street LLC Seller: .......................................Harlow Properties LLC Date:............................................................ 07/07/16 Total Assessed Value (2015):........................ $136,090 Lot Size: ......................................................... 21344sf Prior Sale: ........................................$240,000 (08/98)
267-A-D Lake St, Plainfield.............. $875,000 Use:................................... Apartment Bldg - 4-8 Units Buyer: ...........................................................Baldi LLC Seller: ................................ Moosup Pond Terrace LLC Mtg: ..........................Eastern Svgs Bk FSB $700,000 Date:............................................................ 07/29/16 Total Assessed Value (2016):........................ $131,310 Lot Size: ......................................................... 17860sf Prior Sale: ........................................$760,000 (11/12)
83 Quarry St, Windham.................... $725,000 Use:...............................................Office Bldg-Medical Buyer: .........................................Natchaug Realty LLC Seller: .......................................... JCL Associates LLC Date: ............................................................ 07/20/16 Total Assessed Value (2015): ........................$416,570 Lot Size: ......................................................... 37462sf Prior Sale: ........................................$540,000 (12/98)
NEW LONDON 218 Flanders Rd, East Lyme......... $1,800,000* Use:............................................. Commercial Building Buyer:.................................................... Fitzleva 2 LLC Seller:.......... Richard D Karsmarski & Patricia M Widlitz Mtg: ........................Ford Motor Credit Co $1,650,000 Date: ............................................................ 07/01/16 Total Assessed Value (2015): ........................$949,340 Lot Size: ......................................................... 57935sf
TOLLAND 175 Hartford Tpke, Vernon............. $1,115,000 Use:...................................... Commercial Vacant Land Buyer: ........................................Hartford Turnpike LLC Seller: .................................................... Carlex Ct LLC Date: ............................................................ 07/13/16 Total Assessed Value (2015): ........................$490,830 Lot Size: ....................................................... 183388sf Prior Sale:........................................ $650,000 (05/05)
WINDHAM 15 Skyline Dr, Windham.................. $4,375,000 Use:................................... Apartment Bldg - 4-8 Units Buyer: ..............................................I&G Investors LLC Seller: ........................................ Crossen Builders LLC Mtg:................................ Savings Institute $3,281,250 Date:............................................................ 07/25/16 Total Assessed Value (2015): ........................$362,040
SEPTEMBER 2016 | THE COMMERCIAL RECORD | 23
TRENDLINES
FAIRFIELD COUNTY SALES REPORT
NUMBER OF SALES
MEDIAN PRICE
JUL 2015
JUL %CHG 2015 2016 15-16 YTD
2016 YTD
1 Family
2 3
13
-43.48%
93
93
0.00%
$295,000
$319,000
8.14%
$295,000
$295,000
Condo
1 2
9
-25.00%
49
43
-12.24%
$322,450
$200,199
-37.91%
$299,900
$255,000 -14.97%
29
-27.50%
168
179
6.55%
$303,750
$310,000
2.06%
$298,950
$290,000
-2.99%
$152,000
1.33%
%CHG 15-16
JUL 2015
JUL %CHG 2015 2016 15-16 YTD
2016 %CHG YTD 15-16
BETHEL
All Sales
4 0
0.00%
BRIDGEPORT 1 Family
4 6
47
2.17%
245
295
20.41%
$163,500
$157,500
-3.67%
$150,000
Condo
1 4
29
107.14%
96
122
27.08%
$53,500
$92,500
72.90%
$80,500
1 13
131
15.93%
599
726
21.20%
$155,000
$124,654
-19.58%
$131,500
$130,000
All Sales
$71,000 -11.80% -1.14%
BROOKFIELD 1 Family
3 2
23
-28.13%
102
108
5.88%
$322,000
$375,000
16.46%
$351,000
$350,000
-0.28%
Condo
1 0
10
0.00%
44
41
-6.82%
$174,000
$284,485
63.50%
$180,000
$202,800
12.67%
4 5
37
-17.78%
188
182
-3.19%
$300,000
$355,000
18.33%
$310,000
$309,500
-0.16%
1 Family
4 6
41
-10.87%
203
248
22.17%
$289,500
$274,500
-5.18%
$265,000
$263,250
-0.66%
Condo
3 9
32
-17.95%
188
204
8.51%
$193,000
$225,000
16.58%
$189,250
$194,000
2.51%
1 21
93
-23.14%
533
602
12.95%
$279,900
$274,500
-1.93%
$257,500
$255,500
-0.78%
1 Family
7 3
24
-67.12%
224
171
-23.66%
$1,515,000
$1,032,500
-31.85% $1,432,500
$1,315,000
-8.20%
Condo
5
2
-60.00%
24
15
-37.50%
$1,727,776 -100.00% $1,720,396
8 1
29
-64.20%
266
205
-22.93%
$1,540,000
$1,015,000
1 Family
1 5
19
26.67%
66
68
3.03%
$675,000
$575,000
Condo
0
0
0
0
1 6
20
25.00%
70
79
12.86%
$662,500
$572,500
All Sales
DANBURY
All Sales
DARIEN
All Sales
-34.09% $1,508,000
$900,000 -47.69% $1,300,000 -13.79%
EASTON
All Sales
N/A
N/A
N/A
N/A
-14.81% N/A
$590,000 N/A
$598,500 N/A
1.44% N/A
-13.58%
$590,000
$576,000
-2.37%
5.29%
FAIRFIELD 1 Family
9 4
100
6.38%
437
425
-2.75%
$605,000
$617,500
2.07%
$557,500
$587,000
Condo
9
12
33.33%
52
54
3.85%
$390,000
$364,000
-6.67%
$375,063
$329,000 -12.28%
1 20
129
7.50%
554
549
-0.90%
$592,000
$575,000
-2.87%
$522,500
$542,000
3.73%
-1.52% $1,500,000
$1,487,500
-0.83%
$649,000
-0.14%
All Sales
GREENWICH 1 Family
5 1
33
-35.29%
279
202
-27.60%
$1,650,000
$1,625,000
Condo
1 0
11
10.00%
75
74
-1.33%
$659,950
$668,000
7 5
49
-34.67%
418
318
-23.92%
$1,300,000
$1,200,000
1 Family
2 7
25
-7.41%
115
108
-6.09%
$350,000
$315,000
-10.00%
$340,000
$350,500
3.09%
Condo
8
8
0.00%
36
34
-5.56%
$262,500
$221,775
-15.51%
$206,250
$225,000
9.09%
3 8
37
-2.63%
166
162
-2.41%
$342,500
$315,000
-8.03%
$317,500
$326,250
2.76%
46.31% $1,495,000
$1,447,501
-3.18%
All Sales
1.22%
$649,900
-7.69% $1,254,000
$1,107,000 -11.72%
MONROE
All Sales
NEW CANAAN 1 Family
4 3
21
-51.16%
193
132
-31.61%
$1,490,000
$2,180,000
Condo
7
8
14.29%
33
36
9.09%
$845,000
$418,750
5 5
31
-43.64%
250
181
-27.60%
$1,405,000
$1,420,000
18
-18.18%
96
114
18.75%
$319,375
$332,500
0 -100.00%
12
2
-83.33%
$325,417
-23.08%
123
127
3.25%
$319,375
$319,000
All Sales
-50.44%
$840,000
1.07% $1,376,750
$587,500 -30.06% $1,280,000
-7.03%
NEW FAIRFIELD 1 Family
2 2
Condo
3
All Sales
2 6
20
4.11%
$345,450
N/A -100.00%
$268,198
$308,000 -10.84% N/A - 100.00%
-0.12%
$321,000
$302,500
-5.76%
NEWTOWN 1 Family
4 8
28
-41.67%
226
212
-6.19%
$398,000
$406,250
2.07%
$374,950
$372,500
-0.65%
Condo
4
13
225.00%
13
24
84.62%
$373,750
$324,255
-13.24%
$303,500
$320,578
5.63%
6 0
43
-28.33%
271
269
-0.74%
$377,500
$387,500
2.65%
$368,000
$370,000
0.54%
All Sales
24 | THE COMMERCIAL RECORD | SEPTEMBER 2016
Real estate & credit transactions updated every Thursday
www.commercialrecord.com • subscribers only
NUMBER OF SALES JUL 2015
JUL %CHG 2015 2016 15-16 YTD
2016 YTD
MEDIAN PRICE %CHG 15-16
JUL 2015
JUL %CHG 2015 2016 15-16 YTD
2016 %CHG YTD 15-16
NORWALK 1 Family
9 2
64
-30.43%
385
369
-4.16%
$474,000
$451,500
-4.75%
$460,000
$430,000
-6.52%
Condo
3 9
26
-33.33%
197
175
-11.17%
$279,000
$272,000
-2.51%
$260,000
$275,000
5.77%
1 51
105
-30.46%
673
648
-3.71%
$399,999
$394,000
-1.50%
$380,000
$385,000
1.32%
-40.00%
69
71
2.90%
$505,000
$535,000
5.94%
$529,500
$520,000
-1.79%
0
2
All Sales
REDDING 1 Family
1 5
9
Condo
0
0
1 5
10
-33.33%
75
86
All Sales
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
14.67%
$505,000
$520,000
2.97%
$512,500
$515,000
0.49%
$670,000
3.08%
$644,800
$649,900
0.79%
N/A -100.00%
$248,500
$215,000 -13.48%
-1.28%
$592,500
$605,000
2.11%
4.32%
RIDGEFIELD 1 Family
4 4
34
-22.73%
181
176
-2.76%
$650,000
Condo
1 0
2
-80.00%
40
35
-12.50%
$512,500
5 4
40
-25.93%
240
227
-5.42%
$625,000
$617,000
1 Family
4 7
39
-17.02%
186
202
8.60%
$320,000
$325,000
1.56%
$295,000
$307,750
Condo
2 1
24
14.29%
93
86
-7.53%
$311,000
$221,250
-28.86%
$279,000
$225,000 -19.35%
73
-5.19%
325
336
3.38%
$320,000
$300,000
-6.25%
$300,000
$292,250
-2.58%
-75.00%
35
26
-25.71%
$510,000
$342,000
-32.94%
$425,000
$472,500
11.18%
0
0
All Sales
SHELTON
All Sales
7 7
SHERMAN 1 Family
1 2
3
Condo
0
0
1 3
3
-76.92%
40
31
All Sales
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
-22.50%
$435,000
$342,000
-21.38%
$402,500
$435,000
8.07%
STAMFORD 1 Family
9 8
69
-29.59%
388
389
0.26%
$565,500
$561,000
-0.80%
$545,000
$552,000
1.28%
Condo
5 1
60
17.65%
304
365
20.07%
$284,000
$296,000
4.23%
$285,500
$307,500
7.71%
1 81
156
-13.81%
829
939
13.27%
$495,000
$447,750
-9.55%
$417,000
$435,000
4.32%
-2.65%
All Sales
STRATFORD 1 Family
5 4
48
-11.11%
299
319
6.69%
$243,500
$230,750
-5.24%
$226,000
$220,000
Condo
2 0
12
-40.00%
76
86
13.16%
$166,250
$183,700
10.50%
$179,500
$159,450 -11.17%
72
-18.18%
450
497
10.44%
$222,125
$213,750
-3.77%
$215,750
$205,000
-4.98%
$365,000
$356,000
-2.47%
$360,000
$357,000
-0.83%
N/A $322,000
$326,250
1.32%
All Sales
8 8
TRUMBULL 1 Family
7 1
62
-12.68%
225
287
27.56%
Condo
1
7
600.00%
17
22
29.41%
7 8
69
-11.54%
267
319
19.48%
$360,500
$351,000
-2.64%
$352,000
$352,800
0.23%
1 Family
2 8
17
-39.29%
103
84
-18.45%
$930,000
$890,000
-4.30%
$850,000
$795,000
-6.47%
Condo
0
0
0
0
3 1
17
-45.16%
113
86
All Sales
N/A
$291,000
WESTON
All Sales
N/A
N/A
N/A
N/A
-23.89%
$875,000
$890,000
$1,275,000
N/A 1.71%
N/A
N/A
N/A
$835,000
$771,750
-7.57%
7.69% $1,162,500
$1,250,000
7.53%
WESTPORT 1 Family
5 3
25
-52.83%
212
205
-3.30%
$1,184,000
Condo
4
1
-75.00%
18
12
-33.33%
$546,750
6 4
28
-56.25%
266
246
-7.52%
$1,085,500
$1,250,000
1 Family
4 3
30
-30.23%
140
129
-7.86%
$859,000
$674,150
-21.52%
Condo
6
3
-50.00%
21
22
4.76%
$414,000
$225,000
-45.65%
5 0
33
-34.00%
175
160
-8.57%
$857,500
$649,000
All Sales
N/A -100.00%
$636,375
$682,500
7.25%
15.15% $1,057,500
$1,207,500
14.18%
$864,975
$779,000
-9.94%
$387,000
$336,500 -13.05%
-24.31%
$845,000
$719,500 -14.85%
WILTON
All Sales
FAIRFIELD COUNTY 1 Family
1 ,077
792
-26.46% 4,502
4,433
-1.53%
$520,000
$450,000
-13.46%
$478,500
$432,875
-9.54%
Condo
2 73
269
-1.47% 1,388
1,454
4.76%
$275,000
$265,000
-3.64%
$269,450
$254,025
-5.72%
1 ,592 1,254
-21.23% 7,059
7,154
1.35%
$418,000
$374,143
-10.49%
$392,500
$365,000
-7.01%
All Sales
SEPTEMBER 2016 | THE COMMERCIAL RECORD | 25
TRENDLINES
HARTFORD COUNTY SALES REPORT
NUMBER OF SALES JUL 2015
JUL %CHG 2015 2016 15-16 YTD
3 3 2 1 5 7
37 14 54
12.12% -33.33% -5.26%
144 78 241
2 2 5 2 8
17 4 24
-22.73% -20.00% -14.29%
2 5 1 2 3 9
29 8 38
5 6 1 4 8 0
2016 YTD
MEDIAN PRICE %CHG 15-16
JUL 2015
JUL %CHG 2015 2016 15-16 YTD
2016 %CHG YTD 15-16
127 62 203
-11.81% -20.51% -15.77%
$463,000 $220,000 $323,000
$481,500 $285,000 $400,500
4.00% 29.55% 23.99%
$441,750 $205,000 $330,000
$425,000 $194,900 $327,500
-3.79% -4.93% -0.76%
82 31 132
95 26 137
15.85% -16.13% 3.79%
$257,500 $248,000 $251,500
$267,000 $213,450 $245,750
3.69% -13.93% -2.29%
$248,250 $219,900 $246,750
$230,000 $252,000 $231,000
-7.35% 14.60% -6.38%
16.00% -33.33% -2.56%
130 30 176
146 36 203
12.31% 20.00% 15.34%
$174,750 $244,450 $180,000
$180,000 $246,500 $212,500
3.00% 0.84% 18.06%
$179,125 $231,950 $181,000
$170,950 $237,000 $187,500
-4.56% 2.18% 3.59%
56 14 84
0.00% 0.00% 5.00%
252 45 363
303 68 465
20.24% 51.11% 28.10%
$166,000 $106,500 $162,000
$189,250 $89,000 $171,000
14.01% -16.43% 5.56%
$179,000 $103,000 $166,566
$175,000 $99,500 $162,000
-2.23% -3.40% -2.74%
1 5 0 1 6
12 0 14
-20.00% N/A -12.50%
63 0 77
62 2 75
-1.59% N/A -2.60%
$272,000 N/A $297,225
$256,000 -5.88% $303,000 N/A N/A N/A $256,000 -13.87% $297,500
$260,600 -13.99% N/A N/A $261,200 -12.20%
1 0 2 1 5
12 5 19
20.00% 150.00% 26.67%
51 24 89
63 19 93
23.53% -20.83% 4.49%
$460,000 N/A $410,000
$322,450 $150,000 $269,900
-29.90% $319,900 N/A $188,125 -34.17% $284,950
$317,500 -0.75% $153,000 -18.67% $270,000 -5.25%
10 1 13
42.86% 0.00% 62.50%
24 5 35
42 6 55
75.00% 20.00% 57.14%
$246,000 N/A $238,000
$284,500 15.65% $232,950 N/A N/A $92,783 $279,000 17.23% $235,000
$255,000 9.47% $192,788 107.78% $252,000 7.23%
50 2 61
-21.88% -77.78% -29.07%
235 29 336
266 22 372
13.19% -24.14% 10.71%
$135,000 $154,700 14.59% $85,000 -100.00% $132,450 $154,000 16.27%
$135,000 $67,000 $135,000
$148,000 9.63% $140,551 109.78% $143,551 6.33%
7 7 2 1
8 5 19
14.29% -28.57% -9.52%
48 25 92
49 19 92
2.08% -24.00% 0.00%
$156,900 $163,000 $153,500
$227,500 $156,200 $165,000
45.00% -4.17% 7.49%
$160,000 $157,000 $155,900
$202,000 $155,000 $165,000
26.25% -1.27% 5.84%
5 6 1 1 7 0
59 15 77
5.36% 36.36% 10.00%
257 65 355
282 68 394
9.73% 4.62% 10.99%
$176,000 $114,900 $165,500
$173,000 $146,000 $166,000
-1.70% 27.07% 0.30%
$165,000 $137,000 $160,000
$169,150 $131,000 $163,000
2.52% -4.38% 1.88%
20 14 42
11.11% -36.36% -6.67%
111 87 230
138 108 271
24.32% 24.14% 17.83%
$294,900 $197,500 $226,000
$287,000 $190,000 $227,750
-2.68% -3.80% 0.77%
$335,000 $195,000 $275,500
$325,950 $189,077 $265,510
-2.70% -3.04% -3.63%
6 0 2 5 9 3
50 11 67
-16.67% -56.00% -27.96%
211 81 337
256 73 366
21.33% -9.88% 8.61%
$346,250 $169,900 $290,000
$349,000 $217,500 $322,900
0.79% 28.02% 11.34%
$340,000 $175,000 $297,750
$335,000 $170,000 $300,000
-1.47% -2.86% 0.76%
1 3 2 1 7
11 1 14
-15.38% -50.00% -17.65%
72 13 99
85 8 116
18.06% -38.46% 17.17%
$294,900 N/A $294,900
$265,000 -10.14% $277,500 N/A N/A $174,900 $249,000 -15.56% $261,000
$268,000 $214,500 $256,750
-3.42% 22.64% -1.63%
23 7 62
15.00% -41.67% -10.14%
144 69 413
147 68 456
2.08% -1.45% 10.41%
$107,500 $60,000 $107,000
$135,000 $46,000 $142,750
$109,000 $49,950 $116,000
3.81% -9.18% 5.45%
13 0 13
8 0 9
AVON 1 Family Condo All Sales
BERLIN 1 Family Condo All Sales
BLOOMFIELD 1 Family Condo All Sales
BRISTOL 1 Family Condo All Sales
BURLINGTON 1 Family Condo All Sales
CANTON 1 Family Condo All Sales
EAST GRANBY 1 Family Condo All Sales
7 1 8
EAST HARTFORD 1 Family Condo All Sales
6 4 9 8 6
EAST WINDSOR 1 Family Condo All Sales
ENFIELD 1 Family Condo All Sales
FARMINGTON 1 Family Condo All Sales
1 8 2 2 4 5
GLASTONBURY 1 Family Condo All Sales
GRANBY 1 Family Condo All Sales
HARTFORD 1 Family Condo All Sales
2 0 1 2 6 9
25.58% -23.33% 33.41%
$105,000 $55,000 $110,000
HARTLAND 1 Family Condo All Sales
3 0 3
0 -100.00% 0 N/A 0 -100.00%
-38.46% N/A -30.77%
26 | THE COMMERCIAL RECORD | SEPTEMBER 2016
$285,000 N/A $285,000
N/A -100.00% $255,000 N/A N/A N/A N/A -100.00% $255,000
$269,500 5.69% N/A N/A $265,000 3.92%
Real estate & credit transactions updated every Thursday
www.commercialrecord.com • subscribers only
NUMBER OF SALES JUL 2015
JUL %CHG 2015 2016 15-16 YTD
2016 YTD
MEDIAN PRICE %CHG 15-16
JUL 2015
JUL %CHG 2015 2016 15-16 YTD
2016 %CHG YTD 15-16
MANCHESTER 1 Family Condo All Sales
6 9 1 1 8 9
45 5 59
-34.78% -54.55% -33.71%
255 44 359
307 56 457
20.39% 27.27% 27.30%
$167,000 $103,000 $160,000
$172,000 $123,000 $172,000
2.99% 19.42% 7.50%
7 1 8
-58.82% 0.00% -65.22%
51 7 70
43 2 48
44 5 78
22.22% -28.57% 4.00%
191 38 363
41 20 73
-4.65% 100.00% 23.73%
14 4 22
$160,000 $115,000 $155,000
$165,000 $116,000 $163,000
3.13% 0.87% 5.16%
-15.69% -71.43% -31.43%
$306,000 N/A $250,000
$280,000 N/A $247,500
-8.50% $254,900 N/A $203,000 -1.00% $228,500
228 31 425
19.37% -18.42% 17.08%
$126,000 $240,000 $130,000
$134,750 $75,000 $138,000
6.94% -68.75% 6.15%
$125,500 $65,000 $124,900
$133,500 $65,000 $131,500
6.37% 0.00% 5.28%
166 58 255
144 87 263
-13.25% 50.00% 3.14%
$205,900 $119,450 $205,900
$214,900 $138,050 $199,900
4.37% 15.57% -2.91%
$206,450 $137,450 $194,500
$209,000 $135,400 $190,000
1.24% -1.49% -2.31%
-33.33% -42.86% -26.67%
77 28 124
79 30 139
2.60% 7.14% 12.10%
$176,000 $119,000 $146,250
$180,000 $192,744 $187,500
2.27% 61.97% 28.21%
$180,000 $139,750 $176,250
$179,500 -0.28% $124,244 -11.10% $175,000 -0.71%
15 16 33
-11.76% 0.00% -5.71%
72 69 157
73 92 182
1.39% 33.33% 15.92%
$220,000 $177,500 $190,600
$241,000 $132,000 $210,900
9.55% -25.63% 10.65%
$236,750 $157,000 $191,000
$262,500 $162,000 $205,000
10.88% 3.18% 7.33%
35 9 47
-12.50% -10.00% -6.00%
162 42 214
209 46 269
29.01% 9.52% 25.70%
$346,750 $123,000 $320,500
$395,000 13.91% $255,000 107.32% $376,815 17.57%
$326,000 $158,500 $295,000
$318,000 $195,825 $300,000
-2.45% 23.55% 1.69%
25 18 45
-16.67% 12.50% -8.16%
119 52 190
133 64 222
11.76% 23.08% 16.84%
$242,600 $150,000 $230,000
$275,000 $181,300 $240,000
13.36% 20.87% 4.35%
$266,900 $149,950 $240,350
$262,000 $175,300 $240,000
-1.84% 16.91% -0.15%
4 9 1 4 6 7
26 9 41
-46.94% -35.71% -38.81%
189 53 318
211 58 322
11.64% 9.43% 1.26%
$261,200 $226,000 $242,000
$253,750 $145,000 $242,000
-2.85% -35.84% 0.00%
$252,500 $180,000 $227,450
$268,000 6.14% $145,000 -19.44% $237,200 4.29%
1 4 4 2 5
12 3 18
-14.29% -25.00% -28.00%
69 21 119
69 31 128
0.00% 47.62% 7.56%
$305,500 $260,250 $308,000
$363,000 $157,500 $302,000
18.82% -39.48% -1.95%
$293,400 $137,000 $275,000
$300,000 2.25% $162,000 18.25% $239,450 -12.93%
100 20 129
-6.54% -13.04% -12.84%
408 85 542
474 89 628
16.18% 4.71% 15.87%
$310,000 $250,000 $305,000
$317,000 $204,500 $296,500
2.26% -18.20% -2.79%
$300,000 $248,900 $295,000
$305,000 1.67% $196,500 -21.05% $290,000 -1.69%
5 0 2 5 4
43 10 54
-14.00% 400.00% 0.00%
198 28 251
208 26 254
5.05% -7.14% 1.20%
$222,950 N/A $217,750
$223,000 $117,301 $213,750
4 2 7 5 3
27 5 39
-35.71% -28.57% -26.42%
158 29 214
191 42 272
20.89% 44.83% 27.10%
$198,000 $236,900 $199,000
$220,000 $135,000 $191,000
11.11% -43.01% -4.02%
7 3 13
-41.67% 0.00% -18.75%
56 18 93
78 17 121
39.29% -5.56% 30.11%
$157,000 $106,500 $139,500
-12.66% 4,008 -16.42% 1,154 -12.18% 6,257
4,516 1,256 7,037
12.67% 8.84% 12.47%
$219,950 $165,725 $200,000
MARLBOROUGH 1 Family Condo All Sales
1 7 1 2 3
$276,000 8.28% N/A - 100.00% $271,500 18.82%
NEW BRITAIN 1 Family Condo All Sales
3 6 7 7 5
NEWINGTON 1 Family Condo All Sales
4 3 1 0 5 9
PLAINVILLE 1 Family Condo All Sales
2 1 7 3 0
ROCKY HILL 1 Family Condo All Sales
1 7 1 6 3 5
SIMSBURY 1 Family Condo All Sales
4 0 1 0 5 0
SOUTH WINDSOR 1 Family Condo All Sales
3 0 1 6 4 9
SOUTHINGTON 1 Family Condo All Sales
SUFFIELD 1 Family Condo All Sales
WEST HARTFORD 1 Family Condo All Sales
1 07 2 3 1 48
WETHERSFIELD 1 Family Condo All Sales
0.02% $225,800 N/A $141,925 -1.84% $213,000
$225,000 $128,000 $219,950
-0.35% -9.81% 3.26%
$184,500 $150,000 $183,500
$179,500 $151,950 $175,850
-2.71% 1.30% -4.17%
$188,500 20.06% $242,800 127.98% $230,000 64.87%
$155,250 $124,500 $148,000
$164,500 $130,000 $167,500
5.96% 4.42% 13.18%
$230,000 $157,500 $213,500
$212,000 $155,000 $194,000
$217,000 $150,000 $195,000
2.36% -3.23% 0.52%
WINDSOR 1 Family Condo All Sales
WINDSOR LOCKS 1 Family Condo All Sales
1 2 3 1 6
HARTFORD COUNTY 1 Family Condo All Sales
9 56 835 2 74 229 1 ,420 1,247
4.57% -4.96% 6.75%
SEPTEMBER 2016 | THE COMMERCIAL RECORD | 27
TRENDLINES
LITCHFIELD COUNTY SALES REPORT
NUMBER OF SALES JUL 2015
JUL %CHG 2015 2016 15-16 YTD
2016 YTD
MEDIAN PRICE %CHG 15-16
JUL 2015
JUL %CHG 2015 2016 15-16 YTD
2016 %CHG YTD 15-16
BARKHAMSTED 1 Family Condo All Sales
3 0 5
1 0 1
-66.67% N/A -80.00%
24 0 30
20 0 23
-16.67% N/A -23.33%
6 0 9
50.00% N/A 125.00%
18 0 20
19 0 27
5.56% N/A 35.00%
11 1 14
12 0 18
6 0 9
7 0 10
16.67% N/A 11.11%
$285,000 N/A -100.00% $223,750 N/A N/A N/A N/A $205,000 -100.00% $213,750
$253,750 13.41% N/A N/A $257,500 20.47%
$232,500 N/A $232,500
$340,500 46.45% $253,500 N/A N/A N/A $350,000 50.54% $253,500
$265,000 4.54% N/A N/A $226,000 -10.85%
N/A N/A $382,000
N/A N/A $390,000 N/A N/A N/A N/A -100.00% $386,000
$320,000 -17.95% N/A N/A $320,000 -17.10%
N/A N/A N/A
N/A N/A N/A
N/A $250,000 N/A N/A N/A $215,000
$230,000 -8.00% N/A N/A $214,500 -0.23%
BETHLEHEM 1 Family Condo All Sales
4 0 4
BRIDGEWATER 1 Family Condo All Sales
2 1 3
1 -50.00% 0 -100.00% 1 -66.67%
1 0 1
0 -100.00% 0 N/A 0 -100.00%
9.09% -100.00% 28.57%
CANAAN 1 Family Condo All Sales
COLEBROOK 1 Family Condo All Sales
2 0 2
4 0 5
100.00% N/A 150.00%
8 0 10
12 0 13
50.00% N/A 30.00%
N/A N/A N/A
$177,500 N/A $195,000
N/A $165,000 N/A N/A N/A $190,500
$197,250 19.55% N/A N/A $199,500 4.72%
1 0 1
2 0 3
100.00% N/A 200.00%
3 0 8
10 0 15
233.33% N/A 87.50%
N/A N/A N/A
N/A N/A $250,000
N/A $157,000 N/A N/A N/A $63,000
$342,500 118.15% N/A N/A $390,000 519.05%
4 0 4
8 0 9
100.00% N/A 125.00%
30 0 42
28 1 35
-6.67% N/A -16.67%
$365,000 N/A $365,000
$288,500 -20.96% $305,000 N/A N/A N/A $277,000 -24.11% $295,000
$300,000 -1.64% N/A N/A $277,000 -6.10%
10 0 13
150.00% N/A 62.50%
32 0 53
45 1 60
40.63% N/A 13.21%
$224,250 N/A $224,250
$248,000 10.59% $224,250 N/A N/A N/A $240,000 7.02% $195,000
$255,000 13.71% N/A N/A $243,500 24.87%
18 7 30
16 4 31
N/A N/A $312,500
$273,500 N/A $310,000 N/A N/A $165,000 $242,000 -22.56% $295,250
$339,750 $174,950 $291,000
34 5 53
44 6 71
$305,000 $205,000 $287,500
$285,000 -10.31% $231,250 -14.03% $300,000 9.49%
17 0 22
6 0 11
-64.71% N/A -50.00%
$277,500 N/A $270,000
39 4 54
32 5 50
-17.95% 25.00% -7.41%
$291,500 N/A $230,000
$256,600 -11.97% $239,900 N/A N/A $85,375 $214,550 -6.72% $217,500
$227,050 $113,500 $202,500
-5.36% 32.94% -6.90%
23.36% -22.73% 11.16%
$329,900 $134,000 $267,500
$280,000 $124,950 $259,500
$282,000 $124,950 $245,000
-4.41% -0.04% 3.38%
CORNWALL 1 Family Condo All Sales
GOSHEN 1 Family Condo All Sales
HARWINTON 1 Family Condo All Sales
4 0 8
KENT 1 Family Condo All Sales
2 1 6
4 100.00% 0 -100.00% 5 -16.67%
-11.11% -42.86% 3.33%
9.60% 6.03% -1.44%
LITCHFIELD 1 Family Condo All Sales
8 2 1 2
11 3 20
37.50% 50.00% 66.67%
29.41% $232,000 20.00% 33.96% $255,500
31.47% $317,750 N/A $269,000 12.52% $274,000
MORRIS 1 Family Condo All Sales
4 0 5
0 -100.00% 0 N/A 2 -60.00%
N/A -100.00% $250,000 N/A N/A N/A N/A -100.00% $230,171
$267,500 7.00% N/A N/A $194,000 -15.71%
NEW HARTFORD 1 Family Condo All Sales
1 2 2 1 5
12 0.00% 0 -100.00% 14 -6.67%
NEW MILFORD 1 Family Condo All Sales
3 5 8 5 4
37 8 52
5.71% 0.00% -3.70%
137 44 224
169 34 249
4 0 4
2 0 4
-50.00% N/A 0.00%
7 0 10
11 0 17
-15.13% -6.75% -2.99%
$295,000 $125,000 $237,000
NORFOLK 1 Family Condo All Sales
57.14% N/A 70.00%
28 | THE COMMERCIAL RECORD | SEPTEMBER 2016
$197,000 -100.00% $225,000 N/A N/A N/A N/A $197,000 $162,500 -17.51% $199,500
$196,500 -12.67% N/A N/A $185,000 -7.27%
Real estate & credit transactions updated every Thursday
www.commercialrecord.com • subscribers only
NUMBER OF SALES JUL 2015
JUL %CHG 2015 2016 15-16 YTD
2016 YTD
MEDIAN PRICE %CHG 15-16
JUL 2015
JUL %CHG 2015 2016 15-16 YTD
2016 %CHG YTD 15-16
NORTH CANAAN 1 Family
4
2
Condo
0
0
5
2
All Sales
-50.00%
13
19
0
0
-60.00%
22
30
N/A
46.15% N/A
$186,226 N/A
36.36%
$187,452
N/A -100.00% N/A
N/A
N/A -100.00%
$155,000 N/A
$158,800 N/A
2.45% N/A
$170,000
$154,400
-9.18%
13.40%
$161,000
$167,250
3.88%
N/A -100.00%
$137,500
PLYMOUTH 1 Family
1 1
10
-9.09%
53
48
-9.43%
$160,500
Condo
4
2
-50.00%
5
7
40.00%
$146,250
1 7
15
-11.76%
77
72
-6.49%
$155,000
1 Family
5
2
-60.00%
18
20
11.11%
$545,000
Condo
0
0
0
0
6
3
-50.00%
28
29
500.00%
21
25
19.05%
N/A
1
0
-100.00%
N/A
All Sales
$182,000 $150,000
$97,900 -28.80%
-3.23%
$155,000
$155,700
0.45%
N/A -100.00%
$506,500
$497,500
-1.78%
ROXBURY
All Sales
N/A
N/A 3.57%
N/A $541,500
N/A $600,000
N/A 10.80%
N/A $317,500
N/A $450,000
N/A 41.73%
SALISBURY 1 Family
1
6
Condo
0
0
1
9
800.00%
31
31
0.00%
N/A
$295,000
1 Family
1
9
800.00%
25
26
4.00%
N/A
$305,000
Condo
1
0 -100.00%
1
1
0.00%
N/A N/A
All Sales
N/A
$357,500 N/A
N/A $550,000 N/A
N/A
$295,000 -46.36% N/A
N/A
N/A $475,000
$295,000 -37.89%
N/A $420,000
$305,000 -27.38%
SHARON
All Sales
2
9
350.00%
37
37
0.00%
N/A $305,000
N/A
N/A
N/A $300,000
N/A
N/A
$297,500
-0.83%
$215,000
6.78%
THOMASTON 1 Family
9
6
-33.33%
32
27
-15.63%
Condo
1
1
0.00%
6
8
33.33%
1 3
7
-46.15%
48
40
-16.67%
$155,000
$228,000
All Sales
$155,000 N/A
$229,000 N/A
47.74%
$201,350
N/A $122,000
$84,950 -30.37%
47.10%
$189,375
$180,500
-4.69%
$128,000
3.90%
TORRINGTON 1 Family
4 1
31
-24.39%
166
220
32.53%
$132,900
$140,000
5.34%
$123,200
Condo
8
11
37.50%
35
47
34.29%
$78,750
$52,000
-33.97%
$80,000
6 0
55
-8.33%
235
338
43.83%
$124,200
$120,000
-3.38%
$114,900
1 Family
2
3
50.00%
8
14
75.00%
Condo
0
0
0
0
2
3
50.00%
12
19
All Sales
$72,000 -10.00% $119,000
3.57%
WARREN
All Sales
N/A
N/A 58.33%
N/A $1,875,000
N/A $255,000
N/A
N/A
N/A
N/A $1,875,000
N/A
N/A $245,000
$567,500 122.55% N/A $270,000
N/A 10.20%
WASHINGTON 1 Family
6
9
50.00%
30
35
16.67%
Condo
1
0 -100.00%
5
0
-100.00%
42.86%
49
45
-8.16%
$437,500
$881,250 101.43%
$469,000
$475,000
1.28%
$182,500
-19.02%
$199,950
$186,850
-6.55%
N/A -100.00%
$145,000
$140,000
-3.45% -2.44%
All Sales
7
10
$716,250 N/A
$575,000 N/A
-19.72%
$691,250
N/A $255,000
$500,000 -27.67% N/A -100.00%
WATERTOWN 1 Family
2 8
29
3.57%
140
132
-5.71%
$225,375
Condo
3
2
-33.33%
13
15
15.38%
$142,000
3 3
43
30.30%
189
186
-1.59%
$216,000
$176,000
-18.52%
$185,000
$180,478
11
-8.33%
54
61
12.96%
$168,500
$160,000
-5.04%
$135,000
$147,000
8.89%
0 -100.00%
5
7
40.00%
$49,900
$69,000
38.28%
26.39%
$150,000
$159,950
6.63%
$129,250
$134,500
4.06% 37.29%
All Sales
WINCHESTER 1 Family
1 2
Condo
1
All Sales
1 5
12
-20.00%
72
91
N/A
N/A
N/A
WOODBURY 1 Family
7
5
-28.57%
42
44
4.76%
$270,000
$542,000 100.74%
$260,000
$356,950
Condo
1 2
2
-83.33%
32
18
-43.75%
$77,500
N/A -100.00%
$100,000
$130,000
30.00%
9
-60.87%
93
82
-11.83%
$145,000
$205,000
41.38%
$230,000
$287,500
25.00%
All Sales
2 3
LITCHFIELD COUNTY 1 Family
2 13
221
3.76%
986
1,102
11.76%
$225,750
$234,900
4.05%
$221,625
$215,000
-2.99%
Condo
4 5
29
-35.56%
164
154
-6.10%
$124,840
$115,000
-7.88%
$116,250
$107,000
-7.96%
3 08
315
2.27% 1,472
1,630
10.73%
$205,500
$200,000
-2.68%
$195,000
$186,750
-4.23%
All Sales
SEPTEMBER 2016 | THE COMMERCIAL RECORD | 29
TRENDLINES
MIDDLESEX COUNTY SALES REPORT
NUMBER OF SALES JUL 2015
JUL %CHG 2015 2016 15-16 YTD
2016 YTD
MEDIAN PRICE %CHG 15-16
JUL 2015
JUL %CHG 2015 2016 15-16 YTD
2016 %CHG YTD 15-16
CHESTER 1 Family Condo All Sales
7 0 7
4 0 5
2 1 1 2 2
15 6 25 13 14 32
-42.86% N/A -28.57%
31 1 35
28 0 31
-9.68% -100.00% -11.43%
$345,000 N/A $345,000
$247,563 -28.24% $345,000 N/A N/A N/A $245,000 -28.99% $325,000
$265,250 -23.12% N/A N/A $250,125 -23.04%
-28.57% 500.00% 13.64%
95 9 115
98 21 145
3.16% 133.33% 26.09%
$280,000 N/A $270,500
$183,000 $144,000 $180,000
-34.64% $255,000 N/A $131,000 -33.46% $248,000
$265,000 $155,000 $235,000
3.92% 18.32% -5.24%
18.18% 16.67% 18.52%
55 68 147
67 78 167
21.82% 14.71% 13.61%
$222,000 $170,000 $180,000
$290,000 $146,250 $168,500
30.63% -13.97% -6.39%
$228,900 $135,250 $180,000
$255,000 $135,950 $167,000
11.40% 0.52% -7.22%
5 2 7
4 -20.00% 0 -100.00% 4 -42.86%
21 5 29
34 4 42
61.90% -20.00% 44.83%
$215,000 N/A $208,000
$222,450 N/A $222,450
3.47% $239,000 N/A $144,950 6.95% $230,000
$242,250 $132,300 $234,950
1.36% -8.73% 2.15%
1 2 1 1 3
9 -25.00% 0 -100.00% 11 -15.38%
26 3 35
46 3 54
76.92% 0.00% 54.29%
$309,500 N/A $304,000
$300,000 N/A $300,000
-3.07% $325,000 N/A $220,000 -1.32% $304,000
$308,750 -5.00% $99,900 -54.59% $286,500 -5.76%
14 0 15
-12.50% N/A -42.31%
56 4 82
61 2 74
8.93% -50.00% -9.76%
$248,500 N/A $212,000
$228,130 N/A $191,259
-8.20% $232,500 N/A $136,000 -9.78% $210,250
$249,900 7.48% N/A - 100.00% $230,000 9.39%
2 4 2 2 7
14 2 19
-41.67% 0.00% -29.63%
85 15 110
86 6 113
1.18% -60.00% 2.73%
$265,000 N/A $265,000
$291,200 N/A $267,500
9.89% $245,400 N/A $129,000 0.94% $235,000
7 2 1 0
4 1 6
-42.86% -50.00% -40.00%
30 8 52
43 12 64
43.33% 50.00% 23.08%
$525,000 N/A $512,500
$281,250 -46.43% $406,250 N/A N/A $224,250 $303,750 -40.73% $363,500
$312,500 -23.08% $221,250 -1.34% $284,000 -21.87%
1 0 0 1 4
10 0 14
0.00% N/A 0.00%
46 0 65
71 0 82
54.35% N/A 26.15%
$215,750 N/A $208,450
$260,000 20.51% $270,500 N/A N/A N/A $238,750 14.54% $252,500
$255,000 -5.73% N/A N/A $247,500 -1.98%
5 0 6
-44.44% N/A -33.33%
39 0 44
50 0 54
28.21% N/A 22.73%
$400,000 N/A $400,000
$415,000 N/A $398,750
$325,000 -14.47% N/A N/A $325,000 -15.03%
25 3 34
23 4 36
-8.00% 33.33% 5.88%
$302,500 N/A $252,500
$247,963 -18.03% $240,000 N/A N/A $197,500 $249,900 -1.03% $237,500
$249,900 $198,450 $241,763
4.13% 0.48% 1.79%
-39.13% -36.84% -37.66%
180 64 278
174 76 301
-3.33% 18.75% 8.27%
$212,500 $104,500 $175,000
$233,500 $113,000 $181,250
9.88% 8.13% 3.57%
$191,700 $116,000 $169,950
$214,000 $106,500 $170,000
11.63% -8.19% 0.03%
19 -9.52% 0 -100.00% 23 -23.33%
103 13 135
74 9 117
-28.16% -30.77% -13.33%
$360,000 $307,825 $347,500
$363,000 0.83% N/A -100.00% $363,000 4.46%
$355,000 $325,650 $336,000
$350,000 $350,000 $335,800
-1.41% 7.48% -0.06%
12 9.09% 0 -100.00% 14 -17.65%
52 12 77
59 9 90
13.46% -25.00% 16.88%
$182,000 $150,000 $182,000
$251,500 38.19% N/A -100.00% $251,500 38.19%
$198,500 $161,250 $189,000
$229,000 $195,000 $221,000
15.37% 20.93% 16.93%
CLINTON 1 Family Condo All Sales
CROMWELL 1 Family Condo All Sales
1 1 1 2 2 7
DEEP RIVER 1 Family Condo All Sales
DURHAM 1 Family Condo All Sales
EAST HADDAM 1 Family Condo All Sales
1 6 0 2 6
EAST HAMPTON 1 Family Condo All Sales
$252,500 $232,500 $257,000
2.89% 80.23% 9.36%
ESSEX 1 Family Condo All Sales
HADDAM 1 Family Condo All Sales
KILLINGWORTH 1 Family Condo All Sales
9 0 9
3.75% $380,000 N/A N/A -0.31% $382,500
MIDDLEFIELD 1 Family Condo All Sales
6 1 8
8 33.33% 0 -100.00% 9 12.50%
MIDDLETOWN 1 Family Condo All Sales
4 6 1 9 7 7
28 12 48
OLD SAYBROOK 1 Family Condo All Sales
2 1 6 3 0
PORTLAND 1 Family Condo All Sales
1 1 3 1 7
30 | THE COMMERCIAL RECORD | SEPTEMBER 2016
Real estate & credit transactions updated every Thursday
www.commercialrecord.com • subscribers only
NUMBER OF SALES JUL 2015
JUL %CHG 2015 2016 15-16 YTD
MEDIAN PRICE
2016 YTD
%CHG 15-16
4 1 17
29 3 50
625.00% 200.00% 194.12%
-21.74% 848 -30.00% 206 -21.48% 1,255
943 227 1,420
11.20% 10.19% 13.15%
JUL 2015
JUL %CHG 2015 2016 15-16 YTD
2016 %CHG YTD 15-16
$160,000 N/A $215,000 N/A N/A N/A $160,000 118.58% $5,000
$295,000 37.21% $382,000 N/A $257,750 5055.00%
$257,000 $133,000 $232,450
$260,000 $134,600 $230,000
WESTBROOK 1 Family Condo All Sales
1 1 4
3 200.00% 0 -100.00% 3 -25.00%
N/A N/A $73,200
MIDDLESEX COUNTY 1 Family Condo All Sales
2 07 5 0 2 98
162 35 234
$265,000 $141,500 $229,500
-3.02% -6.01% 1.29%
$251,000 $136,500 $230,000
3.59% -1.39% 0.00%
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SEPTEMBER 2016 | THE COMMERCIAL RECORD | 31
TRENDLINES
NEW HAVEN COUNTY SALES REPORT
NUMBER OF SALES JUL 2015
JUL %CHG 2015 2016 15-16 YTD
2016 YTD
MEDIAN PRICE %CHG 15-16
JUL 2015
JUL %CHG 2015 2016 15-16 YTD
2016 %CHG YTD 15-16
ANSONIA 1 Family Condo All Sales
1 6 1 2 9
14 1 22
-12.50% 0.00% -24.14%
70 1 120
90 3 134
28.57% 200.00% 11.67%
$162,450 N/A $169,900
$217,500 33.89% $164,250 N/A N/A N/A $184,750 8.74% $150,500
$178,000 $135,000 $168,250
8.37% N/A 11.79%
5 1 7
4 2 8
-20.00% 100.00% 14.29%
26 9 44
29 10 50
11.54% 11.11% 13.64%
$205,000 N/A $205,000
$177,025 -13.65% $220,000 N/A N/A $124,000 $177,025 -13.65% $220,000
$221,000 0.45% $377,247 204.23% $238,450 8.39%
7 0 7
5 0 7
-28.57% N/A 0.00%
21 0 23
26 0 29
23.81% N/A 26.09%
$370,000 N/A $370,000
$235,000 -36.49% $350,000 N/A N/A N/A $234,000 -36.76% $350,000
$318,750 -8.93% N/A N/A $288,880 -17.46%
BEACON FALLS 1 Family Condo All Sales
BETHANY 1 Family Condo All Sales
BRANFORD 1 Family Condo All Sales
2 2 2 5 6 1
17 12 39
-22.73% -52.00% -36.07%
112 110 275
127 93 257
13.39% -15.45% -6.55%
$310,500 $132,500 $186,000
$275,000 $154,000 $244,500
-11.43% 16.23% 31.45%
$315,250 $147,775 $225,000
$297,500 $152,000 $220,000
-5.63% 2.86% -2.22%
4 1 8 5 0
22 7 31
-46.34% -12.50% -38.00%
174 38 231
155 40 225
-10.92% 5.26% -2.60%
$275,000 $152,500 $253,500
$357,000 $125,000 $312,000
29.82% -18.03% 23.08%
$323,750 $150,000 $278,000
$310,000 $167,750 $285,000
-4.25% 11.83% 2.52%
6 4 1 8
7 2 11
16.67% -50.00% -38.89%
45 24 89
46 24 103
2.22% 0.00% 15.73%
$170,500 $148,500 $148,450
$225,000 31.96% N/A -100.00% $211,000 42.14%
$161,000 $129,750 $132,000
$185,950 $130,750 $160,400
15.50% 0.77% 21.52%
24 12 41
-4.00% 71.43% 17.14%
147 48 217
160 56 243
8.84% 16.67% 11.98%
$185,000 $225,000 $196,000
$211,788 $174,750 $200,000
$174,000 $121,500 $170,000
$173,000 $139,000 $173,000
-0.57% 14.40% 1.76%
4 1 2 4 7
32 2 35
-21.95% 0.00% -25.53%
145 18 186
159 19 201
9.66% 5.56% 8.06%
$340,000 N/A $345,000
$369,500 N/A $362,500
5 3 1 0 7 3
67 10 84
26.42% 0.00% 15.07%
262 60 363
312 66 430
19.08% 10.00% 18.46%
$205,000 $120,500 $183,000
$207,000 $155,000 $197,500
$201,500 $122,000 $180,000
$197,500 $112,500 $182,750
-1.99% -7.79% 1.53%
2 8 1 3 3
26 -7.14% 0 -100.00% 26 -21.21%
137 11 166
150 11 179
9.49% 0.00% 7.83%
$387,000 N/A $300,000
$399,000 3.10% $400,000 N/A N/A $245,000 $399,000 33.00% $399,950
$404,000 $245,000 $379,600
1.00% 0.00% -5.09%
7 6 1 1 1 05
42 12 65
-44.74% 9.09% -38.10%
259 60 406
309 89 496
19.31% 48.33% 22.17%
$145,750 $78,750 $137,000
$178,450 $93,500 $159,900
22.44% 18.73% 16.72%
$150,000 $93,925 $135,000
$152,000 1.33% $80,000 -14.83% $131,250 -2.78%
1 4 3 2 1
5 3 13
-64.29% 0.00% -38.10%
45 10 75
39 11 75
-13.33% 10.00% 0.00%
$324,500 $330,000 $277,000
$247,500 $462,500 $462,500
-23.73% 40.15% 66.97%
$303,000 $330,000 $300,000
$275,000 $450,000 $305,000
-9.24% 36.36% 1.67%
6 8 1 7 9 8
47 20 75
-30.88% 17.65% -23.47%
273 94 421
302 99 469
10.62% 5.32% 11.40%
$289,950 $173,000 $284,500
$297,500 $241,500 $272,000
2.60% 39.60% -4.39%
$260,000 $177,750 $247,000
$276,500 $175,000 $260,000
6.35% -1.55% 5.26%
32 3 40
23.08% -57.14% -6.98%
160 35 235
178 28 245
11.25% -20.00% 4.26%
$159,950 $59,000 $132,000
$152,500 $90,000 $166,250
-4.66% 52.54% 25.95%
$154,000 $60,150 $135,000
$163,100 $66,150 $149,900
5.91% 9.98% 11.04%
CHESHIRE 1 Family Condo All Sales
DERBY 1 Family Condo All Sales
EAST HAVEN 1 Family Condo All Sales
2 5 7 3 5
14.48% -22.33% 2.04%
GUILFORD 1 Family Condo All Sales
8.68% $350,000 N/A $231,750 5.07% $345,000
$340,000 -2.86% $117,000 -49.51% $326,000 -5.51%
HAMDEN 1 Family Condo All Sales
0.98% 28.63% 7.92%
MADISON 1 Family Condo All Sales
MERIDEN 1 Family Condo All Sales
MIDDLEBURY 1 Family Condo All Sales
MILFORD 1 Family Condo All Sales
NAUGATUCK 1 Family Condo All Sales
2 6 7 4 3
32 | THE COMMERCIAL RECORD | SEPTEMBER 2016
Real estate & credit transactions updated every Thursday
www.commercialrecord.com • subscribers only
NUMBER OF SALES JUL 2015
JUL %CHG 2015 2016 15-16 YTD
MEDIAN PRICE
2016 YTD
%CHG 15-16
JUL 2015
JUL %CHG 2015 2016 15-16 YTD
2016 %CHG YTD 15-16
$189,000 $173,000 $194,000
$182,500 $178,000 $179,000
-3.44% 2.89% -7.73%
$170,000 $120,000 $155,875
$180,000 $129,000 $160,000
5.88% 7.50% 2.65%
NEW HAVEN 1 Family Condo All Sales
4 3 1 9 9 7
40 17 102
-6.98% -10.53% 5.15%
187 93 496
213 79 578
13.90% -15.05% 16.53%
15 25.00% 0 -100.00% 15 -6.25%
52 14 74
70 14 90
34.62% 0.00% 21.62%
$277,500 N/A $252,450
$265,000 N/A $265,000
-4.50% $275,000 N/A $161,450 4.97% $243,500
$257,000 $155,000 $247,750
-6.55% -4.00% 1.75%
NORTH BRANFORD 1 Family Condo All Sales
1 2 2 1 6
NORTH HAVEN 1 Family Condo All Sales
2 8 2 3 5
23 2 31
-17.86% 0.00% -11.43%
131 9 158
141 15 191
7.63% 66.67% 20.89%
$279,700 N/A $263,500
$278,000 N/A $278,000
-0.61% $255,900 N/A $233,300 5.50% $257,950
$262,500 $228,000 $258,000
2.58% -2.27% 0.02%
1 9 2 2 5
13 -31.58% 0 -100.00% 18 -28.00%
70 5 90
86 3 109
22.86% -40.00% 21.11%
$352,000 N/A $395,000
$425,700 20.94% $338,450 N/A N/A $467,689 $427,350 8.19% $358,700
$343,000 $580,500 $372,200
1.34% 24.12% 3.76%
1 1 1 1 4
10 4 22
-9.09% 300.00% 57.14%
47 13 86
65 18 111
38.30% 38.46% 29.07%
$402,000 N/A $346,000
$337,500 $359,950 $348,195
$325,000 $370,000 $345,000
8.33% -1.33% -4.30%
9 1 10
0.00% -75.00% -37.50%
59 6 80
51 22 83
-13.56% 266.67% 3.75%
$285,000 $384,050 $331,000
$322,000 12.98% N/A -100.00% $338,500 2.27%
$262,000 $359,500 $275,000
$271,000 $366,505 $310,000
3.44% 1.95% 12.73%
13 2 18
-23.53% -71.43% -37.93%
83 19 123
91 21 135
9.64% 10.53% 9.76%
$212,000 $150,000 $185,000
$240,000 13.21% N/A -100.00% $180,000 -2.70%
$220,000 $121,000 $205,000
$212,500 -3.41% $95,000 -21.49% $180,000 -12.20%
27 29 58
35.00% 20.83% 13.73%
82 110 217
120 138 279
46.34% 25.45% 28.57%
$385,000 $108,500 $240,000
$325,000 $130,000 $190,750
-15.58% 19.82% -20.52%
$350,500 $122,250 $185,000
$325,000 $125,500 $195,500
-7.28% 2.66% 5.68%
56 11 81
27.27% -45.00% 10.96%
182 72 297
233 68 360
28.02% -5.56% 21.21%
$271,250 $202,500 $250,000
$244,663 $197,000 $240,000
-9.80% -2.72% -4.00%
$248,000 $170,750 $227,500
$239,000 $165,500 $230,000
-3.63% -3.07% 1.10%
63 17 105
1.61% -34.62% -23.91%
320 134 648
385 112 700
20.31% -16.42% 8.02%
$93,250 $40,750 $74,950
$100,000 $48,000 $85,000
7.24% 17.79% 13.41%
$96,700 $42,750 $75,750
$100,000 $54,750 $86,000
3.41% 28.07% 13.53%
38 11 65
0.00% 0.00% 6.56%
188 44 295
220 52 353
17.02% 18.18% 19.66%
$180,500 $69,909 $157,000
$169,950 $106,000 $169,500
-5.84% 51.63% 7.96%
$154,900 $77,100 $150,000
$156,500 $102,500 $157,000
1.03% 32.94% 4.67%
14 2 18
-6.67% 100.00% -10.00%
89 10 110
85 8 113
-4.49% -20.00% 2.73%
$204,000 N/A $207,000
$218,750 N/A $215,000
7.23% $189,000 N/A $220,950 3.86% $188,250
$215,000 13.76% $173,000 -21.70% $202,500 7.57%
15 0 15
-34.78% N/A -37.50%
72 0 79
66 0 71
-8.33% N/A -10.13%
$435,000 N/A $408,000
$430,000 N/A $430,000
-1.15% $379,500 N/A N/A 5.39% $378,000
$352,000 -7.25% N/A N/A $352,000 -6.88%
-11.57% 3,438 -15.74% 1,047 -13.95% 5,604
3,908 1,099 6,309
$230,000 $122,000 $195,000
$230,000 $141,250 $210,000
0.00% 15.78% 7.69%
$215,000 $130,000 $190,000
ORANGE 1 Family Condo All Sales
OXFORD 1 Family Condo All Sales
-16.04% $300,000 N/A $375,000 0.63% $360,498
PROSPECT 1 Family Condo All Sales
9 4 1 6
SEYMOUR 1 Family Condo All Sales
1 7 7 2 9
SOUTHBURY 1 Family Condo All Sales
2 0 2 4 5 1
WALLINGFORD 1 Family Condo All Sales
4 4 2 0 7 3
WATERBURY 1 Family Condo All Sales
6 2 2 6 1 38
WEST HAVEN 1 Family Condo All Sales
3 8 1 1 6 1
WOLCOTT 1 Family Condo All Sales
1 5 1 2 0
WOODBRIDGE 1 Family Condo All Sales
2 3 0 2 4
NEW HAVEN COUNTY 1 Family Condo All Sales
7 69 680 2 16 182 1 ,226 1,055
13.67% 4.97% 12.58%
$215,000 $124,000 $184,375
0.00% 4.84% 3.05%
SEPTEMBER 2016 | THE COMMERCIAL RECORD | 33
TRENDLINES
NEW LONDON COUNTY SALES REPORT
NUMBER OF SALES JUL 2015
JUL %CHG 2015 2016 15-16 YTD
MEDIAN PRICE
2016 YTD
%CHG 15-16
JUL 2015
15 0 20
16 0 19
6.67% N/A -5.00%
$136,500 N/A $136,500
JUL %CHG 2015 2016 15-16 YTD
2016 %CHG YTD 15-16
BOZRAH 1 Family Condo All Sales
3 0 5
2 0 2
-33.33% N/A -60.00%
N/A -100.00% $172,500 N/A N/A N/A N/A -100.00% $187,500
$180,000 4.35% N/A N/A $180,000 -4.00%
COLCHESTER 1 Family Condo All Sales
1 9 4 2 9
13 3 19
-31.58% -25.00% -34.48%
86 15 117
112 11 137
30.23% -26.67% 17.09%
$255,000 $153,500 $240,000
$235,000 $103,000 $230,000
-7.84% -32.90% -4.17%
$218,000 $155,000 $210,000
$235,000 $205,000 $230,000
7.80% 32.26% 9.52%
26 8 41
-27.78% 166.67% -18.00%
115 35 205
120 33 190
4.35% -5.71% -7.32%
$314,250 $144,000 $292,000
$285,000 $206,250 $281,500
-9.31% 43.23% -3.60%
$296,900 $185,000 $245,000
$277,000 $179,000 $266,500
-6.70% -3.24% 8.78%
EAST LYME 1 Family Condo All Sales
3 6 3 5 0
FRANKLIN 1 Family Condo All Sales
2 0 5
3 0 3
50.00% N/A -40.00%
9 0 17
13 0 16
44.44% N/A -5.88%
N/A N/A $612,000
$212,500 N/A $214,000 N/A N/A N/A $212,500 -65.28% $214,000
$212,500 -0.70% N/A N/A $206,250 -3.62%
1 3 0 1 4
5 0 8
-61.54% N/A -42.86%
36 4 51
34 6 63
-5.56% 50.00% 23.53%
$255,000 N/A $246,500
$175,000 -31.37% $174,500 N/A N/A $83,450 $106,178 -56.93% $164,700
$117,000 -32.95% $99,950 19.77% $99,900 -39.34%
3 2 1 1 5 0
20 6 31
128 53 209
161 28 233
25.78% -47.17% 11.48%
$275,750 $148,000 $225,128
$241,000 $123,950 $210,000
$230,000 $124,500 $198,000
6 0 8
10 0 11
66.67% N/A 37.50%
40 0 53
44 0 53
10.00% N/A 0.00%
$185,450 N/A $134,950
$158,750 -14.40% $192,500 N/A N/A N/A $162,500 20.41% $175,000
$170,000 -11.69% N/A N/A $162,500 -7.14%
2 3 1 2 5
30 1 36
30.43% 0.00% 44.00%
111 6 128
138 8 163
24.32% 33.33% 27.34%
$195,000 N/A $195,000
$196,500 N/A $192,750
$199,500 1.79% $46,000 -45.24% $192,500 -0.52%
5 0 8
5 0 6
0.00% N/A -25.00%
24 0 36
24 0 37
0.00% N/A 2.78%
$243,000 N/A $164,000
$230,000 -5.35% $176,500 N/A N/A N/A $184,500 12.50% $166,500
2 0 2
0 -100.00% 0 N/A 0 -100.00%
11 0 18
17 0 26
54.55% N/A 44.44%
N/A N/A N/A
GRISWOLD 1 Family Condo All Sales
GROTON 1 Family Condo All Sales
-37.50% -45.45% -38.00%
-12.60% -16.25% -6.72%
$250,128 $120,000 $200,000
-8.05% 3.75% -1.00%
LEBANON 1 Family Condo All Sales
LEDYARD 1 Family Condo All Sales
0.77% $196,000 N/A $84,000 -1.15% $193,500
LISBON 1 Family Condo All Sales
$188,950 7.05% N/A N/A $169,900 2.04%
LYME 1 Family Condo All Sales
N/A N/A N/A
N/A $525,000 N/A N/A N/A $537,500
$440,000 -16.19% N/A N/A $415,000 -22.79%
MONTVILLE 1 Family Condo All Sales
2 6 1 2 8
15 2 24
-42.31% 100.00% -14.29%
88 5 109
99 4 132
12.50% $182,950 $205,000 -20.00% 21.10% $176,450 $202,500
12.05% $180,000 N/A $46,001 14.76% $175,000
$183,000 $57,000 $175,500
1.67% 23.91% 0.29%
16 5 36
-11.11% 150.00% 33.33%
104 20 181
84 24 187
-19.23% $130,000 20.00% 3.31% $130,000
15.38% $147,000 N/A $87,450 5.38% $132,000
$145,000 $116,000 $130,000
-1.36% 32.65% -1.52%
45 0 59
43 0 58
119 23 191
126 32 214
NEW LONDON 1 Family Condo All Sales
1 8 2 2 7
$150,000 $92,500 $137,000
NORTH STONINGTON 1 Family Condo All Sales
1 6 0 1 9
7 0 9
2 5 5 3 2
17 5 33
-56.25% N/A -52.63%
-4.44% N/A -1.69%
$197,870 N/A $206,740
$225,000 13.71% $216,000 N/A N/A N/A $225,000 8.83% $225,000
$240,000 11.11% N/A N/A $235,000 4.44%
5.88% 39.13% 12.04%
$125,000 $94,900 $116,500
$155,000 $95,000 $127,000
$128,150 28.15% $103,700 -10.92% $114,250 14.25%
NORWICH 1 Family Condo All Sales
-32.00% 0.00% 3.13%
34 | THE COMMERCIAL RECORD | SEPTEMBER 2016
24.00% 0.11% 9.01%
$100,000 $116,407 $100,000
Real estate & credit transactions updated every Thursday
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NUMBER OF SALES JUL 2015
JUL %CHG 2015 2016 15-16 YTD
2016 YTD
MEDIAN PRICE %CHG 15-16
JUL 2015
$265,000
JUL %CHG 2015 2016 15-16 YTD
2016 %CHG YTD 15-16
OLD LYME 1 Family
1 1
1
Condo
0
1
1 1
4
1 Family
5
2
Condo
0
0
8
2
1 Family
3
1
Condo
0
0
4
4
1 Family
5
5
Condo
0
0
5
6
16
All Sales
-90.91%
70
43
-38.57%
3
4
33.33%
-63.64%
96
61
-36.46%
$265,000
-60.00%
36
29
-19.44%
$284,500
0
0
-75.00%
50
39
-22.00%
$237,250
N/A -100.00%
$200,500
$210,000
4.74%
-66.67%
24
19
-20.83%
$205,000
N/A -100.00%
$272,000
$285,000
4.78%
2
2
0.00%
0.00%
33
30
-9.09%
$180,000
$210,500
16.94%
$260,000
$169,000 -35.00%
0.00%
14
19
35.71%
$220,000
$220,000
0.00%
$211,000
$190,000
0
0
20.00%
19
23
21.05%
$220,000
$208,000
-5.45%
$220,000
$172,000 -21.82%
-44.83%
115
96
-16.52%
$375,000
$407,500
8.67%
$308,000
$322,000
0 -100.00%
18
7
-61.11%
N/A
N/A
N/A -100.00% N/A $298,255
$414,500
N/A $410,000
$340,000 -17.97% $252,500 -38.41%
12.55%
$390,000
$340,000 -12.82%
N/A -100.00%
$197,450
$220,000
PRESTON
All Sales
N/A
N/A
N/A
N/A
N/A
N/A
N/A
11.42% N/A
SALEM
All Sales
N/A
N/A
N/A
N/A
N/A
N/A
N/A
SPRAGUE
All Sales
N/A
N/A
N/A
N/A
N/A
N/A
N/A
-9.95% N/A
STONINGTON 1 Family
2 9
Condo
2
All Sales
3 8
N/A
N/A
N/A $421,000
4.55%
$295,000 -29.93%
21
-44.74%
163
161
-1.23%
$370,750
$370,000
-0.20%
$299,000
$285,000
-4.68%
0.00%
13
27
107.69%
$170,000
$187,500
10.29%
$180,000
$165,000
-8.33%
0
0
-25.00%
14
32
VOLUNTOWN 1 Family
3
3
Condo
0
0
4
3
All Sales
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
128.57%
$190,000
$187,500
-1.32%
$191,000
$149,950 -21.49%
WATERFORD 1 Family
3 3
33
0.00%
159
176
10.69%
$285,000
$215,000
-24.56%
$230,000
$215,000
-6.52%
Condo
4
3
-25.00%
30
26
-13.33%
$204,200
$164,500
-19.44%
$128,250
$145,750
13.65%
4 2
41
-2.38%
215
229
6.51%
$248,200
$205,000
-17.41%
$220,400
$198,000 -10.16%
-26.98% 1,362
All Sales
NEW LONDON COUNTY 1 Family
3 15
230
Condo
3 3
34
4 14
340
All Sales
1,440
5.73%
$230,000
$215,000
-6.52%
$215,000
$209,000
214
185
-13.55%
$148,000
$136,500
-7.77%
$145,500
$130,000 -10.65%
-17.87% 1,984
2,103
6.00%
$217,000
$195,200
-10.05%
$198,000
$187,000
3.03%
-2.79% -5.56%
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SEPTEMBER 2016 | THE COMMERCIAL RECORD | 35
TRENDLINES
TOLLAND COUNTY SALES REPORT
NUMBER OF SALES JUL 2015
JUL %CHG 2015 2016 15-16 YTD
MEDIAN PRICE
2016 YTD
%CHG 15-16
JUL 2015
JUL %CHG 2015 2016 15-16 YTD
2016 %CHG YTD 15-16
ANDOVER 1 Family Condo All Sales
0 0 1
4 0 4
N/A N/A 300.00%
15 0 21
23 0 29
53.33% N/A 38.10%
N/A N/A N/A
2 0 4
8 0 9
300.00% N/A 125.00%
25 0 32
33 0 39
32.00% N/A 21.88%
9 0 9
28.57% N/A 28.57%
43 0 51
40 0 43
17 1 20
-15.00% N/A -20.00%
80 3 112
1 2 6 2 6
14 3 24
16.67% -50.00% -7.69%
1 3 0 1 5
21 0 23
1 1 5 2 1 1 3 1 1 6
$192,075 N/A $192,075
N/A $194,900 N/A N/A N/A $190,000
$249,000 27.76% N/A N/A $237,000 24.74%
N/A N/A $155,000
$307,500 N/A $240,000 N/A N/A N/A $290,000 87.10% $223,000
$255,000 6.25% N/A N/A $250,000 12.11%
-6.98% N/A -15.69%
$230,000 N/A $230,000
$215,000 N/A $215,000
$201,200 -10.58% N/A N/A $199,900 -11.16%
76 7 112
-5.00% 133.33% 0.00%
$209,000 N/A $210,000
$170,000 -18.66% $205,000 N/A N/A $116,600 $206,000 -1.90% $204,575
$194,068 $107,900 $200,000
62 15 102
62 13 105
0.00% -13.33% 2.94%
$259,750 $188,700 $248,250
$257,500 $98,000 $196,345
$232,450 -1.09% $115,000 -10.16% $227,500 -3.19%
61.54% N/A 53.33%
53 0 63
82 2 92
$284,000 N/A $281,000
$259,000 N/A $259,000
17 6 27
54.55% 20.00% 28.57%
52 15 84
78 31 126
50.00% 106.67% 50.00%
$212,000 $118,000 $204,000
$230,000 8.49% $302,610 156.45% $231,000 13.24%
14 1 17
7.69% 0.00% 6.25%
47 1 66
57 5 74
21.28% 400.00% 12.12%
$375,000 N/A $351,000
$275,000 -26.67% $282,900 N/A N/A N/A $265,000 -24.50% $267,450
$280,000 $349,900 $278,500
-1.03% N/A 4.13%
1 3 3 2 2
10 1 13
-23.08% -66.67% -40.91%
65 12 99
59 7 104
-9.23% -41.67% 5.05%
$157,500 $70,000 $100,050
$219,625 39.44% N/A -100.00% $215,250 115.14%
$208,000 $125,000 $167,750
22.35% 27.55% 7.15%
1 6 1 1 8
14 1 16
-12.50% 0.00% -11.11%
72 4 85
86 7 107
19.44% 75.00% 25.88%
$314,000 N/A $308,000
$236,500 -24.68% $271,500 N/A N/A $142,250 $219,500 -28.73% $253,000
$230,750 -15.01% $80,000 -43.76% $230,500 -8.89%
2 0 2
3 0 3
6 0 9
4 0 4
$199,000 N/A $199,000
$196,250 -6.32% N/A N/A $196,250 36.28%
3 1 1 5 5 4
34 6 50
9.68% -60.00% -7.41%
133 57 224
142 42 223
6.77% -26.32% -0.45%
3 -57.14% 0 -100.00% 3 -62.50%
32 3 42
16 0 22
-50.00% -100.00% -47.62%
685 110 990
758 114 1,080
10.66% 3.64% 9.09%
BOLTON 1 Family Condo All Sales
COLUMBIA 1 Family Condo All Sales
7 0 7
-6.52% $225,000 N/A N/A -6.52% $225,000
COVENTRY 1 Family Condo All Sales
2 0 0 2 5
-5.33% -7.46% -2.24%
ELLINGTON 1 Family Condo All Sales
-0.87% -48.07% -20.91%
$235,000 $128,000 $235,000
HEBRON 1 Family Condo All Sales
54.72% N/A 46.03%
-8.80% $290,000 N/A N/A -7.83% $290,000
$252,000 -13.10% N/A N/A $237,250 -18.19%
MANSFIELD 1 Family Condo All Sales
$220,500 $127,000 $202,000
$217,000 -1.59% $270,045 112.63% $230,000 13.86%
SOMERS 1 Family Condo All Sales
STAFFORD 1 Family Condo All Sales
$170,000 $98,000 $156,550
TOLLAND 1 Family Condo All Sales
UNION 1 Family Condo All Sales
50.00% N/A 50.00%
-33.33% N/A -55.56%
N/A N/A N/A
N/A $209,500 N/A N/A N/A $144,000
VERNON 1 Family Condo All Sales
$217,000 $106,000 $171,750
$179,950 $109,875 $154,500
-17.07% 3.66% -10.04%
$173,900 $106,000 $155,000
$175,450 $104,658 $160,000
0.89% -1.27% 3.23%
$178,000 N/A $173,950
$140,000 -21.35% $205,250 N/A N/A $107,000 $140,000 -19.52% $189,950
$182,250 -11.21% N/A - 100.00% $194,750 2.53%
$230,000 $114,950 $210,000
$217,500 $132,500 $208,000
$215,125 $132,250 $205,000
WILLINGTON 1 Family Condo All Sales
7 1 8
TOLLAND COUNTY 1 Family Condo All Sales
1 47 3 2 2 19
168 19 218
14.29% -40.63% -0.46%
36 | THE COMMERCIAL RECORD | SEPTEMBER 2016
-5.43% 15.27% -0.95%
$219,000 $113,950 $200,000
-1.77% 16.06% 2.50%
TRENDLINES
WINDHAM COUNTY SALES REPORT
NUMBER OF SALES JUL 2015
JUL %CHG 2015 2016 15-16 YTD
MEDIAN PRICE
2016 YTD
%CHG 15-16
JUL 2015
JUL %CHG 2015 2016 15-16 YTD
2016 %CHG YTD 15-16
ASHFORD 1 Family Condo All Sales
7 0 1 0
3 0 7
-57.14% N/A -30.00%
19 0 27
21 0 31
10.53% N/A 14.81%
$195,000 N/A $154,000
$97,500 -50.00% $167,000 N/A N/A N/A $125,000 -18.83% $165,000
$175,000 4.79% N/A N/A $162,900 -1.27%
-61.11% 0.00% -51.72%
72 2 96
65 3 94
-9.72% 50.00% -2.08%
$140,000 N/A $164,700
$235,000 67.86% $167,350 N/A N/A N/A $177,500 7.77% $159,750
$195,000 $229,000 $178,000
BROOKLYN 1 Family Condo All Sales
1 8 1 2 9
7 1 14
16.52% N/A 11.42%
CANTERBURY 1 Family Condo All Sales
4 0 9
5 0 11
25.00% N/A 22.22%
24 0 35
28 0 45
16.67% N/A 28.57%
$157,500 N/A $185,000
$175,000 11.11% $170,500 N/A N/A N/A $186,000 0.54% $170,000
$215,250 26.25% N/A N/A $185,500 9.12%
3 0 3
4 0 5
33.33% N/A 66.67%
14 0 16
13 0 19
-7.14% N/A 18.75%
$154,000 N/A $154,000
$268,000 74.03% $157,000 N/A N/A N/A $268,000 74.03% $149,500
$169,900 8.22% N/A N/A $153,900 2.94%
2 0 2
0.00% N/A -66.67%
7 0 16
10 0 18
42.86% N/A 12.50%
N/A N/A $250,000
N/A N/A $195,000 N/A N/A N/A N/A -100.00% $215,000
$205,500 5.38% N/A N/A $180,000 -16.28%
1 0 2
-50.00% N/A -33.33%
6 0 13
12 0 26
100.00% N/A 100.00%
N/A N/A $194,000
N/A N/A $220,000 N/A N/A N/A N/A -100.00% $194,000
$197,000 -10.45% N/A N/A $123,200 -36.49%
20.00% -66.67% 11.76%
68 13 114
95 7 142
39.71% -46.15% 24.56%
$197,950 $43,000 $143,500
$159,100 -19.63% N/A -100.00% $170,299 18.68%
13 18.18% 0 -100.00% 18 5.88%
63 2 102
70 1 101
11.11% -50.00% -0.98%
$135,000 N/A $130,900
$169,900 25.85% $140,900 N/A N/A N/A $173,450 32.51% $135,450
$135,000 -4.19% N/A N/A $135,000 -0.33%
25.00% N/A -33.33%
19 0 38
26 0 42
$128,000 N/A $128,000
$270,000 110.94% $285,000 N/A N/A N/A $292,500 128.52% $193,750
$251,500 -11.75% N/A N/A $235,000 21.29%
-12.50% 50.00% -21.43%
38 9 68
51 22 102
$134,400 $239,900 $134,400
$145,000 -8.52% $161,250 -7.86% $134,700 -12.23%
0 -100.00% 0 N/A 1 -66.67%
11 0 16
13 0 15
7 75.00% 0 -100.00% 9 50.00%
26 2 41
30 1 42
1 5 1 2 1
19 26.67% 0 -100.00% 20 -4.76%
53 2 80
9 0 1 6
15 0 20
CHAPLIN 1 Family Condo All Sales
EASTFORD 1 Family Condo All Sales
2 0 6
HAMPTON 1 Family Condo All Sales
2 0 3
KILLINGLY 1 Family Condo All Sales
1 0 3 1 7
12 1 19
$145,100 $120,000 $134,950
$150,000 $139,000 $148,900
3.38% 15.83% 10.34%
PLAINFIELD 1 Family Condo All Sales
1 1 1 1 7
POMFRET 1 Family Condo All Sales
4 0 9
5 0 6
8 2 1 4
7 3 11
36.84% N/A 10.53%
PUTNAM 1 Family Condo All Sales
34.21% $152,500 144.44% 50.00% $185,000
-11.87% $158,500 N/A $175,000 -27.35% $153,475
SCOTLAND 1 Family Condo All Sales
2 0 3
18.18% N/A -6.25%
N/A N/A $75,000
N/A N/A $132,900 N/A N/A N/A N/A -100.00% $131,400
$172,000 29.42% N/A N/A $172,000 30.90%
15.38% -50.00% 2.44%
$224,950 N/A $224,950
$215,000 -4.42% $170,700 N/A N/A N/A $198,000 -11.98% $142,900
$193,250 13.21% N/A N/A $175,500 22.81%
79 3 98
49.06% 50.00% 22.50%
$225,000 N/A $199,900
$194,000 -13.78% $190,000 N/A N/A N/A $189,500 -5.20% $170,000
$182,500 $139,900 $176,000
-3.95% N/A 3.53%
65 3 112
77 4 110
18.46% 33.33% -1.79%
$75,000 N/A $87,500
$138,000 84.00% $120,800 N/A N/A $106,500 $128,105 46.41% $111,000
$140,000 $119,950 $129,750
15.89% 12.63% 16.89%
25.00% -66.67% 16.67%
52 7 78
56 7 96
7.69% 0.00% 23.08%
$175,300 $154,500 $166,500
$269,000 53.45% N/A -100.00% $265,000 59.16%
$208,450 $154,500 $176,800
$272,000 $140,000 $210,375
30.49% -9.39% 18.99%
3.60% -50.00% -8.29%
537 40 852
646 48 981
20.30% 20.00% 15.14%
$170,000 $134,700 $160,000
$190,000 $157,000 $182,500
$165,000 $136,050 $149,900
$165,575 $139,950 $156,000
0.35% 2.87% 4.07%
STERLING 1 Family Condo All Sales
4 1 6
THOMPSON 1 Family Condo All Sales
WINDHAM 1 Family Condo All Sales
66.67% N/A 25.00%
WOODSTOCK 1 Family Condo All Sales
1 2 3 1 8
15 1 21
WINDHAM COUNTY 1 Family Condo All Sales
1 11 1 2 1 81
115 6 166
11.76% 16.56% 14.06%
SEPTEMBER 2016 | THE COMMERCIAL RECORD | 37
FAIRFIELD COUNTY GOSSIP REPORT
1
WESTPORT
2
NEW CANAAN
3
GREENWICH
ADDRESS: 34 Owenoke Park, Westport PRICE: $4,400,000 SIZE: 4,569 square feet on 1 acre BUYER: Adam Smith and Melanie D. Smith SELLER: 34 Owenoke Park LLC Agent: Coldwell Banker Riverside SOLD: 6/17/16
ADDRESS: 51 Lambert Road, New Canaan
ADDRESS: 12 Long View Ave, Greenwich
PRICE: $3,975,000
PRICE: $3,900,000
SIZE: 8,407 square feet on 3.94 acres
SIZE: 5,696 square feet on 0.31 acres
BUYER: James R. Schaefer and Joni D. Schaefer
BUYER: Derek Harvey and Megan Harvey
SELLER: Herbert F. Aspbury and Mary V. Aspbury
SELLER: Element 12 Long View
ADDRESS: 19 Meadow Drive, Greenwich
AGENT: William Pitt Sothebys
SOLD: 7/18/16
PRICE: $3,900,000
SOLD: 7/21/16
4
GREENWICH
SIZE: 1,215 square feet on 2.1 acres BUYER: Meadow Drive LLC SELLER: Wam Rock Ridge LLC SOLD: 7/21/16
5
NEW CANAAN
ADDRESS: 50 Chichester Road, New Canaan PRICE: $3,625,000 SIZE: 7,240 square feet on 1.13 acres
4 3
5 2
BUYER: Angela M. Aman and Jedidiah Gaetz SELLER: 50 Chichester LLC SOLD: 7/19/16
1
The custom-built, stone and shingle house in this month’s No. 2 spot has five bedrooms, six baths, a three-car attached garage and nearly 4 acres of land. Built in 2004, it is just off the Merritt Parkway and steps from Five Mile River. The rambling home has a long circular driveway leading to the attached garage and the quarter-sawn oak front door. Inside there are wide pine floors, high ceilings, crown moldings and an elegant kitchen with a breakfast nook.
38 | THE COMMERCIAL RECORD | SEPTEMBER 2016
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