Steven Witten and Victor Nolletti of the New Haven-based brokerage firm represented the seller in the transaction, Seventy Sixty Mix LP. The new owner of the 98-unit luxury rental apartment complex is Sutton-Mix Avenue LLC which was represented by Sheehan Properties of Milford. The seller also utilized the legal services of Carl Porto Sr. and Carl Porto Jr. of Parrett, Porto, Parese & Colwell of Hamden.

According to Witten, the property was sold with development rights for two additional four-story buildings totaling 128 units. Sutton Towers Apartments, which was built in 1967, is located on more than 13 acres of land at 760 Mix Ave.

The tower building contains four two-bedroom penthouse units that range from 1,120 sf to 1,620 sf, 15 studio units that run from 390 sf to 515 sf, 24 two-bedroom units that total 1,100 sf to 1,150 sf and 55 one-bedroom units that feature anywhere from 750 sf to 800 sf.

Marcus & Millichap officials say the property has long been considered one of New Haven County's top luxury rental housing developments. The property was attractive to sellers due to Hamden's tight supply of rental housing stock and the significant barriers that exist for new construction projects.

The development rights for the additional rental housing at the site would involve the addition of 52 one-bedroom units and 76 two-bedroom apartments.

Marcus & Millichap also report that they recently closed on the sale of 165 units of rental housing in East Haven for $16.5 million, 340 units in Groton for $13.4 million and 172 units in Ledyard for $7.85 million.