BRANFORD, CT-An unnamed local investor doing business as Squire Hill Associates LLC purchased the Squire Hill Apartments from Squire Hill LLC, another local investor for $6 million. Squire Hill Apartments was built in 1972 and contains 72 rental apartments in four detached masonry and frame buildings. The complex features 24 efficiency units of approximately 500 sf and 48 one-bedroom/one-bath units that total about 800 sf.
Steven Witten and Victor Nolletti of the New Haven office of Marcus & Millichap were the sole brokers in the sale. Witten says that the property was on the market for about a week before a deal was struck. "We hit the number they wanted," Witten says, adding that the buyers found the property attractive due to its low density and its location on the shoreline of Long Island Sound.
The complex at 175 Brushy Plain Rd. is located about a quarter mile off exit 54 of Interstate 95. The seller was represented by attorney Chris Cody of Cody & Gonillo LLP of Milford, while the buyer was represented by Alphonse Ippolito of Fasano, Ippolito & Lee of New Haven.
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