Crocker House in New London sells for $7.4 million

The Crocker House in New London pictured on April 29, 2011. (Tim Cook/The Day)
The Crocker House in New London pictured on April 29, 2011. (Tim Cook/The Day)

New London — The landmark Crocker House Apartments building downtown sold Wednesday for $7.4 million.

The Old Lyme-based firm Hamilton Point Investments, which purchased the building for $5.55 million in December 2014, announced the sale late Wednesday afternoon. The building at 180 State St. has 82 units, Chrissy S. Martel of Hamilton Point Investments said when reached by phone Wednesday evening.

On Thursday, Martel said the building was 96 percent occupied at the time of the sale. She said the firm sold the property to "a private New York buyer."

Officials in the New London City Clerk's office on Thursday afternoon said they did not yet have the documents from the sale.

"We liked the property a lot," Hamilton Point Investments co-founder Matt Sharp said in the news release announcing the sale. "However, Connecticut's economic prospects have worsened in recent years. Locking in a nice profit and getting out was for sure the right thing to do."

The real estate investment company owns and manages multifamily apartment properties. To date it has completed more than 65 real estate investments for a total of 12,500 units worth about $1.1 billion, it said in the release.

READER COMMENTS

Loading comments...
Hide Comments