APRIL 2016
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REAL ESTATE & FINANCIAL NEWS FOR CONNECTICUT
THE
Technology ISSUE Together We Can: FIs Share Information To Combat Skimmers
Smart Home Technology Makes Life Simpler, Easier For Owners And Tenants
New Technology Analyzes Price Appreciation At Street Level Co-Working Space Innovate Hartford The First Step In City’s Reinvention
APRIL 2016 | THE COMMERCIAL RECORD | 1
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inside The Commercial Record’s Technology Issue Even as social scientists observe the isolating effects of technology, Connecticut’s developers, lenders and marketers are using it to draw people together. In Hartford, the Stilts Building’s mezzanine is set to become Innovate Hartford, a co-working space designed to put the city on the map. Across the state, financial institutions are sharing information to break barriers and combat crime. And entrepreneurs are finding innovative ways to make everything a little easier. Together the state’s brightest minds are using today’s technology to create tomorrow’s world.
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Skimming Off The Top The conversion to EVM cards has resulted in an uptick in skimming attacks at ATMs and gas pumps nationwide. Law enforcement officials urge increased security efforts, while regulators urge increased communication.
10 New Economy A new co-working space in the Stilts Building aims to turn downtown Hartford into a tech hub.
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14 Total Home Automation Automation makes life easier – and safer – for homeowners and tenants, as they control security, utilities and amenities from their smartphones.
18 Real Estate Coach New technology from Case-Schiller co-creator Allan Weiss analyzes price appreciation at the property level, paving the way for highly specific investment advice.
20 Special Section: NEFMA Awards The New England Financial Marketing Association celebrates the best campaigns of the year.
22 Chicken & Egg In the future of banking, what comes first: The bank’s marketing strategy or its branch design?
24 Special Section: Top Lenders Unique to The Commercial Record, the annual top achievers in number of loans and loan volume for credit unions, banks and mortgage companies.
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news roundup
12 state statistics 16 c-changes 17 in person 30 top commercial transactions 32 trendlines 46 gossip report
APRIL 2016 | THE COMMERCIAL RECORD | 3
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from the editor
CLARION CALL FOR INTERNS
I
t’s that time of the year again. No, not the longed-for return of warm weather; not the leading edge of the spring market; not even tax time. It’s intern season. Though we’re currently caught in winter’s last unhappy gasp, in a few short weeks our fine institutions of higher learning will open their doors and release a stream of students into the workforce. All of them will be eager to gain experience and exposure in the workforce. Mid-semester is peak summer internship hunting season and internship coordinators across the city have an inbox full of appeals to prove it. Despite – or perhaps because of – the decades-long tolling of our death knell, today’s journalism and communications majors remain eager to experience a print newsroom. The emails are coming fast and furious, a half-dozen or more every day – although actually, most of them come in overnight. The waning edge of the Millennial generation appears to be full of night owls. Can we talk about resumes for a minute? Really, who is telling these students that, after three years of college, it’s ok for them to have a two- or even three-page resume?
There are industry professionals working on their third decade of experience who don’t have three-page resumes. Length of resumes aside, one thing is certain: there will be at least one, probably two, interns in the B&T newsroom this summer. The Warren Group takes its internships quite seriously and often has several in the office throughout the year. All earn academic credit from their various institutions; all are highly valued and well taught. An internship, done right, is far more than just a foot in the door: Exposure to careers in a student’s field of study can point them to the path they will follow for the rest of their working lives. Equally as important, it can show them the paths they do not want to take. As the season of the intern kicks into high gear, if you currently have an internship program in place, give it a quick review and get it out there so the students can find you. If you don’t have one, consider setting one up. The rewards for students are legion,
but the rewards for the company and staff should not be discounted. The time, effort and energy it takes to educate an intern can seem daunting and unnecessary. But watching them learn so enthusiastically about the industries we love balances the labor of education. And if you can, consider a paid internship. If all you can offer is academic credit, that’s better than nothing, but academic internships often favor those who need them least – those who have outside financial assistance. Even a part-time paid internship can go a long way in the education of those who could not otherwise afford the opportunity. As we look forward in anticipation of the return of spring and summer, consider taking on an intern or two this year. You will be a part of the blossoming of a young woman or man’s career, and the difference you make will be immeasurable. n
Cassidy Murphy Editorial Director Email: cmurphy@thewarrengroup.com
APRIL 2016 | THE COMMERCIAL RECORD | 5
Skimming Off The Top
AS FIS MOVE TO EMV, ATM SKIMMERS STEP UP THEIR GAME Law Enforcement Urges Banks, Credit Unions To Share Intel
past year, particularly in Connecticut, Massachusetts and New Hampshire. “One of the biggest increases we’re seeing is in what we like to call the softer target locations,” he told the Commercial Record. “Traditionally, the skimming devices have been at financial institutions, but we’re now seeing an uptick in placement of these devices at ATMs in convenience stores, hotels, resorts, ski lodges.” “Skimming” refers to the attachment of electronic devices on or around an ATM or point-of-sale system to deal data from the magnetic strip of the card. One of the most common skimming devices attaches to the card reader at the entrance to the ATM kiosk and coordinates with a pinhole-sized camera strategically placed to capture an unwitting consumer’s PIN. But as bankers wise up to skimming techniques, the criminals in question have been responding with smaller, sleeker devices that are not necessarily visible to the naked eye. For instance, Solomon said that law enforcement has found the skimming devices placed on gas pumps placed inside the machine. Those devices are Bluetoothenabled, so the thief doesn’t even have to open up the machine to extract the card data it’s been collecting. The response, so far, is fairly low-tech: a seal placed across the machine so that consumers and gas station owners can tell when it’s been tampered with.
(Felonious) Child’s Play
BY LAURA ALIX | COMMERCIAL RECORD STAFF
A
s financial institutions make the switch to EMV-enabled cards, skimming attacks on ATMs and gas pumps are ramping up nationwide, prompting law enforcement to advise bankers to double down on their security efforts. Recently, the Connecticut Financial Crimes Task Force, in conjunction with the state’s consumer protection agency, has inspected hundreds of gas stations statewide and recovered a handful of skimming de-
vices, said Detective Mark Solomon, of the Greenwich Police Department. Solomon, who works with the task force, said that law enforcement has seen a definite uptick in skimming attacks over the
6 | THE COMMERCIAL RECORD | APRIL 2016
The problem isn’t confined to New England. Solomon said skimming is on the rise nationwide, and Bob Stockwell, chief technology officer at Stanley Security, would agree. Stockwell said he attributes it to younger, would-be cybercriminals cutting their teeth on an easy target. “We see this as a junior cybercrime play,” he said. “It’s a simple enough task that a high school kid with rudimentary computer skills can pull off. And it’s a younger offender. They are getting more organized, and those the ones that really concern us. It’s very much a younger crowd and it’s a pretty easy play.” But Solomon said many of those skimming scammers are foreign to the United States, although sometimes they are American. He said he’s also seen an uptick in the
involvement of younger adults or minors in these crimes, and he attributes that to the perception that those who get caught will face less severe penalties than an adult would. He also said that criminals may be reacting to America’s delayed adoption of chip-and-PIN technology, making one last concerted push to nab what they can while banks and credit unions are still switching over to EMV. That’s not to suggest EMV is invulnerable to thievery. Because EMV-enabled cards do still have magnetic stripes, thieves can steal that card data, too. They just have to be careful about where they deploy it, often preferring large retail purchases online or older ATMs not yet enabled with EMV. Stockwell said the market has responded to the rise in skimming where it can. “We’re seeing physical skimming where somebody is putting something over the read head itself. That’s the most prevalent one, the device that goes right over the card slot,” Stockwell said. “We know that when you put something over the card reader, the ambient light changes inside the machine where the reader is.”
“
One of the biggest increases we’re seeing is in what we like to call the softer target locations. Traditionally, the skimming devices have been at financial institutions, but we’re now seeing an uptick in placement of these devices at ATMs in convenience stores, hotels, resorts, ski lodges.”— Detective Mark Solomon, Greenwich Police Department, Connecticut Financial Crimes Task Force
In response, he said, some companies have manufactured a device that sits inside the ATM and detects changes in the ambient light in the card reader. That can then alert the machine – and ultimately the bank – that the machine has been tampered with and can signal it to shut down in response. In the meantime, Solomon advises vigilance and intelligence sharing on the part of financial institutions. That seems to be the best method of stopping these schemes in their tracks – even when those skimmers
are placed on privately owned ATMs in convenience stores or hotel lobbies. “A lot of these are being detected by financial institutions that see a common point of compromise,” he said. “Obviously, the best thing is intelligence sharing between law enforcement and financial institutions. That has lead to a lot of identification of a number of skimming incidents and has lead to the arrest of individuals, so that partnership is very important.” n Email: lalix@thewarrengroup.com
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APRIL 2016 | THE COMMERCIAL RECORD | 7
NEWS ROUNDUP ION BANK RECOGNIZES EMPLOYEE WITH SARF AWARD
WINNRESIDENTIAL PROMOTES KUPPENS TO HEAD NORTHEAST John Kuppens has been promoted from a senior vice president to executive vice president of Boston-based WinnResidential for the Northeast Region. In his new role, Kuppens will oversee management operations throughout Connecticut, New Hampshire, Rhode Island and parts of Massachusetts and New York. This portfolio includes more than 140 properties, totaling almost 14,000 apartment units and more than 760 condominium units, as well as commercial spaces. Kuppens has been with WinnCompanies for over 20 years.
DEEP RIVER RETAIL PROPERTY SELLS, GYM TO BE ADDED Ion Bank has awarded its top annual customer service commendation to Web Developer Wayne Work. The bank’s SARF Award (Safety & Security, Accuracy, Responsiveness and Friendly, Personalized Service) is distributed every quarter to an employee to best exemplifies the bank’s service standards. An annual award recipient is also chosen from the quarterly group of winners. Work has been with the company for 17 months. “A focus on the customer and providing outstanding customer service are fundamental features of the bank’s service standards,” Charles J. Boulier III, Ion Bank president and CEO, said in a statement
STAMFORD PODIATRIST SENTENCED FOR INSURANCE FRAUD A Stamford podiatrist has been sentenced for submitting false heath insurance claims. Mira Mantoura receieved three years of probation, 200 hours of community service and a fine totaling $618,000 – three times the amount of money she stole. On Oct. 5, 2015, Mantoura pleaded guilty to one count of making a false statement to the Medicare program, which allegedly occurred from 2009 to 2013. Mantoura has been excluded from the Medicare program and will no longer be permitted to submit federal health care claims.
A retail building in downtown Deep River has sold for $405,000. The property at 190 Main St. totals 6,424 square feet and contains Deep River Cleaners, soon to be joined by Anytime Fitness. The buyer is J & J Haddam LLC and the seller is Kleban Holding Company V LLC. Anytime Fitness is owned by Jeffrey Merriam, the principal in the transaction. Kristin Geenty of The Geenty Group represented the seller. Franchise Real Estate of Minnesota was the agent for Anytime Fitness.
THE MOST VIEWED ARTICLES IN MARCH • • • • • •
Glastonbury Man Sentenced For Avoiding Transaction Reports Litchfield Man Sentenced For Real Estate Fraud Conspiracies Former Pastor Gets Five Years For His Role In Fraud Scheme FedEx Purchases Middletown Property To Develop Distribution Hub Defunct Woodbury Restaurant Purchased, To Be Rebranded Norcom Mortgage Expands To Torrington
8 | THE COMMERCIAL RECORD | APRIL 2016
• Trumbull Luxury Apartments Fetch $70.25M • Former East Haven Zoning Official Sentenced For Seeking And Receiving Illegal Payments • Single-Family Sales Jump 24.9 Percent In January • Liberty Bank Acquires 85K SF In Middletown
EVENTS CONNECTICUT COMPANIES WIN $25K IN FIRST PHASE OF SOLAR COMPETITION The Connecticut Green Bank and its partners were recently awarded $25,000 as winners of the first phase of the SunShot Prize: Race to 7-Day Solar, a national competition aimed at reducing the time it takes to “go solar” across the country. The competition is sponsored by the U.S. Department of Energy SunShot Initiative. The bank partnered with Eversource Energy, UIL Holding Corp.’s electric subsidiary the United Illuminating Co. and a group of solar installers and municipalities that formed the Connecticut Permit to Plug-In team. The Connecticut Green Bank funded the solar project and it cost $45,000. The team reduced average solar system interconnection times by 20 days and installed one megawatt (MW) of solar photovoltaic cells in participating municipalities between the competition’s launch and January 2016. The team aims to reduce installation times and complete projects in less than two months through a data-driven approach to gauge the success of different strategies. The Connecticut Permit to Plug-in team aims to install 3 MW by March 2016 to win an additional $50,000. The competition concludes on March 17, 2017, at which time the grand prize is $3 million.
MID-YEAR MORTGAGE UPDATE The Warren Group June 16, 2016 Radisson Hotel, Cromwell Who should attend: Mortgage professionals More information: www.midyearmortgage.com or midyearmortgage@thewarrengroup.com
STATE AWARDS $28M TO SUPPORT AFFORDABLE HOUSING The state recently awarded approximately $28 million to support the development of affordable housing across Connecticut as part of the latest round of funding under the state’s Competitive Housing Assistance for Multifamily Properties (CHAMP) program. The awards will go toward creating, rehabilitating or preserving approximately 200 units of affordable housing and focus on expanding access to transit-oriented development, developing new veteran’s housing units and adding supportive housing for those who are living with disabilities. “Affordable housing is key to creating vibrant communities that attract families, workers, businesses and private investments. Access to housing helps boost competitiveness, attracts business and builds our economy,” Gov. Dannel P. Malloy said in a statement. The CHAMP program, administered by the Connecticut Department of Housing, provides developers and owners of multifamily affordable housing financing to create more affordable units in their developments.
LITCHFIELD MAN SENTENCED FOR REAL ESTATE FRAUD CONSPIRACIES A Litchfield resident was recently sentenced for his role in multiple fraud conspiracies involving a series of real estate transactions intended to shield assets from creditors. Ryan Geddes was sentenced to 30 months of imprisonment, followed by three years of supervised release. According to the trial, Geddes was in debt in late 2005 and was the subject of numerous lawsuits and collection efforts over the next few years. In November 2005, Geddes engaged in a bank fraud conspiracy involving the sale of a Morris home to Thomas Provenzano, who falsely reported his income and employment on a mortgage application. The loan was refinanced in November 2006 under similar false information and is now in default and the Morris property is under foreclosure. Geddes, Provenzano and others conspired to commit mail and wire fraud between December 2009 and January 2010 when they discussed defrauding a title insurance company. The individuals attempted the scheme on Geddes’ Litchfield property. Liens were omitted from the title search report and Geddes arranged a straw transfer in March 2010. Geddes also arranged to transfer another property in Old Forge, New York to Dustin Whitten. In March 2011, the men obtained a home insurance policy in Whitten’s name. After the property was destroyed in a fire, Whitten sought a claim on the property and falsely represented himself as the owner. The claim was denied, and Geddes has admitted the scheme’s intention was to shield the insurance proceeds from his creditors. Geddes has been ordered to pay $703,698.70 in restitution
APRIL 2016 | THE COMMERCIAL RECORD | 9
New Economy
INNOVATION CENTERS REDEFINE WORKSPACE MODELS Landlords, Industry Partner With Startups
BY STEVE ADAMS | COMMERCIAL RECORD STAFF
O
ne of Hartford’s most architecturally distinct office towers, 20 Church St. has a roster that’s dominated by traditional office tenants such as law firms and financial companies. Despite an occupancy rate topping 90 percent and no major lease expirations in sight, landlord Ben Schlossberg isn’t complacent about the local commercial real estate market. To Schlossberg, the glassy cube, known locally as the “Stilts Building” because of its exposed support beams, is the perfect location for a tech incubator that could put Hartford on the map for entrepreneurs looking for a dynamic co-working environment. “That is a strategic location and I’ve always had a belief that Hartford could turn into
something else,” said Schlossberg, managing member of Brooklyn, New York-based Shelbourne Global Solutions. “Every city has to fight over their future. No one is safe, and whoever will bring in technology has a future.” Schlossberg’s sister Shana, a tech industry veteran who runs a New York City-based startup called EZBZ, is spearheading efforts to convert 20 Church St.’s 27,000-square-foot mezzanine level into a collaborative workspace called Innovate Hartford. The facility
10 | THE COMMERCIAL RECORD | APRIL 2016
would have shared office space for up to 300 members and 44 startups, and host events for local networking and entrepreneurship groups. Shelbourne Global Solutions acquired a controlling interest in 20 Church St. for $17.8 million in July 2014, in its first Hartford investment. It followed up with a $36.9 million purchase of 100 Pearl St. in May 2015. Ben Schlossberg said he’s bullish on Hartford’s potential to reinvent itself as a tech hub, given recent changes in the downtown area. Hundreds of apartments opened last year in converted commercial buildings such as the former Sonesta Hotel and 777 Main St., bringing more street life and full-time residents to the city core. Hartford is tapping into higher education connections, with con-
Mezzanine space at 20 Church St. in downtown Hartford would be converted into a co-working space and tech hub under plans being developed by New York City entrepreneur Shana Schlossberg. struction of the University of Connecticut’s new $140-million satellite campus under way at the former Hartford Times building and Trinity College acquiring 200 Constitution Plaza for an urban campus extension. “We’ve been here for a few years and we see the trends,” Schlossberg said. “We’re preparing for more residential units and more people moving to downtown. The city will be more vibrant and you won’t be able to recognize Hartford.” Shana Schlossberg, a tech industry veteran now working on her second startup venture, had no connections to Hartford before her brother’s company began acquiring real estate in the capital city. She was looking into opening a robotics and wearables lab in New York before considering 20 Church St. as a less expensive alternative that could offer “first-tier services at second-tier city prices.” The multimillion-dollar buildout is in the construction planning phase. Schlossberg is raising money from private investors, including Adam Lazowski, CEO of Hartford-based LAZ Parking. Memberships would be offered a monthly basis, while startups could rent office space in bi-annual commitments. “The pain point of the city in Hartford is people graduate and leave,” she said. “My goal is how to create something that would make these graduates stay and open businesses in their own city.”
research centers funded by such companies as United Technologies, Pratt & Whitney and Eversource that paid $2 million to $25 million apiece upfront. Scientific instrument maker FEI Co. and UConn are investing $20 million in highend electron microscopes that can be used in advanced manufacturing, life science and medical device applications. Eversource, for its part, will open a research lab to develop advanced storm damage models to limit power outages. Science researchers Batelle recommended that the center give priority to academicindustry collaborations in fields such as advanced manufacturing, pharmaceuticals and biotech where both the university and Connecticut industries have strong profiles. There are 13 smaller tech companies competing for the remaining 35,000 square feet, said Lawrence Silbart, UConn’s vice provost
for strategic initiatives. Those that have the best fit with the university’s programs will be selected. Some of the new companies will be graduating out of UConn’s Tech Incubator program, which has locations in Storrs, Farmington and the Avery Point campus in Groton. The financial model will be similar to the incubator’s, in which tenants generally pay $1 per square foot for a minimum one-year lease. “We’re going to see how much space is left over after we’ve made the commitments, and fit them in based upon how heavily they tie into the university,” Silbart said. “We’re not running this like a real estate asset where we’re trying to rent space and cover our mortgage. We’re going to fit them in based upon how heavily they tie into the university.” n Email: sadams@thewarrengroup.com
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A New Center In Storrs For Tech Partnerships In Storrs, the University of Connecticut and local industry are partnering on a new innovation center that could benefit earlystage companies. UConn’s $100-million new Innovation Partnership Building (IPB) is under construction after receiving an infusion of funding including commitments from 10 Connecticut companies. The first phase of a larger 900,000-square-foot Tech Park complex, the IPB building will give Connecticut startups access to advanced research equipment. Approximately two-thirds of the 113,000-square-foot will be occupied by 10
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APRIL 2016 | THE COMMERCIAL RECORD | 11
STATE STATISTICS 10-year Single-Family Sales More than $1 Million
Top 5 Credit Unions Market Share: All Mortgages
300 American Eagle FCU | 2016 Rank: 1 | 2015 Rank:1
NUMBER OF SALES
22.87%
200 26.52%
Charter Oak Fed Cr Un | 2016 Rank: 2 | 2015 Rank: 2
100
15.97%
11.39%
0
Sikorsky Fncl CU Inc | 2016 Rank: 3 | 2015 Rank: 3
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 *Statistics include sales January-February - All Years Source: The Warren Group
7.65%
Condo Sales by Price Range 7.10%
1,200 $700K+ $500k-$699k $400k-$499k
1,000
$300k-$399k $150k-$299k $10K-$149k
NUMBER OF SALES
CT State Emp FCU | 2016 Rank: 4 | 2015 Rank: 5
6.21%
800
4.48% 600
Navy FCU | 2016 Rank: 5 | 2015 Rank: 4
400
3.96%
200
0
6.63%
1991
1996
2001
2006
2011
*Statistics include sales January-February- All Years Source: The Warren Group
12 | THE COMMERCIAL RECORD | APRIL 2016
2016
2016
2015
*2015 MarketShare percent (of Credit Union Lenders only) thru February 2016 *2014 MarketShare percent (of Credit Union Lenders only) thru February 2015
Top 5 Lenders by Market Share Purchase Mortgages
10-Year Condo Sales 2000
Wells Fargo Bank | 2016 Rank: 1 | 2015 Rank: 2
3.66%
3.36%
Norcom Mortgage | 2016 Rank: 2 | 2015 Rank: 3
2.99%
NUMBER OF SALES
1500
1000
500 3.28%
0
First World Mortgage | 2016 Rank: 3 | 2015 Rank: 10
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 *Statistics include sales January-February - All Years Source: The Warren Group
2.95%
Multifamily Home Sales 2.20%
500
William Raveis Mtg Co | 2016 Rank: 4 | 2015 Rank: 7
2-Family
3-Family
400
2.34% Webster Bank | 2016 Rank: 5 | 2015 Rank: 1
2.65%
NUMBER OF SALES
2.82%
300
200
100
3.59%
2016
2015
*MarketShare percent and Rank statistics includes loans thru February for both 2015 & 2016
0
06 07 08 09 10 11 12 13 14 15 16 *Statistics include median prices January-February - All Years Source: The Warren Group
APRIL 2016 | THE COMMERCIAL RECORD | 13
Total Home Automation
NEW HOME TECHNOLOGY MAKES LIFE SIMPLER, SAFER FOR RESIDENTS Controlling Your Home’s Security, Lighting, HVAC, Music, From Your Smartphone
BY JIM MORRISON | COMMERCIAL RECORD STAFF
I
t wasn’t that long ago that remote controls weren’t wireless and advanced computer skills were needed to operate programmable thermostats. Home automation and interaction have come a long way since then. Now, there are new products available to consumers, whether do-it-yourselfers or highly-trained professionals, to make your home operate more smoothly and from your smartphone. William and Michelle Fredericks, owners of CT Home Automation in Cheshire, install customized home automation systems from under $1,000 to over $300,000. Mike started the company in 2002 after leaving the field of factory automations and it’s been evolving with the technology ever since. “We started out as more of a home entertainment company from there and little
by little we learned alarm, surveillance phones access controls and lighting systems,” Fredericks said. “We call ourselves integrators now. We take all these subsystems and put a parent controller on top of them that brings them all together and gives the user control. Fredericks said he can program it so exterior lights come on as a homeowner’s car pulls in the driveway after work, have
14 | THE COMMERCIAL RECORD | APRIL 2016
their favorite Pandora station play on exterior speakers as the homeowner walks up to the front door, which can be unlocked from an app on their iPhone. And that’s not all. He can design it so everyone in the house can control some or all of the interior lighting, but maybe just the adults can adjust the heating and cooling. “There’s a difference between home automation and interaction,” Fredericks said. “A smart home is a house that thinks on its own. It constantly monitors the temperature, the time of day and events like someone pulling in the driveway, and responds the way it’s programmed to respond. Our goal is to take the things you have already and allow you to communicate with them through your phone or tablet.” Fredericks prefers working in homes as they are being built, because it takes a lot
“
A smart home is a house that thinks on its own. It constantly monitors the temperature, the time of day and events like someone pulling in the driveway, and responds the way it’s programmed to respond. Our goal is to take the things you have already and allow you to communicate with them through your phone or tablet.” — Michael Fredericks, owner, CT Home Automation
of infrastructure to create a strong wireless signal throughout a home, but he can retrofit systems as well. His systems are designed with two-way interaction, so the user doesn’t just give the fixture a command, like ‘turn the heat up’ for example. The fixture reports back to the user that the task is completed. “Over the last two years, surveillance has become the biggest part of my business,” Fredericks said. “Inside and out. People want to know who walks through their yard, who rings the front door. The technology of the camera these days has become very good and very powerful.” Fredericks said more and more clients are asking him to install automatic exterior lighting around their homes. “We’re just getting into outdoor lighting, which we see as a growth area because of the LED (light-emitting diode) fixtures. They last longer and the wiring is easier. Current lights are a maintenance nightmare and burn a lot of electricity. Now you can throw 30-40 fixtures up that will need no maintenance for at least five or six years.” Of course, with all of this control and connectedness comes questions about privacy. Fredericks said it’s all a matter of trust…and encryption. “Our systems use 128 bit encryption. I’ve never had anyone even question it,” Fredericks said. Part of what we offer is some kind of remote service, so I can log into any of these systems from my office and work on them if there’s a problem. It’s one of the things we tell customers when comparing ourselves to the big companies. It’s me and a couple of other guys. We’re all you’re ever going to see. If you go with one of the big companies, you get whoever happens to be working that day. You have to trust the people you’re working with. People value that and it’s what keeps us alive.” Michael Propp got his doctorate in
electrical engineering from MIT and he owns Savin Automation, a company he created after renovating and automating a three-family home in Dorchester, Massachusetts in 2015. Propp didn’t set out to get into the home automation business. He just wanted his first rental property to be as automated as possible so he and his tenants could control things remotely. But when he looked at the systems that were commercially available, he figured he could create a better system, so he did. “When I put it together, people thought it was cool,” Propp said. “I thought maybe if I’ve invested all this time and money to build something other people is valuable, why not see if there’s a market for it?”
Rental Property Automation Propp’s controls also come in layers, so the tenants in one apartment can’t control the water or the lights in the others. As the owner/manager of the building, he has leak sensors installed in the bathrooms and basements, so if there’s a plumbing disaster, he is alerted immediately. “Water is one of the worst things to deal with in rentals,” Propp said. We want to make sure there’s no flooding because if there is, then units 1 and 2 are going to get it, too. So there’s a water sensor on the bathroom floor, so the owner and the tenant both get an alert if there’s a flood in the bathroom, where the washer /dryer is as well. You don’t even have to know where the water shutoff is, you can shut it off from the app, from anywhere in the world. There’s also a drain in the floor to catch leaks so they don’t damage the unit below.” His system also comes with free WiFi for tenants throughout the building, even on the roof deck which overlooks Dorchester Bay. The exterior lighting is programmed to
come on and off automatically at sunrise and sunset. The doors can all be unlocked from a smartphone or tablet too. Each tenant can also access the security camera from their phone as well. “Let’s say I have someone coming to visit me and I’m stuck in traffic,” Propp said. “I can see them on my phone and I can unlock the front door and the door to my unit. “We’ve designed it so the light automatically comes on when the front door opens in case you have a bag of groceries in your hands. There’s a battery in the door lock which lasts about a year and you can also get the status on the battery through the app.” The exterior lighting is programmed to come on and off with sunrise and sunset. The building owner/manager has access to everything, which is why there are no cameras installed on the interior units, except for the common area space in the basement. Naturally, this brings up privacy concerns as well. “Normally, a building manager has keys to everything but they can’t just walk in someone’s unit whenever they like,” Propp said. “But you can also disable that function. Generally, we didn’t put in things we thought a tenant would absolutely not want, like cameras in their units. We don’t have motion sensors inside the units, just in the front and back common hallways.” And if one of those motion sensors goes off while you’re at work or away? The system sends you a text message or an email. Same thing if an exterior door is left open for an extended period of time. All that sounds great, but what happens when the power goes out? Propp also had a natural gas-fired generator installed so the house won’t be without power for more than a few seconds. n Email: jmorrison@thewarrengroup.com
APRIL 2016 | THE COMMERCIAL RECORD | 15
C-CHANGES IN CONNECTICUT’S EXECUTIVE SUITES
The Central Connecticut Chambers of Commerce (CCCC) has appointed Cindy Scoville as its new president and CEO. Scoville has been employed by the chamber for the past 10 years, most recently acting as executive director for three CCCC affiliates: the Farmington Chamber of Commerce, the New England Spring and Metalstamping Association and the Connecticut Tool and Machining Association. She has over 30 years of chamber experience beginning in the late 1970s.
Coldwell Banker Residential Brokerage of Connecticut and Westchester County, New York has announced that Charles Cusson has been appointed vice president of operations. Cusson will oversee the operational aspects of the company’s relocation, education, marketing and administrative support teams. Prior to his new role, Cusson served as regional vice president of education for the company’s Eastern Seaboard and Northeast regions.
Mark Rosenbloom of First County Bank has been named chairman of the Darien Chamber of Commerce board of directors. Rosenbloom was officially elected as executive board chairman at the Nov. 16, 2015 annual awards meeting for a two year term. He is an assistant vice president, cash management manager at First County Bank in Stamford.
John Kuppens has been promoted from a senior vice president to executive vice president of Bostonbased WinnResidential for the Northeast Region. In his new role, Kuppens will oversee management operations throughout Connecticut, New Hampshire, Rhode Island and parts of Massachusetts and New York. Kuppens has been with WinnCompanies for over 20 years.
AWARDS & ACCOLADES
CoStar Group Inc., a provider of commercial real estate information, analytics and online marketplaces, recently honored The Geenty Group’s Kevin C. Geenty with the 2015 CoStar Power Broker Award as a top industrial leasing broker. The award is designed to recognize top commercial real estate brokers for their achievements. Geenty closed over 37 transactions in 2015.
16 | THE COMMERCIAL RECORD | APRIL 2016
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.
ERIN BUCKLEY, CO-OWNER, CENTER FOR GREEN BUILDING Erin Buckley has owned a residential contracting business with her husband, Jonathan, for 14 years. How much more expensive are the “green” products you sell compared to traditional materials? The cost can be [up to] 25 percent more, depending on the product. I have customers who build tiny houses and at that point, because it’s not a 5,000-square-foot house, it doesn’t seem so bad. Builders normally arrive here very resistant and somewhat angry, but they respect the fact that I’m really honest with them and give them tips. I try to make that switch to our products as seamless as possible. Who is your typical client? Mainly mothers. Eighty percent are women between 35 and 65 years old. They’ve either done some research or have started a project and they don’t like the smell. We sell to people everywhere from New Jersey to Maine, people who are really concerned about their indoor air quality. Which three traditional building products would you eliminate if you could? PVC, because it off-gases its entire lifespan. I’d also replace fiberglass, eps and xps (foam panel) insulation with wool and cork, and I’d replace all finishes with finishes that were certified by the Scientific Certification System. Chemicals are cheap. When you’re using natural resources, you have to be really conscientious.
MICHAEL LABELLA, COMMERCIAL MARKET PRESIDENT, CONNECTICUT, TD BANK Michael LaBella got his foot in the financial services door when he got into GE Credit’s management development program out of college before working for Citibank for 16 years. How does your business differ across different parts of Connecticut? In regional [banking], it’s a little bit higher sale size and loan size. The strength we’ve really seen in the market has been somewhat geographic. The southern part of the state, when we look at Fairfield County especially, that’s very heavy in real estate and that’s been a big growth component for us over the last two or three years. That product set has seen very high growth. How is the retail side of the house doing? Where do you see opportunities, and where do you see challenges? We’ve been growing the retail business. It’s been really positive. We have a home equity business and a lot of things coming out in home equity now. There is some strengthening in the consumer world, so we’re seeing an uptick in our home equity business. We all kept thinking the mortgage business was going to start slowing down because of rates, but rates really haven’t increased on the long term basis. I think some of the challenges in retail, as we see a lot of changing in people, especially the new generations, as I like to call them, we’re seeing less traffic in our stores. Technology is really starting to drive some of people’s preferences as to how they bank.
WILLIAM RAVEIS, CHAIRMAN AND CEO, WILLIAM RAVEIS REAL ESTATE, MORTGAGE AND INSURANCE Bill Raveis grew up in Fairfield and is a rare example of a man who splits his sports allegiances evenly between Boston and New York. More than four decades ago, he decided to stop working in technology and get into real estate. In January you announced that your sons Chris and Ryan are going to take over. Are you easing your way out of the business? No, I’m like Picasso, who died with his paintbrush in his hand. It’s a big canvas and I’ll continue to paint until they wheel me out. My sons have taken over the majority of the operations. In fact, we just bought one of the biggest companies in Florida. What are some of the biggest changes you’ve seen in the industry? When I first started you had the MLS service and sheets in three-ring binders, then they had books. Back then, there wasn’t much differentiation in terms of business models. About 30 years ago you started seeing teams. Then in 1995 the Internet came out. I knew that was terrific and we jumped on it. As these things have come along, the mom-and-pop offices are gone, now it’s all these big companies. We have built a forecasting tool on our website. We forecast two years down the road. It’s really cool. Nobody does this stuff. We do it. We also have a housing newsletter. We have a valuation tool as well. We’ve got everything that’s pretty cool that’s going to be hard to compete. Nobody has the nerve to take the big leaps that we’re taking. APRIL 2016 | THE COMMERCIAL RECORD | 17
Real Estate Coach
DUMP YOUR CRYSTAL BALL
THERE’S A BETTER WAY TO PREDICT THE MARKET Downturns Appear Across The Country As Connecticut’s Prices Continue To Fall
BY BERNICE ROSS SPECIAL TO THE COMMERCIAL RECORD
A
t a recent conference, Brad Inman said that he was thinking about buying two more houses. I wanted to stand up and say, “Don’t do it – the next downturn is on the way!” Yes, there are multiple signs the next downturn is around the corner, but what if you could predict whether a specific property in a given market area would increase or decrease in price during the next year?
Ever since I listed my house in September and lowered the listing price after just two weeks, my gut has been telling me the next downturn is just around the corner. My sense is that we BERNICE ROSS are in 2006 all over again. Prices may still be increasing, but have already flattened in many areas, a precursor to the next downturn. As I speak with real estate professionals across the
country, about 80 percent of them are feeling the same vibe. Yes, there are pockets where the market is still roaring, but that’s not the case in most areas.
What The Experts Say In a recent Inman article, Alex Villacorta, chief economist, Clear Capital, observed that “Many markets are already hospitable for buyers, but we have yet to see the demand. This implies that consumer confidence and the inability to overcome the barriers to purchase are a real headwind to a fully engaged housing market,
18 | THE COMMERCIAL RECORD | APRIL 2016
especially for first-time homebuyers.” Jonathan Smoke, chief economist for Realtor.com, identified a major contributor to the problem as being the burdensome level of rents in 85 percent of the markets that keep households from saving towards a down payment. Douglas Duncan, Fannie Mae’s chief economist, cites lack of income growth for low and moderate income households as being the real problem. Lou Barnes, my favorite prognosticator of rates and mortgage conditions, explained how negative interest rates in
Japan and Europe (i.e., the banks charging you for leaving your money on deposit with them), can pave the way for a deflationary cycle. In deflationary cycles, prices decline while the value of the money in your wallet actually increases, the exact opposite of an inflationary cycle, where your cash loses value as prices increase. In other words, why buy anything when the cost of it is going to continue to fall? Barnes went on to say that even though things look good in terms of U.S. interest rates and demand, there’s no inflation or wage growth.
A New Prediction Tool WeissAnalytics.com, the brainchild of Allan Weiss, co-creator of the S&P/CaseShiller index, is the first tool that provides over a decade of pricing data for 50 million individual properties in 38 different states based upon 300 million sales. (At this time, data is not yet available for non-disclosure states or low population areas.) What’s really exciting about this tool is that it also predicts how prices will change during the next year not only in major metros and ZIP codes, but for individual properties. It’s this combination of prediction linked to specific properties that differentiates this tool from RPR and other market reports. See chart top right for an example of how this works. The two homes charted above are a few blocks from each other and are located in the 07461 ZIP code. The gold line represents historical values of 27 Pochuck Drive, a 960-square-foot home built in 1960. Over the last year it appreciated 9 percent and is forecast to appreciate another 5 percent in 2016. The blue line represents the historical values for 25 Cedar Lane, a 854-squarefoot home built in 1930. Over the last year it depreciated by 2 percent and is forecast to stay steady during 2016. Assuming that these two homes were of equal value at the beginning of 2015, by the end of 2015, there was an 11 percent difference in their value. The Weiss forecast calls for a 16 percent difference in value by the end of 2016. Based upon the projected appreciation, the Pochuck Drive property would be the best property to purchase. Weiss Analytics also provides over a de-
cade of history in an easy-to-understand heat map format.
So Should Brad Buy? Assuming Brad is considering purchasing in either New York City or in West Hollywood, which area would offer the best appreciation? The heat maps for the New York Metro area and for West Hollywood are viewable as videos at bit.ly/1RXHLcq and bit.ly/1N59mRf, respectively. To make the best decision possible, Brad would have to compare specific properties as to their predicted appreciation or depreciation. While New York City has many areas where prices are appreciating, it looks as if the green areas representing appreciation in West Hollywood are starting to disappear with shades of red just peaking through. In other words, the prices in
West Hollywood may have already peaked and could be showing signs of a potential downturn. So the question facing Brad is this: “Do I invest now, knowing my dollar may be worth more in my wallet than in a property, or do I search for a property that will outperform the market where I want to be an owner?” Being able to better quantify not only the history of a property, the ZIP code and overall area coupled with where the market is heading in terms of specific properties, opens the door to better pricing models for agents and better decisions for both buyers and sellers. n Bernice Ross, CEO of RealEstateCoach.com, is a national speaker, trainer and author. Email: Bernice@RealEstateCoach.com
Home Sales In Connecticut | February 2016
1,788
30%
$222,750
-.096%
Number of Sales
Number of Sales Change from 2015
Median Sale Price
Median Sale Price Change From 2015
Source: The Warren Group
APRIL 2016 | THE COMMERCIAL RECORD | 19
THE NEW ENGLAND FINANCIAL MARKETING ASSOCIATION
BESTMarch IN3, 2016 MARKETING AWARDS | Bentley University Conference Center
Gilda Nogueira, president and CEO of East Cambridge Savings Bank, was this year’s Community Hero award winner.
John Cournoyer, recipient of the Rising Star Award, was recognized for making rapid strides in his professional development at an early stage of his career.
T
he New England Financial Marketing Association (NEFMA) hosted the Best in Marketing Awards this year at Bentley University in Waltham, Massachusetts, where hundreds of bankers and agency partners gathered from all over the region. Held on March 3, the awards dinner feted winners in a variety of categories, including social media campaigns, print ads, radio spots, television commercials and alternative marketing techniques. Drawing from hundreds of submissions, the judges – Doug Gould, executive creative director at Boston University; Daisy Scott, an award-winning writer in commercial, educational and entertainment media; and Patricia Hambrick, The Hambrick Group, a 20-year global marketing veteran – considered not only the marketing materials, but also the impact they had. Recognizing “individuals and companies who go the extra mile every day and have the courage and vision to go outside of the status quo,” the 2016 Best in Marketing Awards may have been one night, but the winners are financial marketing superstars all year long.
BEST IN SHOW
CREATIVE ASSETS
EVENT
First Place Blue Hills Bank (Small Army)
CONTEST
First Place BankFive
First Place Jewett City Savings Bank (Sundin Associates)
ACHIEVEMENT AWARDS
Second Place St. Mary’s Bank
GOOD NEIGHBOR/COMMUNITY HERO First Place East Cambridge Savings Bank (Gilda M. Nogueira)
RISING STAR First Place Webster First (John Cournoyer)
DIRECT MAIL
Second Place Needham Bank
OUTDOOR ADVERTISING First Place Tie Norwood Bank (Stackpole)
First Place Navigant Credit Union (Duffy & Shanley)
First Place Tie Harvard University Employees CU
Second Place BayCoast Bank (Sean Tracey Associates)
Second Place Navigant Credit Union (Duffy & Shanley)
20 | THE COMMERCIAL RECORD | APRIL 2016
OVERALL BRAND CAMPAIGN
ENEWSLETTER
First Place Reading Cooperative Bank
First Place Connex Credit Union
Second Place Needham Bank
Second Place Radius Bank
SOCIAL MEDIA
First Place Blue Hills Bank (Small Army) Second Place The Cooperative Bank of Cape Cod (HCC Marketing)
PUBLIC RELATIONS First Place East Cambridge Savings Bank (Davis Advertising) Second Place East Cambridge Savings Bank
RADIO First Place Navigant Credit Union (Duffy & Shanley) Second Place BayCoast Bank (Sean Tracey Associates)
TV First Place BankFive Second Place Berkshire Bank DIGITAL
DIGITAL MARKETING First Place Liberty Bank (Cronin & Company)
First Place Machias Savings Bank Second Place State Street Global Advisors (EMI Strategic Marketing)
WEBSITE First Place Machias Savings Bank Second Place Metro Credit Union (Boston Interactive)
INTEGRATED MARKETING CAMPAIGN First Place Merrimack County Savings Bank (Creative Co-op LLC) Second Place St. Mary’s Bank
OVERALL COMMUNITY SERVICE First Place Blue Hills Bank Second Place The Cooperative Bank of Cape Cod
PITCHED AND DITCHED First Place Bayonne Community Bank (BCB) (Image 4) Second Place HarborOne Bank
Second Place Blue Hills Bank (Small Army)
DIGITAL VIDEO First Place Florence Bank (Sean Tracey Associates) Second Place Charles River Bank (Sundin Associates) APRIL 2016 | THE COMMERCIAL RECORD | 21
Chicken And Egg Issue
WHAT COMES FIRST: BRANCH DESIGN OR BANK STRATEGY? FI’s Objectives Should Shape Branch Design Models
BY MARK CHARETTE | SPECIAL TO THE COMMERCIAL RECORD
T
he two biggest doubts holding financial institutions back today are concerns about their model and their strategy. Not knowing whether the model or strategy is correct can render technology useless, branch staff superfluous and merchandising a huge waste of time and money. So what is the right model and strategy?
MARK CHARETTE
A branch model goes deeper than the relative positions of retail zones and equipment. Deciding how model and strategy work together may resemble a chicken-and-egg
problem, but logically, the model must be determined by your strategy and its objectives.
Strategy Drives Model, Technology Enables Strategy The successful branch model (driven by strategy) includes staffing that requires its own special training. Banking technology
22 | THE COMMERCIAL RECORD | APRIL 2016
should enable strategy, not the other way around (strategy shouldn’t enable technology). Financial institutions should mindfully build their platforms – deliberate layers of staff, technology and retail communications – so the branch model completely supports strategy: 1. If growing wallet share is the strategic goal (more products per customer/ family), dialogue banking is the model to support this. The dialogue model requires in-branch tellers using a new generation of highly efficient cash processing equipment. 2. If staff productivity or pure efficiency is the goal, the branch automation model is the best option. This model uses machines that enable customer transactions with minimum assistance from staff. The cost of banking equipment can be
Not knowing whether the model or strategy is correct can render technology useless, branch staff superfluous and merchandising a huge waste of time and money. more than offset by increased wallet share or improved staff productivity. Two types of machine currently satisfy these two different strategies: • Cash recyclers enable the dialogue banking model • Advanced terminals/ITM video tellers enable the automated branch model Dialogue banking: Cash recyclers are revolutionizing branch interactions. Usually incorporated as part of a dialogue tower (“teller pod”) setup, they can also be installed at drive-thru windows and other branch stations. Staff operating recyclers in dialogue towers should be trained to function as a “universal banker.” These versatile employees can move from behind the dialogue tower to greet customers as they enter the branch, or roam the retail floor attending to visitors’ needs. They’re trained in all aspects of retail branch operations, cross-selling and sales in general. The recycler enables this strategy; these remarkable machines can process banknotes of any combined denomination, log serial numbers, sort and count them at considerable speed. They detect counterfeit bills and have advanced error recovery capabilities. This puts a whole new complexion on the teller transaction, elevating it from a non-communicative, moneycounting exercise to an in-depth personal conversation. It builds relationships, which leads to cross-selling and higher brand loyalty. Automated branch model: Advanced terminals are a great way to reduce operational expenses and extend the hours when a live person is available to talk with customers. They occupy less branch space than teller stations and, with fewer tellers based in video call centers, avoid overstaffing at times of low branch traffic. In the absence of teller stations (or dialogue towers), branches can accommodate more consultancy space, such as private booths and conference rooms.
Advanced terminals can be either a full interactive video model or assisted self-service model. The interactive video model requires a remote teller transaction every time, as they’re not integrated into the branch core, and the teller must enter the transaction data on a second terminal. This is clearly not as efficient as it would be if it were connected to core data systems. The assisted self-service model is integrated into core processes so the customer is free to use the terminal as an ATM or ITM. The focus is speed of transaction, with all data instantly recorded. A remote teller or branch staff member will only intervene in the event that a customer needs help. A second connection to the larger ATM network means that both customers and noncustomers of the financial institution can use the machines. Without this connection only the financial institution’s customers can access funds.
Validate and Translate Strategy Branch transformation specialists are so valuable because they have the experience to navigate available options and select branch-appropriate equipment. Every branch is different, due to size, location, customer profile, or its node position relative to the hub or spokes in the branch network. An expert consultant can look deeply into your operation, validate your strategy and translate it to each unique branch situation. Customer experience is also an important consideration, which brings us to the retail communications piece.
Retail Communications Retail communications covers the interior and exterior design considerations for retail branch environments, including branding, merchandising and any other means by which the financial institution conveys its products, services, mission, community ties and general value story. This discipline is
based on scientific studies of customer flow through branches (known as experience mapping) and intensive programming by designers. The modern branch is becoming smaller and revenue-per-square-foot has attained some significance as a metric; nothing is left to chance.
Merchandising Financial institutions employ multimedia displays, kiosks and dispensers to inform consumers of their complete range of services. These media are most effective when they send a consistent message across channels, via the branding theme, voice and general experience. This now includes the digital side of banking, with websites and banking apps playing a major role in the so-called omnichannel experience. Merchandising in branches goes beyond simply positioning dispensers about the lobby. It’s a carefully constructed spatial exercise that takes into account exactly where customer interaction with potentially expanded retail experiences (known as “touchpoints”) should occur during the customer journey. The full range of a financial institution’s products and services must be advertised to its customers visually. It’s possible that different products will have more appeal to some customer segments than others, and this may influence where in the branch certain marketing material will be placed. The branch architecture itself may even be designed to incorporate branding and marketing features, such as in the shape of the entranceway, built-in signage, or interactive walls. Retail communications may appear “on the surface” but its influence goes deep into the heart of the operation. n Mark Charette is the CEO of Solidus Inc., a commercial design and construction firm specializing in the financial industry, with locations in Connecticut, Rhode Island, New York and New Hampshire. He may be reached at mcharette@gosolidus.com.
APRIL 2016 | THE COMMERCIAL RECORD | 23
2015 TOP LENDERS
SECOND VERSE, SAME AS THE FIRST Mortgage Lenders Look To First-Time Homebuyers While Commercial Lenders Capitalize On Demand For Rentals BY LAURA ALIX | COMMERCIAL RECORD STAFF
W
ith interest rates still at historic lows and consumer confidence on the mend, 2015 was a decent year for Connecticut’s lenders, but banks, credit unions and mortgage companies are increasingly fighting tooth and nail for the very best credits the marketplace has to offer. The Commercial Record’s Top Lenders of 2015, compiled with data gathered by The Warren Group, contained few surprises from the prior year. Wells Fargo maintained its No. 1 status among banks making single-family mortgages, closing out 2015 with 901 mortgages totaling $431 million, but that represents only the barest increase in volume (up less than 1 percent from 2014). Meanwhile, Connecticut-based banks like Waterbury-based Webster Bank and United Bank in Glastonbury saw healthier gains in their single-family mortgage business (increasing volumes 15 percent and 39 percent year-over-year, respectively).
24 | THE COMMERCIAL RECORD | APRIL 2016
Credit unions saw even heartier gains in singlefamily mortgages. Consider, for instance, Navy Federal Credit Union, which posted 245 mortgages worth $66.4 million, up from 159 mortgages totaling $41.7 million in the prior year. Or take Charter Oak Federal Credit Union, which increased its single-family mortgage volume nearly 30 percent year-over-year to close out 2015 with $26.4 million on its books. That may hint at something else that’s going on in the Connecticut mortgage market. David Zamary, president of the Connecticut Mortgage Bankers Association and head of residential lend-
ing at First County Bank, said that 2015 was a good year for first-time homebuyers, but he added that many of those firsttime homebuyers are flocking to community banks that may not necessarily rank among the Top Lenders. Simon Tahan, Webster Bank’s director of mortgage banking, spoke of an increased focus on both first-time homebuyers and the mass affluent market as boosting his bank’s mortgage portfolio. With rents on a steady increase and the Fed making minimal movement on interest rates, he said, would-be homebuyers who may have been on the fence are starting to get more serious about buying. “Rates are still very, very good. There are very attractive rates out there for 30-year fixed conventional loans. It’s become really about educating [homebuyers],” Tahan said.
Commercial Hits The Sweet Spot But the Millennial generation’s stubborn insistence on renting has also boosted commercial lending efforts, particularly with respect to apartment buildings. People’s United Bank in Bridgeport held onto its spot as a Top Lender in commercial mortgages, booking loans totaling
2015 TOP LENDERS
$189 million in 2015. Marjan Murray, executive vice president for People’s United in Connecticut, said that much of the bank’s commercial activity was driven by multifamily construction and conversion of office properties into apartment buildings. She said that trend has been driven by the increasing tendency of Millennials to rent, rather than buy a home by the timelines set by prior generations. Michael LaBella, TD Bank’s market president for Connecticut, echoed that sentiment. He also said TD Bank had financed some industrial properties and that the bank has seen continued strength in the medical office space. TD Bank booked about $71.8 million in commercial mortgages last year, up about 37 percent from last year. But the prolonged low interest rate environment has intensified competition for the highest quality credits, and both Murray and LaBella commented that the market could be overheating in some areas. He remarked, “I don’t know if we’ll see the volumes we’ve seen for the past couple of years, but I think [the credits are] out there. It’s just a matter of who’s going to be really aggressive on it.” n
Bank
Credit Union
Mortgage Co.
Single-Family Purchases Loans Bank Number of Loans Wells Fargo Bank Webster Bank United Bank Bank of America NA Peoples United Bank Citicorp Mortgage Inc. JPMorgan Chase Bank Liberty Bank Farmington Bank First Niagara Bank
901 659 587 535 535 403 356 341 285 285
Bank by Loan Volume Wells Fargo Bank Bank of America NA Citicorp Mortgage Inc. JPMorgan Chase Bank Peoples United Bank United Bank Webster Bank First Niagara Bank Fairfield County Bank Liberty Bank
Mortgage Company Number of Loans
Credit Union Number of Loans
$431,342,846 $272,588,007 $260,463,171 $258,039,782 $198,486,518 $187,977,367 $173,630,040 $154,064,484 $116,072,185 $93,363,926
American Eagle Federal CU Navy Federal CU Charter Oak Federal CU Sikorsky Financial CU Inc. 360 Federal CU Seasons Federal CU Pentagon Federal CU Suma Yonkers Federal CU Coreplus Federal CU Digital Federal CU
272 245 136 45 20 14 12 12 9 9
Norcom Mortgage 789 Village Mortgage Co. 683 First World Mortgage 622 William Raveis Mortgage Co. 617 NE Moves Mortgage Co. 545 Prime Lending Inc. 522 LoanDepot.Com 495 Quicken Loan Inc. 471 Plaza Home Mortgage 466 Guaranteed Rate Inc. 445
Credit Union by Loan Volume
Mortgage Company by Loan Volume
Navy Federal CU $66,394,257 American Eagle Federal CU $62,286,966 Charter Oak Federal CU $26,381,214 Sikorsky Financial CU Inc. $9,607,600 United Nations Federal CU $4,265,400 Suma Yonkers Federal CU $3,875,950 360 Federal CU $3,452,120 Digital Federal CU $3,426,469 Seasons Federal CU $3,283,420 Bethpage Federal CU $2,939,800
William Raveis Mortgage Co. $212,384,218 LoanDepot.Com $178,731,689 Norcom Mortgage $168,267,951 NE Moves Mortgage Co. $149,652,635 Village Mortgage Co. $148,091,922 Prime Lending Inc. $137,804,849 Quicken Loan Inc. $125,782,509 First World Mortgage $117,790,941 Guaranteed Rate Inc. $117,597,462 Total Mortgage Services $116,144,124
APRIL 2016 | THE COMMERCIAL RECORD | 25
Condominium Purchase Loans Bank Number of Loans Wells Fargo Bank Webster Bank Peoples United Bank United Bank Bank of America NA Savings Bank of Danbury Newtown Savings Bank Liberty Bank JPMorgan Chase Bank Farmington Bank
181 156 125 124 118 103 86 83 73 67
Bank Number of Loans
American Eagle Federal CU Navy Federal CU Charter Oak Federal CU Digital Federal CU Suma Yonkers Federal CU Sikorsky Financial CU Inc. Pentagon Federal CU Mutual Security CU 360 Federal CU Hudson Valley CU
3,118 2,740 2,549 2,326 1,661 1,295 823 795 763 597
$887,691,978 $721,453,276 $718,061,338 $706,409,281 $541,094,641 $421,546,894 $305,887,813 $269,685,569 $193,861,024 $156,861,804
William Raveis Mortgage Co. 138 Prime Lending Inc. 124 Norcom Mortgage 122 LoanDepot.Com 111 Village Mortgage Co. 105 NE Moves Mortgage Co. 101 Total Mortgage Services 95 First World Mortgage 90 Guaranteed Rate Inc. 72 Quicken Loan Inc. 68 Mortgage Company by Loan Volume
$11,820,900 $4,152,679 $3,477,822 $1,804,420 $1,525,650 $1,271,650 $1,097,400 $984,000 $855,640 $626,980
Bank
American Eagle Federal CU Charter Oak Federal CU CT State Employee Federal CU Sikorsky Financial CU Inc. Connex CU Navy Federal CU Dutch Point CU Coreplus Federal CU Achieve Financial CU Nutmeg State Federal CU
William Raveis Mortgage Co. $24,773,511 LoanDepot.Com $22,905,522 Prime Lending Inc. $19,526,732 NE Moves Mortgage Co. $18,741,415 Norcom Mortgage $17,136,872 Total Mortgage Services $17,110,952 Village Mortgage Co. $16,032,470 First World Mortgage $12,236,840 Guaranteed Rate Inc. $11,093,712 Quicken Loan Inc. $10,823,406
Credit Union
Credit Union Number of Loans
Bank by Loan Volume Wells Fargo Bank Peoples United Bank Bank of America NA JPMorgan Chase Bank Webster Bank Citicorp Mortgage Inc. First Niagara Bank United Bank Liberty Bank RBS Citizens NA
81 31 26 12 9 9 6 6 4 4
Credit Union by Loan Volume $51,129,992 $30,760,779 $26,821,349 $23,992,469 $21,960,688 $21,579,911 $18,547,355 $15,763,757 $15,375,370 $14,458,750
Mortgage Co.
Mortgage Company Number of Loans
American Eagle Federal CU Navy Federal CU Charter Oak Federal CU Suma Yonkers Federal CU Digital Federal CU Sikorsky Financial CU Inc. 360 Federal CU Pentagon Federal CU Massmutual Federal CU Mutual Security CU
Residential Refinance Loans Wells Fargo Bank Webster Bank Peoples United Bank Bank of America NA JPMorgan Chase Bank First Niagara Bank Citicorp Mortgage Inc. United Bank Liberty Bank Newtown Savings Bank
Credit Union
Credit Union Number of Loans
Bank by Loan Volume Wells Fargo Bank United Bank Bank of America NA Webster Bank Peoples United Bank JPMorgan Chase Bank Savings Bank of Danbury Fairfield County Bank Liberty Bank Newtown Savings Bank
Bank
Mortgage Co.
Mortgage Company Number of Loans 1,495 914 535 428 332 231 204 169 154 141
Quicken Loan Inc. 3,180 LoanDepot.Com 1,362 Nationstar Mortgage 693 Freedom Mortgage Corp. 496 Norcom Mortgage 461 Village Mortgage Co. 446 Green Tree Financial Services 439 Total Mortgage Services 390 Guaranteed Rate Inc. 340 Franklin American Mortgage 311
Credit Union by Loan Volume
Mortgage Company by Loan Volume
American Eagle Federal CU $158,731,056 Charter Oak Federal CU $107,706,032 Sikorsky Financial CU Inc. $59,102,733 CT State Employee Federal CU $58,850,428 Navy Federal CU $45,916,931 Connex CU $24,854,490 Pentagon Federal CU $15,948,269 Seasons Federal CU $14,149,391 Bethpage Federal CU $14,118,400 Coreplus Federal CU $4,020,434
Quicken Loan Inc. $744,084,962 LoanDepot.Com $437,764,059 Morgan Stanley $155,800,642 Nationstar Mortgage $135,701,162 William Raveis Mortgage Co. $114,189,189 Total Mortgage Services $109,423,257 Freedom Mortgage Corp. $106,125,722 Village Mortgage Co. $102,892,468 Norcom Mortgage $101,190,085 Guaranteed Rate Inc. $99,978,275
26 | THE COMMERCIAL RECORD | APRIL 2016
Commercial Purchase Loans
Bank
Credit Union
Bank Number of Loans
Mortgage Company Number of Loans
Webster Bank Peoples United Bank Bank of America NA Farmington Bank Thomaston Savings Bank United Bank TD Bank NA Fairfield County Bank Wells Fargo Bank Union Savings Bank
174 102 82 82 82 79 64 62 58 47
Is your institution a top lender for 2016? The Warren Group’s Mortgage Marketshare Module can tell you. Call or email today for more information! 617-896-5365 or datasolutions@thewarrengroup.com.
Community Investment 21 Sachem Capital Partners LLC 11 Ladder Capital Financial LLC 9 HEDCO Inc. 8 Homeowners Finance Co. 8 New England Cert. Dev. 7 Newtek Small Business Financial 7 Farm Credit East ACA 4 MMP Holdings LLC 4 RCN Capital LLC 4
Credit Union by Loan Volume
Mortgage Company by Loan Volume
Charter Oak Federal CU $11,759,720 Digital Federal CU $2,756,250 Connecticut Community CU $2,700,000 Freedom CU $1,106,000 Nutmeg State Federal CU $536,000 Hudson Valley CU $525,000 Navy Federal CU $382,750 Westerly Community CU $300,000 360 Federal CU $140,000 Northeast Family Federal CU $120,000
Community Investment $16,643,000 Rialto Mortgage Finance LLC $10,085,000 Ladder Capital Finance LLC $9,600,007 Toyota Motor Credit $6,300,000 BMW Financial Services NA LLC $5,690,000 Newtek Small Business Finance $4,386,300 UBS Real Estate Security $4,350,000 Farm Credit East ACA $4,292,000 Morgan Stanley $3,920,001 M&T Realty Capital Corp. $3,848,600
Bank by Loan Volume Peoples United Bank Webster Bank Bank of America NA United Bank Bankwell Bank Wells Fargo Bank Farmington Bank Union Savings Bank TD Bank NA Fairfield County Bank
Mortgage Co.
$189,140,248 $145,864,278 $115,939,009 $111,211,848 $87,351,061 $82,207,347 $77,539,809 $76,449,839 $71,767,596 $63,255,599
Know-how gives you room to grow. Whether you’re starting a business or expanding an existing one, People’s United Bank offers a wide range of credit lines, loans and commercial mortgages to help your company reach its goals.* rEtAil
MUltifAMily
Construction/Permanent Mortgage
Construction/Permanent Mortgage
Construction/Permanent Mortgage
New Haven, CT
Norwalk, CT
Stamford, CT
$41,775,000
$25,000,000
$30,000,000
MEdiCAl offiCE
groCEry ANChorEd rEtAil
distriBUtioN CENtEr
Construction/Permanent Mortgage
Permanent Mortgage
Permanent Mortgage
Brooklyn, NY
Newburgh, NY
South Windsor, CT
$10,300,000
$22,500,000
$34,000,000
MUltifAMily
CoNtACt ME todAy to lEArN MorE ABoUt oUr lENdiNg ProgrAMs.
Marjan Murray, Market Manager, EVP 203-359-6035 • marjan.murray@peoples.com Credit requests are subject to approval. ©2016 People’s United Bank, N.A. | Member FDIC | Equal Opportunity Lender
*
APRIL 2016 | THE COMMERCIAL RECORD | 27
Multifamily Purchase Loans
Bank
Credit Union
Bank Number of Loans Webster Bank Peoples United Bank Wells Fargo Bank United Bank Bank of America NA Citicorp Mortgage Inc. Farmington Bank Bank of England Mortgage Liberty Bank First Niagara Bank
Mortgage Company Number of Loans 55 49 46 28 26 22 22 21 20 15
Congratulations to all of the 2015 Top Lenders! Credit Union by Loan Volume
Bank by Loan Volume Wells Fargo Bank Peoples United Bank Webster Bank Citicorp Mortgage Inc. United Bank Bank of America NA Liberty Bank Fairfield County Bank Bank of England Mortgage Savings Bank of Danbury
Mortgage Co.
$12,310,322 $11,880,404 $8,927,086 $8,427,536 $7,049,991 $5,858,291 $5,157,414 $4,618,398 $4,145,532 $3,621,436
Tri Town Teach Federal CU Navy Federal CU Charter Oak Federal CU Suma Yonkers Federal CU American Eagle Federal CU 360 Federal CU United Nations Federal CU USA Federal CU Western CT Federal CU Sikorsky Financial CU Inc.
First World Mortgage 80 Norcom Mortgage 61 Plaza Home Mortgage 45 Guaranteed Rate Inc. 44 Village Mortgage Co. 44 LoanDepot.Com 42 Residential Mortgage Services 40 Total Mortgage Services 39 Prysma Lending Group 33 Prime Lending Inc. 32 Mortgage Company by Loan Volume
$1,400,000 $1,087,900 $968,834 $606,000 $497,000 $316,625 $310,000 $276,000 $150,000 $100,000
First World Mortgage $15,251,590 CAF Lending LLC $12,000,000 Norcom Mortgage $11,121,591 LoanDepot.Com $10,597,434 Total Mortgage Services $10,296,272 Plaza Home Mortgage $8,375,327 Guaranteed Rate Inc. $8,330,967 Village Mortgage Co. $8,264,122 William Raveis Mortgage Co. $7,456,317 Prime Lending Inc. $7,381,877
UNITED BANK IS PROUD TO BE NAMED AMONG THE TOP 10 LENDERS OF 2015. Helping grow businesses all across Connecticut. At United Bank, we’ve designed our commercial banking and lending solutions with our customers in mind. Customers like Chris Zane of Zane’s Cycles, who turn to us for ways to make managing and growing their businesses easier and more convenient. With customized solutions, local decision-making and expert guidance, that’s exactly what we do. So they can focus on what really matters.
Member FDIC Equal Housing Lender
28 | THE COMMERCIAL RECORD | APRIL 2016
CHRIS ZANE, OWNER OF ZANE’S CYCLES With locations in Branford and Fairfield, CT, Chris looks to United Bank for the expert advice and custom solutions he needs to keep the wheels turning.
866.959.BANK (2265) bankatunited.com
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You deserve to go home happy. Contact a local Loan Consultant from
ONE OF OUR THREE CONNECTICUT LOCATIONS TODAY.
612 Wheelers Farms Road Milford, CT 06461
112 Huntington Street Shelton, CT 06484
741 Boston Post Road, Suite 202 Madison, CT 06443
Joseph Caruso Senior Loan Office NMLS: 117884 203.767.2345 jcaruso@primelending.com lo.primelending.com/jcaruso
The Lisa & Michelle Team Senior Loan Officers NMLS: 113687, 124933 Lisa Nicholas - 203.944.9805 Michelle Connor - 203.445.1706 teamnicholas@primelending.com www.TheLisaAndMichelleTeam.com
David Johnston Production Manager NMLS: 117248 203.410.5164 djohnston@primelending.com lo.primelending.com/djohnston
LouAnn Daprato Loan Originator NMLS: 9466 203.951.4963 ldaprato@primelending.com lo.primelending.com/ldaprato Kelly McGuinness Branch Manager NMLS: 99282 203.951.4170 kmcguinness@primelending.com lo.primelending.com/kmcguinness
Jeneen Verzaro - 203.623.4665 Jamie Mason - 203.447.8405 Sherry Sawyer - 203.512.4220 Team Loan Originators NMLS: 70602, 887008, 119185
Gerard McGuinness Production Manager NMLS: 99280 203.627.2895 gmcguinness@primelending.com lo.primelending.com/gmcguinness
Bryan Williams Associated Loan Originator NMLS: 113825 203.410.5158 bwilliams@primelending.com lo.primelending.com/bwilliams
Mark Wootton Production Manager NMLS: 99290 203.447.8413 mwootton@primelending.com lo.primelending.com/mwootton Richard Tracy Production Manager NMLS: 58556 203.951.4947 richard.tracy@primelending.com lo.primelending.com/rtracy All loans subject to credit approval. Rates and fees subject to change. Mortgage financing provided by PrimeLending, a PlainsCapital Company. Equal Housing Lender. © 2016 PrimeLending, a PlainsCapital Company.PrimeLending, a PlainsCapital Company (NMLS: 13649) is a wholly owned subsidiary of a state-chartered bank and is licensed by: CT Dept. of Banking - lender lic no. ML-13649.. V011216.
APRIL 2016 | THE COMMERCIAL RECORD | 29
TOP COMMERCIAL TRANSACTIONS Visit www.commercialrecord.com for a complete list of commercial transactions updated weekly. TOP 3 STATEWIDE 1 Church St, New Haven....................... $19,500,000
162 Bouton St, Norwalk........................ $14,000,000
100 Lansdale Ave, Milford..................... $7,700,000
Use:...............................................Office Bldg-General
Use:................................................... Commercial Use
Use:............................................. Commercial Building
Buyer: ................................ Church Saint Property LLC
Buyer: ................................................... Cubesmart LP
Buyer: ....................................Lansdale Properties LLC
Seller:.................................. 1 Church Street Assoc LP
Seller: ...................................... Affordable Self Storage
Seller:.................................................. Metro 100 LLC
Date:............................................................ 02/29/16
Date: ............................................................ 02/24/16
Mtg: .......................... Santander Bank NA $5,174,000
Total Assessed Value (2015):..................... $5,017,670
Total Assessed Value (2015):..................... $4,356,730
Date:............................................................ 02/18/16
Lot Size: ........................................................ 44867sf
Lot Size: ...................................................... 172933sf
Total Assessed Value (2015): .....................$2,940,000
Prior Sale: ........................................$337,600 (03/89)
Lot Size: ....................................................... 183388sf Prior Sale:......................................$5,200,000 (06/13)
FAIRFIELD 162 Bouton St, Norwalk.................$14,000,000 Use:................................................... Commercial Use Buyer:................................................... Cubesmart LP Seller:...................................... Affordable Self Storage Date:............................................................ 02/24/16 Total Assessed Value (2015):..................... $4,356,730 Lot Size: ....................................................... 172933sf Prior Sale: ........................................$337,600 (03/89)
19 Forest Pkwy, Shelton................. $2,250,000 Use:............................................. Commercial Building Buyer: ....................................................FP Realty LLC Seller: ......................................19 Forest Parkway LLC Mtg: ...................................Webster Bank $1,800,000 Date:............................................................ 02/19/16 Total Assessed Value (2015):..................... $1,534,260 Lot Size: ....................................................... 130680sf Prior Sale: .....................................$1,970,000 (06/09)
18-20 Mill Plain Rd, Danbury.......... $2,000,000 Use:............................................. Commercial Building Buyer: ........................................................ EMXM LLC Seller:..................................... 3 RS&B General Ptnshp Date:............................................................ 02/04/16 Total Assessed Value (2015): .....................$1,011,400 Lot Size: ......................................................... 43560sf Prior Sale:..................................... $2,000,000 (01/16)
149 Wethersfield Ave, Hartford.... $5,962,200* Use:................................... Apartment Bldg - 9 + Units Buyer:.................................... Wethersfield Ave Portflio Seller: ..................................217 Wethersfield Ave LLC Date: ............................................................ 02/02/16 Total Assessed Value (2015): ........................$767,000 Lot Size: ......................................................... 24394sf Prior Sale: ........................................$625,000 (01/93)
183 Wethersfield Ave, Hartford.... $5,962,200* Use:................................... Apartment Bldg - 9 + Units Buyer:.................................... Wethersfield Ave Portflio Seller:.................................. 217 Wethersfield Ave LLC Date: ............................................................ 02/02/16 Total Assessed Value (2015): ........................$874,120 Lot Size: ......................................................... 16988sf
45 Winsted Rd, Torrington............ $4,900,000* Use:................................................... Commercial Use Buyer: ............................................... Emma Rose LLC Seller:......................................... EJB T Torrington LLC Date:............................................................ 02/25/16 Total Assessed Value (2015): .....................$1,385,000 Lot Size: ......................................................... 77537sf Prior Sale:.........................................$650,000 (04/08)
757 Main St S, Woodbury................ $1,200,000 Use:..................................................... Restaurant/Bar Buyer: ............................................ 757 Main St S LLC Seller: ..........................................Hayden Asset 8 LLC Mtg: .............................Union Savings Bank $900,000 Date:............................................................ 03/09/16 Total Assessed Value (2015):........................ $858,180 Lot Size:......................................................... 66211sf Prior Sale: .....................................$1,010,000 (04/98)
144 Berlin St, Middletown............... $255,000 Use:................................... Apartment Bldg - 4-8 Units Buyer:........................................... Salvatore M Morello Seller:................................................... Wayne Merrick Mtg:..................... Norwich Commercal Grp $250,381 Date: ............................................................ 02/08/16 Total Assessed Value (2015): ........................$132,270 Lot Size: ......................................................... 37462sf
20 Westbrook Pl, Westbrook............ $240,000 Use:............................................. Commercial Building Buyer:........................................ CMS Real Estate LLC Seller: ................................... 20 Westbrook Place LLC Mtg:............................. S Carter Gowrie 3rd $250,000 Date: ............................................................ 02/16/16 Total Assessed Value (2015): ........................$243,030 Lot Size: ........................................................... 7405sf Prior Sale:........................................ $339,000 (12/04)
HARTFORD 217 Wethersfield Ave, Hartford.... $5,962,200* Use:................................... Apartment Bldg - 9 + Units Buyer: .................................... Wethersfield Ave Portflio Seller: ..................................217 Wethersfield Ave LLC Mtg: ........................ 217 Wethersfield Ave $3,975,000 Date: ............................................................ 02/02/16 Total Assessed Value (2015): ........................$515,060 Lot Size: ......................................................... 19602sf Prior Sale:.........................................$265,000 (08/94)
LITCHFIELD 75 Winsted Rd, Torrington............ $4,900,000* Use:................................................... Commercial Use Buyer:............................................... Emma Rose LLC Seller:......................................... EJB T Torrington LLC Date: ............................................................ 02/25/16 Total Assessed Value (2015):........................ $150,410 Lot Size:......................................................... 74488sf Prior Sale:........................................ $650,000 (04/08)
MIDDLESEX 35 W High St, East Hampton............ $276,500 Use:............................................. Commercial Building Buyer:.................................................... Out Front LLC Seller: .......................................................Park C Bum Date: ............................................................ 02/19/16 Total Assessed Value (2015): ........................$143,430 Lot Size: ......................................................... 13068sf Prior Sale: ........................................$225,000 (08/07)
*Group sales.
30 | THE COMMERCIAL RECORD | APRIL 2016
FEATURED PROPERTY 757 Main St S, Woodbury.............................................................. $1,200,000 Use:.................................................................................................Restaurant/Bar Buyer: ........................................................................................757 Main St S LLC Seller: ..................................................................................... Hayden Asset 8 LLC Mtg: ........................................................................Union Savings Bank $900,000 Date:........................................................................................................ 03/09/16 Total Assessed Value (2015):................................................................... $858,180 Lot Size:.................................................................................................... 66211sf Prior Sale: ................................................................................ $1,010,000 (04/98)
NEW HAVEN 1 Church St, New Haven................$19,500,000 Use:...............................................Office Bldg-General Buyer: ................................ Church Saint Property LLC Seller: ..................................1 Church Street Assoc LP Date: ............................................................ 02/29/16 Total Assessed Value (2015): .....................$5,017,670 Lot Size:......................................................... 44867sf
100 Lansdale Ave, Milford.............. $7,700,000 Use:............................................. Commercial Building Buyer:.................................... Lansdale Properties LLC Seller: .................................................. Metro 100 LLC Mtg:.......................... Santander Bank NA $5,174,000 Date: ............................................................ 02/18/16 Total Assessed Value (2015): .....................$2,940,000 Lot Size: ....................................................... 183388sf Prior Sale: .....................................$5,200,000 (06/13)
3300 Whitney Ave, Hamden............ $4,750,000 Use:............................................. Commercial Building Buyer: ..................................... Delaney Properties LLC Seller: .................................... Mastro Investments LLC Mtg:...................... Mastro Investments LL $4,500,000 Date: ............................................................ 01/28/16 Total Assessed Value (2015): .....................$1,431,430 Lot Size: ......................................................... 50965sf Prior Sale: .....................................$1,050,000 (07/93)
9 Freedom Way, East Lyme............. $1,155,000 Use:..................................................Industrial Building Buyer: .................................... CBO Freedom Way LLC Seller: .......................................... 9 Freedom Way LLC Mtg: ............................... Merchants Bk & Tr $810,000 Date: ............................................................ 02/04/16 Total Assessed Value (2015): ........................$684,670 Lot Size: ......................................................... 77026sf
120 S Main St, Colchester............... $675,000 Use:............................................. Commercial Building Buyer:.......................................... 120 South Main LLC Seller:............................................ Camryn Realty LLC Mtg: ..................................Sharr Realty LLC $725,000 Date: ............................................................ 02/17/16 Total Assessed Value (2015): ........................$685,000 Lot Size: ......................................................... 80586sf Prior Sale: .....................................$1,350,000 (09/05)
113 Hydeville Rd, Stafford............... $218,000 Use:................................... Apartment Bldg - 4-8 Units Buyer:..................................................... Scott M Blais Seller:...................................... Soucy Enterprises LLC Mtg: ......................Castle&Cooke Mortgage $214,051 Date: ............................................................ 03/10/16 Total Assessed Value (2015): ........................$151,900 Lot Size:......................................................... 17424sf Prior Sale:........................................ $170,000 (08/09)
87 Prospect St, Vernon.................... $190,000 Use:............................................... Apartment Building Buyer: ......................................... CJS Real Estate LLC Seller: ........................................Desilio Properties LLC Mtg: .........................................TD Bank NA $133,000 Date: ............................................................ 02/22/16 Total Assessed Value (2015):........................ $156,320 Lot Size:......................................................... 13504sf Prior Sale: ........................................$275,000 (01/05)
476 Providence Rd, Brooklyn........... $425,000 Use:............................................. Commercial Building Buyer: ........................................................... MLD LLC Seller: ............................................... CP Brooklyn LLC Mtg:....................... Mount Hope Realty LLC $400,000 Date:............................................................ 02/17/16 Total Assessed Value (2015): ........................$278,400 Lot Size:......................................................... 46609sf Prior Sale: .....................................$3,676,933 (11/14)
64 Grove St, Putnam........................ $373,000 Use:............................................. Commercial Building Buyer: .......................................... 64 Grove Street LLC Seller:................................. Copperbeech Investments Mtg:.......................................... Avidia Bank $298,400 Date: ............................................................ 02/08/16 Total Assessed Value (2015): ........................$256,700 Lot Size:........................................................... 9148sf Prior Sale:........................................ $315,000 (06/04)
NEW LONDON 774 W Thames St, Norwich............. $3,019,990 Use:............................................. Commercial Building Buyer:............................... Scranton Chevrolet Norwch Seller: .......................................... Mallon Chevrolet Inc Date:............................................................ 03/02/16 Total Assessed Value (2015): .....................$1,153,700 Lot Size:....................................................... 297079sf Prior Sale: ........................................$300,000 (06/88)
TOLLAND 672 River Rd, Willington.................. $250,000 Use:......................................... Manufacturing Building Buyer: ........................ John Zevetchin & Ann Zevetchin Seller: ............................................... Round Rock LLC Date: ............................................................ 02/29/16 Total Assessed Value (2015):........................ $241,130 Lot Size: ....................................................... 405108sf Prior Sale:.......................................... $42,500 (11/01)
WINDHAM 7 Camp Rd, Canterbury................... $500,000 Use:...................................................... Industrial Land Buyer:.......................................... Adelman Family LLC Seller:...................................... Kobyluck Brothers LLC Date:............................................................ 02/16/16 Total Assessed Value (2015): ........................$268,800 Lot Size: ....................................................... 561924sf
APRIL 2016 | THE COMMERCIAL RECORD | 31
TRENDLINES
FAIRFIELD COUNTY SALES REPORT
NUMBER OF SALES FEB 2015
FEB %CHG 2015 2016 15-16 YTD
MEDIAN PRICE
2016 YTD
%CHG 15-16
FEB 2015
FEB %CHG 2015 2016 15-16 YTD
2016 %CHG YTD 15-16
BETHEL 1 Family
1 0
13
30.00%
19
25
31.58%
$301,250
$295,000
-2.07%
$307,500
$295,000
Condo
5
3
-40.00%
11
5
-54.55%
$350,000
$173,000
-50.57%
$285,000
$173,000 -39.30%
1 6
17
6.25%
34
38
11.76%
$328,750
$285,000
-13.31%
$313,750
$290,000
-7.57%
$147,500
11.95%
All Sales
-4.07%
BRIDGEPORT 1 Family
2 3
35
52.17%
48
60
25.00%
$130,000
$145,000
11.54%
$131,750
Condo
1 0
13
30.00%
15
25
66.67%
$71,000
$49,900
-29.72%
$75,000
76
46.15%
116
149
28.45%
$118,750
$139,750
17.68%
$120,000
$120,000
All Sales
5 2
$54,000 -28.00% 0.00%
BROOKFIELD 1 Family
4
5
25.00%
17
18
5.88%
$449,000
$240,000
-46.55%
$365,000
$297,000 -18.63%
Condo
4
3
-25.00%
6
5
-16.67%
$218,955
$151,200
-30.94%
$218,955
$137,000 -37.43%
1 4
10
-28.57%
37
29
-21.62%
$318,955
$202,000
-36.67%
$320,000
$247,500 -22.66%
1 Family
2 3
33
43.48%
43
58
34.88%
$244,800
$240,000
-1.96%
$244,800
$257,750
Condo
2 0
21
5.00%
31
40
29.03%
$240,500
$153,500
-36.17%
$200,000
$155,750 -22.13%
6 0
71
18.33%
105
129
22.86%
$267,750
$240,000
-10.36%
$260,000
$250,000
-3.85%
1 0
11
10.00%
24
34
41.67%
$1,425,000
$1,230,000
-13.68% $1,167,000
$1,202,500
3.04%
$1,724,324
4.38%
All Sales
DANBURY
All Sales
5.29%
DARIEN 1 Family Condo
3
4
33.33%
5
6
20.00%
$1,762,432
$2,021,508
14.70% $1,651,952
1 6
15
-6.25%
35
45
28.57%
$1,683,976
$1,255,000
-25.47% $1,650,000
1 Family
9
8
-11.11%
15
12
-20.00%
$635,000
$588,000
Condo
0
0
0
0
9
8
-11.11%
16
13
-18.75%
$635,000
$588,000
All Sales
$1,350,000 -18.18%
EASTON
All Sales
N/A
N/A
N/A
N/A
-7.40% N/A
$570,000 N/A
$588,000 N/A
3.16% N/A
-7.40%
$557,500
$576,000
3.32%
-4.72%
FAIRFIELD 1 Family
3 0
25
-16.67%
71
45
-36.62%
$506,700
$522,000
3.02%
$561,500
$535,000
Condo
5
5
0.00%
12
11
-8.33%
$417,500
$328,000
-21.44%
$423,750
$299,000 -29.44%
3 8
36
-5.26%
92
70
-23.91%
$520,950
$484,000
-7.09%
$559,500
$523,500
All Sales
-6.43%
GREENWICH 1 Family
2 4
20
-16.67%
44
40
-9.09%
$1,400,000
$1,142,500
Condo
1 2
9
-25.00%
22
18
-18.18%
$587,500
$490,000
-16.60%
36
-12.20%
77
70
-9.09%
$1,132,500
$941,000
-16.91% $1,132,500
$395,000
All Sales
4 1
-18.39% $1,417,500 $585,000
$1,187,500 -16.23% $627,000
7.18%
$987,500 -12.80%
MONROE 1 Family
1 7
5
-70.59%
23
16
-30.43%
$320,000
Condo
3
1
-66.67%
7
4
-42.86%
$277,000
2 0
11
-45.00%
31
27
-12.90%
$317,450
$330,000
All Sales
23.44%
$320,000
$329,500
N/A -100.00%
$277,000
$244,750 -11.64%
$314,900
$305,000
-3.14%
26.48% $1,362,500
3.95%
2.97%
NEW CANAAN 1 Family
1 4
12
-14.29%
24
27
12.50%
$1,225,500
$1,550,000
Condo
5
6
20.00%
9
11
22.22%
$1,100,000
$842,500
2 0
23
15.00%
35
46
31.43%
$1,147,500
$1,125,000
40.00%
23
26
13.04%
$395,450
$293,500
2
2
0.00% 18.52%
$334,250
$285,000
-14.73%
$287,500
$307,500
6.96%
$325,000
$332,250
2.23%
$317,250
$347,000
9.38%
All Sales
$1,500,000
10.09%
$825,000
$805,000
-2.42%
-1.96% $1,170,000
$1,233,500
5.43%
-23.41%
NEW FAIRFIELD 1 Family
1 0
14
Condo
0
2
1 2
17
41.67%
27
32
38.46%
38
45
18.42%
1
2
100.00%
45
53
17.78%
All Sales
N/A
N/A
N/A
-25.78% N/A
$381,000 N/A
$326,250 -14.37% N/A
N/A
NEWTOWN 1 Family
1 3
18
Condo
0
2
1 6
23
All Sales
N/A 43.75%
32 | THE COMMERCIAL RECORD | APRIL 2016
N/A $320,750
N/A $339,500
N/A 5.85%
N/A $306,000
N/A $347,000
N/A 13.40%
Real estate & credit transactions updated every Thursday
www.commercialrecord.com • subscribers only
NUMBER OF SALES FEB 2015
FEB %CHG 2015 2016 15-16 YTD
2016 YTD
MEDIAN PRICE %CHG 15-16
FEB 2015
FEB %CHG 2015 2016 15-16 YTD
2016 %CHG YTD 15-16
NORWALK 1 Family
2 6
29
11.54%
67
71
5.97%
$455,000
$376,500
-17.25%
$445,000
$390,000 -12.36%
Condo
2 4
24
0.00%
42
38
-9.52%
$268,750
$226,500
-15.72%
$241,500
$285,000
18.01%
6 0
75
25.00%
133
143
7.52%
$370,500
$350,000
-5.53%
$371,000
$360,000
-2.96%
1 Family
4
6
50.00%
13
10
-23.08%
$560,000
$495,000
-11.61%
$635,000
$487,500 -23.23%
Condo
0
0
0
1
6
7
16.67%
15
14
-6.67%
$536,650
$520,000
All Sales
REDDING
All Sales
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
-3.10%
$635,000
$487,500 -23.23%
RIDGEFIELD 1 Family
1 4
19
35.71%
30
35
16.67%
$637,400
$575,000
-9.79%
$627,400
$572,500
-8.75%
Condo
3
8
166.67%
9
9
0.00%
$190,000
$242,500
27.63%
$190,000
$265,000
39.47%
1 9
29
52.63%
48
46
-4.17%
$523,000
$470,800
-9.98%
$515,000
$535,000
3.88%
1 Family
1 5
18
20.00%
33
33
0.00%
$272,000
$297,500
9.38%
$249,900
$298,000
19.25%
Condo
6
9
50.00%
12
15
25.00%
$223,500
$225,000
0.67%
$178,500
$210,000
17.65%
2 6
32
23.08%
57
54
-5.26%
$282,500
$297,500
5.31%
$271,000
$280,500
3.51%
33.33%
6
7
16.67%
$750,000
$465,500
-37.93%
$667,500
$435,000 -34.83%
0
0
All Sales
SHELTON
All Sales
SHERMAN 1 Family
3
4
Condo
0
0
3
4
33.33%
6
8
33.33%
$750,000
$465,500
-37.93%
$667,500
$395,500 -40.75%
All Sales
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
STAMFORD 1 Family
3 6
47
30.56%
66
93
40.91%
$440,000
$605,000
37.50%
$495,500
$575,743
Condo
3 0
34
13.33%
62
68
9.68%
$281,500
$335,000
19.01%
$275,750
$300,001
8.79%
99
17.86%
164
204
24.39%
$389,500
$470,000
20.67%
$390,000
$435,700
11.72%
-9.05%
All Sales
8 4
16.19%
STRATFORD 1 Family
2 9
37
27.59%
43
75
74.42%
$214,900
$206,900
-3.72%
$219,900
$200,000
Condo
1 0
8
-20.00%
17
18
5.88%
$188,500
$150,000
-20.42%
$190,000
$168,500 -11.32%
53
3.92%
81
114
40.74%
$214,900
$205,000
-4.61%
$220,000
$199,950
-9.11%
$340,000
$323,900
-4.74%
$337,550
$367,500
8.87%
N/A $325,000
$345,000
6.15%
All Sales
5 1
TRUMBULL 1 Family
1 2
20
66.67%
28
50
78.57%
Condo
2
2
0.00%
3
3
0.00%
1 7
23
35.29%
34
55
61.76%
$340,000
$345,000
1.47%
$331,050
$360,000
8.74%
1 Family
6
8
33.33%
15
11
-26.67%
$629,188
$575,450
-8.54%
$648,375
$586,000
-9.62%
Condo
0
0
0
0
7
8
14.29%
17
12
24
41.18%
33
0 -100.00%
2
All Sales
N/A
N/A
WESTON
All Sales
N/A
N/A
N/A
N/A
-29.41%
$648,375
$575,450
48
45.45%
$1,020,000
$1,261,250
6
200.00%
N/A -11.25%
N/A $690,000
N/A
N/A
$575,450 -16.60%
WESTPORT 1 Family
1 7
Condo
2
All Sales
N/A
N/A
23.65% $1,025,000 N/A
N/A
46.57% $1,022,500
$1,261,250
23.05%
$742,500
N/A
$1,237,500
21.03%
$829,000
-5.53%
$400,000
N/A
2 3
29
26.09%
42
63
50.00%
$1,020,000
$1,495,000
1 Family
1 1
5
-54.55%
18
9
-50.00%
$780,000
$550,000
Condo
0
1
2
3
50.00%
1 4
6
-57.14%
24
14
-41.67%
$820,000
$515,000
-37.20%
$877,500
$763,000 -13.05%
WILTON
All Sales
N/A
N/A
N/A
-29.49% N/A
$877,500 N/A
FAIRFIELD COUNTY 1 Family
3 60
416
15.56%
741
848
14.44%
$420,750
$395,000
-6.12%
$435,000
$399,450
-8.17%
Condo
1 44
155
7.64%
270
290
7.41%
$281,250
$265,000
-5.78%
$257,950
$246,000
-4.63%
13.46% 1,271
1,428
12.35%
$373,500
$350,000
-6.29%
$370,000
$350,000
-5.41%
All Sales
6 24
708
APRIL 2016 | THE COMMERCIAL RECORD | 33
TRENDLINES
HARTFORD COUNTY SALES REPORT
NUMBER OF SALES FEB 2015
FEB %CHG 2015 2016 15-16 YTD
2016 YTD
8 1 3 2 5
11 2 14
37.50% -84.62% -44.00%
23 23 51
2 4 7
11 3 16
450.00% -25.00% 128.57%
1 4 5 2 2
23 2 30
1 6 3 2 5
30 9 48
MEDIAN PRICE %CHG 15-16
FEB 2015
FEB %CHG 2015 2016 15-16 YTD
2016 %CHG YTD 15-16
21 8 30
-8.70% -65.22% -41.18%
$380,000 $172,500 $200,000
$402,000 5.79% N/A -100.00% $371,000 85.50%
7 5 16
17 4 23
142.86% -20.00% 43.75%
N/A $247,250 $182,000
$199,900 $200,000 $199,950
64.29% -60.00% 36.36%
27 5 35
34 6 46
25.93% 20.00% 31.43%
$160,450 $207,500 $180,750
$137,041 -14.59% N/A -100.00% $145,000 -19.78%
$156,900 $207,500 $177,000
$140,521 -10.44% $112,500 -45.78% $145,000 -18.08%
87.50% 200.00% 92.00%
38 9 65
53 11 85
39.47% 22.22% 30.77%
$162,750 $230,000 $164,900
$171,500 $112,000 $159,950
$177,250 $79,000 $163,500
$165,000 -6.91% $112,000 41.77% $147,000 -10.09%
-57.14% N/A -28.57%
15 0 17
5 1 8
-66.67% N/A -52.94%
$279,000 N/A $279,000
$247,000 -11.47% $279,000 N/A N/A N/A $247,000 -11.47% $260,000
$250,000 -10.39% N/A N/A $248,500 -4.42%
7 5 16
9 2 13
28.57% -60.00% -18.75%
$225,000 N/A $225,000
$290,848 29.27% $225,000 N/A N/A $142,000 $264,195 17.42% $212,450
$269,000 19.56% N/A - 100.00% $264,195 24.36%
0 0 2
5 1 8
N/A N/A 300.00%
N/A N/A $144,000
$295,000 N/A $233,950
7.41% -25.00% -6.82%
49 6 75
58 6 84
18.37% 0.00% 12.00%
-71.43% N/A -44.44%
10 3 16
6 1 12
-40.00% -66.67% -25.00%
AVON 1 Family Condo All Sales
$390,000 $182,000 $278,000
$380,000 $206,250 $305,000
-2.56% 13.32% 9.71%
N/A $182,000 -19.11% $215,000 9.86% $220,000
$215,000 $202,500 $210,000
18.13% -5.81% -4.55%
BERLIN 1 Family Condo All Sales
BLOOMFIELD 1 Family Condo All Sales
BRISTOL 1 Family Condo All Sales
5.38% -51.30% -3.00%
BURLINGTON 1 Family Condo All Sales
7 0 7
3 1 5
4 1 6
4 0.00% 0 -100.00% 5 -16.67%
CANTON 1 Family Condo All Sales
EAST GRANBY 1 Family Condo All Sales
0 0 0
2 0 3
N/A N/A N/A
N/A N/A N/A
N/A N/A N/A
N/A N/A N/A
N/A N/A N/A
EAST HARTFORD 1 Family Condo All Sales
2 7 4 4 4
29 3 41
$120,000 $53,750 $119,250
$135,000 12.50% $186,000 246.05% $120,000 0.63%
$126,500 $47,750 $120,000
$140,825 11.32% $157,301 229.43% $137,000 14.17%
N/A -100.00% $134,863 N/A N/A $157,000 $47,000 -62.40% $147,363
$145,000 7.52% N/A - 100.00% $94,500 -35.87%
EAST WINDSOR 1 Family Condo All Sales
7 0 9
2 1 5
$125,000 N/A $125,000
2 3 1 0 3 4
29 6 39
26.09% -40.00% 14.71%
43 13 60
51 12 73
18.60% -7.69% 21.67%
$160,000 $143,500 $154,875
$159,900 $125,000 $155,000
-0.06% -12.89% 0.08%
$162,000 $138,000 $155,875
$159,900 -1.30% $119,000 -13.77% $147,900 -5.12%
17 8 27
112.50% -11.11% 50.00%
14 13 31
35 22 60
150.00% 69.23% 93.55%
$335,750 $150,000 $247,500
$337,000 $180,450 $330,000
0.37% 20.30% 33.33%
$319,500 $225,000 $315,000
$307,500 -3.76% $175,000 -22.22% $251,000 -20.32%
1 4 8 2 8
25 7 36
78.57% -12.50% 28.57%
31 13 56
42 17 66
35.48% 30.77% 17.86%
$302,500 $173,500 $292,450
$335,000 $192,000 $276,000
10.74% 10.66% -5.62%
$310,000 $178,000 $300,000
$326,000 $192,000 $275,000
6 2 8
8 33.33% 0 -100.00% 13 62.50%
11 3 14
14 1 22
27.27% -66.67% 57.14%
$203,000 N/A $176,750
$262,000 29.06% $235,000 N/A N/A $175,500 $251,000 42.01% $179,000
$233,500 -0.64% N/A - 100.00% $212,950 18.97%
17 10 62
32 17 89
36 18 119
12.50% 5.88% 33.71%
$80,000 $38,500 $96,000
$109,000 $48,750 $109,556
$93,850 9.13% $30,750 -33.15% $110,000 0.92%
1 0 1
5 0 6
ENFIELD 1 Family Condo All Sales
FARMINGTON 1 Family Condo All Sales
8 9 1 8
GLASTONBURY 1 Family Condo All Sales
5.16% 7.87% -8.33%
GRANBY 1 Family Condo All Sales
HARTFORD 1 Family Condo All Sales
9 6 3 2
88.89% 66.67% 93.75%
36.25% 26.62% 14.12%
$86,000 $46,000 $109,000
HARTLAND 1 Family Condo All Sales
0 0 0
3 0 4
N/A N/A N/A
400.00% N/A 500.00%
34 | THE COMMERCIAL RECORD | APRIL 2016
N/A N/A N/A
$290,000 N/A $262,500
N/A N/A N/A
N/A N/A N/A
$286,000 N/A $280,000
N/A N/A N/A
Real estate & credit transactions updated every Thursday
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NUMBER OF SALES FEB 2015
FEB %CHG 2015 2016 15-16 YTD
2016 YTD
MEDIAN PRICE %CHG 15-16
FEB 2015
FEB %CHG 2015 2016 15-16 YTD
2016 %CHG YTD 15-16
15.22% 162.50% 43.94%
$160,000 $65,000 $154,000
$163,000 $116,000 $164,950
N/A N/A $340,000
$211,150 N/A $180,000 N/A N/A N/A $211,150 -37.90% $180,000
$291,000 61.67% N/A N/A $287,000 59.44%
MANCHESTER 1 Family Condo All Sales
2 5 3 3 5
29 14 56
16.00% 366.67% 60.00%
46 8 66
53 21 95
5 0 7
8 0 9
1.88% 78.46% 7.11%
$154,500 $96,000 $152,000
$164,000 $117,000 $164,000
6.15% 21.88% 7.89%
MARLBOROUGH 1 Family Condo All Sales
2 0 3
4 0 4
100.00% N/A 33.33%
60.00% N/A 28.57%
NEW BRITAIN 1 Family Condo All Sales
1 7 1 1 4 2
37 7 64
117.65% -36.36% 52.38%
46 13 87
57 12 109
23.91% -7.69% 25.29%
$95,900 $48,000 $85,500
$134,000 $50,000 $131,750
39.73% 4.17% 54.09%
$123,950 $48,000 $120,000
$134,000 $59,050 $124,900
8.11% 23.02% 4.08%
9 12 28
-10.00% 200.00% 47.37%
22 6 36
27 17 53
22.73% 183.33% 47.22%
$199,500 $85,500 $172,500
$216,000 $165,250 $180,500
8.27% 93.27% 4.64%
$187,000 $109,500 $178,250
$194,000 $147,000 $178,000
3.74% 34.25% -0.14%
4 1 10
0.00% -50.00% 42.86%
11 5 21
8 5 24
-27.27% 0.00% 14.29%
$133,000 N/A $151,000
$166,000 24.81% $190,000 N/A N/A $230,000 $162,500 7.62% $195,388
$197,500 3.95% $143,000 -37.83% $162,500 -16.83%
12 12 26
50.00% 50.00% 52.94%
16 10 29
18 18 39
12.50% 80.00% 34.48%
$252,500 $221,000 $221,000
$243,450 $149,250 $195,500
-3.58% -32.47% -11.54%
$252,500 $179,250 $221,000
$243,450 -3.58% $139,000 -22.45% $193,000 -12.67%
13 7 21
0.00% 133.33% 31.25%
28 6 35
24 10 36
-14.29% 66.67% 2.86%
$343,000 $153,000 $268,500
$262,500 $132,500 $210,000
-23.47% -13.40% -21.79%
$309,000 $174,000 $270,000
$268,750 -13.03% $136,250 -21.70% $247,500 -8.33%
11 3 16
10.00% 200.00% 6.67%
17 6 29
30 9 44
76.47% 50.00% 51.72%
$273,250 N/A $240,500
$253,000 $159,000 $254,000
-7.41% $280,000 N/A $118,081 5.61% $212,500
$251,500 -10.18% $150,000 27.03% $251,500 18.35%
1 7 4 2 5
20 6 37
17.65% 50.00% 48.00%
31 6 59
41 13 73
32.26% 116.67% 23.73%
$235,000 $172,750 $229,900
$280,500 $227,500 $275,000
19.36% 31.69% 19.62%
$250,000 7.76% $129,000 -20.98% $225,000 0.00%
8 2 1 3
4 4 12
-50.00% 100.00% -7.69%
13 4 22
10 8 26
-23.08% 100.00% 18.18%
$252,500 N/A $230,000
$243,750 $182,500 $182,500
-3.47% $220,000 N/A $136,500 -20.65% $214,500
$211,950 $182,500 $194,000
15.15% 66.67% 43.90%
53 11 70
77 20 111
45.28% 81.82% 58.57%
$263,600 $228,500 $259,000
$323,500 $142,500 $299,900
22.72% -37.64% 15.79%
$259,000 $255,000 $254,200
$312,000 20.46% $132,250 -48.14% $287,000 12.90%
1 9 1 2 3
17 -10.53% 0 -100.00% 18 -21.74%
35 5 47
39 1 44
11.43% -80.00% -6.38%
$192,000 N/A $190,000
$232,000 20.83% $190,000 N/A N/A $159,000 $238,500 25.53% $181,000
$232,000 22.11% N/A - 100.00% $230,000 27.07%
1 5 3 2 0
16 4 25
6.67% 33.33% 25.00%
29 6 40
38 13 58
31.03% 116.67% 45.00%
$170,000 $95,000 $166,500
$164,200 $175,750 $169,000
-3.41% 85.00% 1.50%
$172,000 $150,000 $172,000
10 2 14
400.00% N/A 250.00%
8 3 15
21 6 34
162.50% 100.00% 126.67%
N/A N/A $184,250
$166,500 N/A $174,000
N/A $146,950 N/A $160,000 -5.56% $168,000
33.54% 668 18.58% 204 35.41% 1,107
842 263 1,410
26.05% 28.92% 27.37%
$190,000 $150,000 $175,000
$193,895 $131,500 $178,000
NEWINGTON 1 Family Condo All Sales
1 0 4 1 9
PLAINVILLE 1 Family Condo All Sales
4 2 7
ROCKY HILL 1 Family Condo All Sales
8 8 1 7
SIMSBURY 1 Family Condo All Sales
1 3 3 1 6
SOUTH WINDSOR 1 Family Condo All Sales
1 0 1 1 5
SOUTHINGTON 1 Family Condo All Sales
$232,000 $163,250 $225,000
SUFFIELD 1 Family Condo All Sales
-3.66% 33.70% -9.56%
WEST HARTFORD 1 Family Condo All Sales
3 3 6 4 1
38 10 59
WETHERSFIELD 1 Family Condo All Sales
WINDSOR 1 Family Condo All Sales
$166,000 $97,000 $157,550
3.61% 54.64% 9.17%
WINDSOR LOCKS 1 Family Condo All Sales
2 0 4
$160,000 8.88% $127,950 -20.03% $169,000 0.60%
HARTFORD COUNTY 1 Family Condo All Sales
3 28 1 13 5 45
438 134 738
2.05% -12.33% 1.71%
$184,000 $150,000 $175,500
$196,000 6.52% $135,000 -10.00% $177,250 1.00%
APRIL 2016 | THE COMMERCIAL RECORD | 35
TRENDLINES
LITCHFIELD COUNTY SALES REPORT
NUMBER OF SALES FEB 2015
FEB %CHG 2015 2016 15-16 YTD
MEDIAN PRICE
2016 YTD
%CHG 15-16
FEB 2015
FEB %CHG 2015 2016 15-16 YTD
2016 %CHG YTD 15-16
BARKHAMSTED 1 Family Condo All Sales
2 0 2
1 0 1
-50.00% N/A -50.00%
4 0 5
3 0 4
-25.00% N/A -20.00%
N/A N/A N/A
N/A N/A N/A
N/A $210,000 N/A N/A N/A $225,000
$214,150 1.98% N/A N/A $237,075 5.37%
0 -100.00% 0 N/A 2 -33.33%
3 0 4
3 0 5
0.00% N/A 25.00%
N/A N/A $312,000
N/A N/A $312,000 N/A N/A N/A N/A -100.00% $319,500
$154,900 -50.35% N/A N/A $154,900 -51.52%
0 0 0
0 0 3
N/A N/A N/A
2 0 2
1 0 4
-50.00% N/A 100.00%
N/A N/A N/A
N/A N/A $627,000
N/A N/A N/A
N/A N/A N/A
N/A N/A $478,500
N/A N/A N/A
1 0 1
1 0 1
0.00% N/A 0.00%
1 0 2
1 0 1
0.00% N/A -50.00%
N/A N/A N/A
N/A N/A N/A
N/A N/A N/A
N/A N/A N/A
N/A N/A N/A
N/A N/A N/A
0 N/A 0 N/A 0 -100.00%
0 0 1
1 0 1
N/A N/A 0.00%
N/A N/A N/A
N/A N/A N/A
N/A N/A N/A
N/A N/A N/A
N/A N/A N/A
N/A N/A N/A
0 0 0
1 0 1
N/A N/A N/A
0 0 0
3 0 3
N/A N/A N/A
N/A N/A N/A
N/A N/A N/A
N/A N/A N/A
N/A N/A N/A
$295,000 N/A $295,000
N/A N/A N/A
1 0 2
3 0 3
200.00% N/A 50.00%
2 0 5
6 0 7
200.00% N/A 40.00%
N/A N/A N/A
$235,000 N/A $235,000
N/A N/A N/A N/A N/A $194,000
$223,500 N/A N/A N/A $212,000 9.28%
1 0 1
5 0 7
400.00% N/A 600.00%
5 0 7
9 1 12
80.00% N/A 71.43%
N/A N/A N/A
$250,000 N/A $212,500
N/A $189,000 N/A N/A N/A $185,500
$280,000 48.15% N/A N/A $267,500 44.20%
4 0 4
3 2 8
-25.00% N/A 100.00%
7 0 8
4 2 9
-42.86% N/A 12.50%
$560,000 N/A $560,000
$455,000 -18.75% $555,000 N/A N/A N/A $400,000 -28.57% $537,500
$415,000 -25.23% N/A N/A $375,000 -30.23%
N/A N/A $375,000
$272,500 N/A $275,000 N/A N/A N/A $278,750 -25.67% $325,000
$257,250 -6.45% N/A N/A $242,000 -25.54%
BETHLEHEM 1 Family Condo All Sales
2 0 3
BRIDGEWATER 1 Family Condo All Sales
CANAAN 1 Family Condo All Sales
COLEBROOK 1 Family Condo All Sales
0 0 1
CORNWALL 1 Family Condo All Sales
GOSHEN 1 Family Condo All Sales
HARWINTON 1 Family Condo All Sales
KENT 1 Family Condo All Sales
LITCHFIELD 1 Family Condo All Sales
2 1 5
5 150.00% 0 -100.00% 8 60.00%
5 1 8
8 0 13
60.00% -100.00% 62.50%
5 0 7
1 0 1
-80.00% N/A -85.71%
6 0 8
1 0 1
-83.33% N/A -87.50%
$222,000 N/A $222,000
N/A -100.00% $222,000 N/A N/A N/A N/A -100.00% $222,000
N/A - 100.00% N/A N/A N/A - 100.00%
2 1 4
-50.00% 0.00% -55.56%
6 1 14
5 1 9
-16.67% 0.00% -35.71%
$134,000 N/A $135,000
N/A -100.00% $142,500 N/A N/A N/A $83,450 -38.19% $131,000
$206,000 44.56% N/A N/A $206,000 57.25%
1 2 8 2 1
16 6 30
33.33% -25.00% 42.86%
22 13 43
33 9 55
50.00% -30.77% 27.91%
$254,500 $96,250 $133,100
1 0 3
1 0 1
1 0 3
3 0 4
200.00% N/A 33.33%
N/A N/A N/A N/A N/A N/A N/A N/A $174,000 -100.00% $174,000
MORRIS 1 Family Condo All Sales
NEW HARTFORD 1 Family Condo All Sales
4 1 9
NEW MILFORD 1 Family Condo All Sales
$253,250 $59,500 $207,500
-0.49% -38.18% 55.90%
$229,250 $95,000 $165,000
$250,000 $148,500 $210,000
9.05% 56.32% 27.27%
NORFOLK 1 Family Condo All Sales
0.00% N/A -66.67%
36 | THE COMMERCIAL RECORD | APRIL 2016
$200,000 N/A N/A N/A $198,250 13.94%
Real estate & credit transactions updated every Thursday
www.commercialrecord.com • subscribers only
NUMBER OF SALES FEB 2015
FEB %CHG 2015 2016 15-16 YTD
2016 YTD
MEDIAN PRICE %CHG 15-16
FEB 2015
FEB %CHG 2015 2016 15-16 YTD
2016 %CHG YTD 15-16
NORTH CANAAN 1 Family
1
3
Condo
0
0
1
4
All Sales
200.00%
1
4
0
0
300.00%
3
8
166.67%
-60.00%
11
6
-45.45%
0
3
15
13
-13.33% 0.00%
N/A
300.00% N/A
N/A N/A N/A
$149,000 N/A $142,000
N/A
N/A
N/A
N/A
N/A $132,812
$154,500 N/A
N/A N/A
$155,000
16.71%
$162,000
$170,450
5.22%
N/A
$140,000
N/A
$157,500
-2.78%
PLYMOUTH 1 Family
5
2
Condo
0
0
5
5
1 Family
0
1
N/A
3
3
Condo
0
0
N/A
0
0
3
3
0.00%
9
7
-22.22%
0.00%
6
2
-66.67%
0
0
All Sales
N/A 0.00%
$162,000
N/A -100.00%
N/A $162,000
$154,000
-4.94%
$162,000
ROXBURY
All Sales
N/A
N/A
N/A
N/A $356,000
N/A
N/A
N/A
$139,000
$2,400,000 1626.62%
N/A $205,000
$2,400,000 574.16% N/A
N/A
$900,000 339.02%
SALISBURY 1 Family
1
1
Condo
0
0
3
1
-66.67%
9
2
-77.78%
$1,250,000
1 Family
3
3
0.00%
4
5
25.00%
$290,000
Condo
0
0
0
0
3
4
33.33%
7
6
50.00%
8 1
All Sales
N/A
N/A
N/A
N/A
N/A $456,000
N/A -100.00%
N/A
N/A
N/A
N/A
N/A
N/A -100.00% $1,250,000
N/A
N/A -100.00%
SHARON
All Sales
N/A
N/A
N/A
$305,000 N/A
5.17% N/A
$252,500 N/A
$305,000 N/A
20.79% N/A
-14.29%
$290,000
$290,000
0.00%
$215,000
$290,000
34.88%
7
-12.50%
$124,950
$225,000
80.07%
$230,850
$205,000 -11.20%
0
-100.00%
8
-11.11%
$124,950
$205,000
64.07%
$215,000
$180,000 -16.28%
$79,500
$125,000
57.23%
$115,000
$125,000
8.70%
$75,250
$86,000
14.29%
$105,000
$107,500
2.38%
THOMASTON 1 Family
4
6
Condo
0
0
4
7
75.00%
9
All Sales
N/A
N/A
N/A
N/A
N/A
N/A
N/A
TORRINGTON 1 Family
1 8
25
38.89%
35
39
11.43%
Condo
2
3
50.00%
8
10
25.00%
2 3
40
73.91%
49
66
34.69%
1 Family
1
1
0.00%
1
2
100.00%
Condo
0
0
0
0
3
1
-66.67%
3
4
-25.00%
7
7
0.00%
1
0
-100.00% -20.00%
$1,735,000
$242,500
-86.02%
$360,000
$460,000
27.78%
$173,000
$184,350
6.56%
$164,000
$188,700
15.06%
All Sales
N/A $77,000
$75,000 $101,500
N/A 31.82%
WARREN
All Sales
N/A
N/A 33.33%
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
$72,500 -100.00%
$72,500
$227,500 213.79%
$670,000
$500,000 -25.37%
WASHINGTON 1 Family
4
3
Condo
0
0
4
4
0.00%
10
8
12
0.00%
18
25
38.89%
0 -100.00%
2
4
100.00%
All Sales
N/A
$1,735,000 N/A
$250,000 N/A
-85.59% N/A
N/A
N/A
N/A
WATERTOWN 1 Family
1 2
Condo
1
All Sales
1 9
N/A
N/A
N/A
N/A
$170,000
N/A
13
-31.58%
26
32
23.08%
$158,000
$180,000
13.92%
$158,000
$182,500
15.51%
166.67%
6
16
166.67%
$92,500
$96,500
4.32%
$124,500
$116,500
-6.43%
0
2
WINCHESTER 1 Family
3
8
Condo
0
1
6
11
83.33%
9
25
All Sales
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
177.78%
$111,250
$113,000
1.57%
$128,500
$113,000 -12.06%
$310,000
24.00%
$250,000
$310,000
N/A -100.00%
$147,000
$114,000 -22.45%
WOODBURY 1 Family
3
7
133.33%
7
11
57.14%
$250,000
Condo
4
2
-50.00%
9
3
-66.67%
$92,000
9
10
11.11%
20
18
-10.00%
$229,000
$296,250
29.37%
$172,750
$269,500
All Sales
24.00% 56.01%
LITCHFIELD COUNTY 1 Family
9 0
111
23.33%
171
208
21.64%
$179,750
$205,000
14.05%
$190,000
$205,000
7.89%
Condo
1 7
15
-11.76%
36
35
-2.78%
$95,000
$97,000
2.11%
$96,250
$120,000
24.68%
1 42
173
21.83%
279
325
16.49%
$163,500
$170,000
3.98%
$173,000
$170,000
-1.73%
All Sales
APRIL 2016 | THE COMMERCIAL RECORD | 37
TRENDLINES
MIDDLESEX COUNTY SALES REPORT
NUMBER OF SALES FEB 2015
FEB %CHG 2015 2016 15-16 YTD
MEDIAN PRICE
2016 YTD
%CHG 15-16
FEB 2015
FEB %CHG 2015 2016 15-16 YTD
2016 %CHG YTD 15-16
CHESTER 1 Family Condo All Sales
2 0 3
8 0 8
300.00% N/A 166.67%
6 0 7
11 0 12
83.33% N/A 71.43%
N/A N/A $248,000
$268,500 N/A $268,500
N/A $350,000 N/A N/A 8.27% $325,000
$262,000 -25.14% N/A N/A $243,500 -25.08%
1 6 3 1 9
10 2 13
-37.50% -33.33% -31.58%
21 4 28
21 4 32
0.00% 0.00% 14.29%
$240,000 $113,000 $240,000
$225,500 -6.04% N/A -100.00% $216,000 -10.00%
$240,000 $108,000 $226,250
$248,000 3.33% $79,500 -26.39% $225,500 -0.33%
7 3 13
40.00% -25.00% 44.44%
8 13 27
17 10 30
112.50% -23.08% 11.11%
$216,000 $138,500 $142,000
$255,000 $90,000 $210,000
$205,500 $135,500 $153,000
$210,000 $138,000 $188,450
6 1 8
6 0.00% 0 -100.00% 6 -25.00%
8 2 11
12 1 15
50.00% -50.00% 36.36%
$233,250 N/A $233,250
$280,900 20.43% $237,500 N/A N/A N/A $280,900 20.43% $230,000
$233,750 -1.58% N/A N/A $235,000 2.17%
0 0 1
4 0 4
N/A N/A 300.00%
3 1 6
10 1 11
233.33% 0.00% 83.33%
N/A N/A N/A
$269,500 N/A $269,500
N/A $265,000 N/A N/A N/A $221,250
$194,950 -26.43% N/A N/A $195,000 -11.86%
8 1 10
60.00% N/A 42.86%
6 0 8
11 1 15
$227,005 N/A $110,250
$259,500 14.31% $228,503 N/A N/A N/A $260,500 136.28% $168,628
$228,000 -0.22% N/A N/A $228,000 35.21% $271,500 7.52% N/A - 100.00% $271,500 41.41%
CLINTON 1 Family Condo All Sales
CROMWELL 1 Family Condo All Sales
5 4 9
18.06% -35.02% 47.89%
2.19% 1.85% 23.17%
DEEP RIVER 1 Family Condo All Sales
DURHAM 1 Family Condo All Sales
EAST HADDAM 1 Family Condo All Sales
5 0 7
83.33% N/A 87.50%
EAST HAMPTON 1 Family Condo All Sales
8 3 1 3
12 1 17
50.00% -66.67% 30.77%
14 3 19
20 1 26
42.86% -66.67% 36.84%
$252,500 $146,000 $192,000
$252,500 0.00% N/A -100.00% $260,000 35.42%
$252,500 $146,000 $192,000
2 0 3
9 0 11
350.00% N/A 266.67%
5 0 7
11 3 19
120.00% N/A 171.43%
N/A N/A $570,000
$290,000 N/A $424,000 N/A N/A N/A $290,000 -49.12% $424,000
$290,000 -31.60% $215,000 N/A $260,000 -38.68%
8 0 1 0
8 0 10
0.00% N/A 0.00%
8 0 10
12 0 14
50.00% N/A 40.00%
$289,950 N/A $289,950
$200,500 -30.85% $289,950 N/A N/A N/A $206,575 -28.75% $289,950
$235,500 -18.78% N/A N/A $218,000 -24.81%
4 0 5
N/A N/A 400.00%
5 0 7
6 0 7
20.00% N/A 0.00%
N/A N/A N/A
$227,500 N/A $230,000
N/A $334,500 N/A N/A N/A $385,000
$275,000 -17.79% N/A N/A $320,000 -16.88%
1 1 2
0.00% N/A 0.00%
4 0 6
4 1 6
0.00% N/A 0.00%
N/A N/A N/A
N/A N/A N/A
N/A $187,000 N/A N/A N/A $222,450
$233,750 25.00% N/A N/A $291,000 30.82%
ESSEX 1 Family Condo All Sales
HADDAM 1 Family Condo All Sales
KILLINGWORTH 1 Family Condo All Sales
0 0 1
MIDDLEFIELD 1 Family Condo All Sales
1 0 2
MIDDLETOWN 1 Family Condo All Sales
1 0 8 2 2
15 15 37
50.00% 87.50% 68.18%
20 13 44
30 21 62
50.00% 61.54% 40.91%
$207,900 $114,000 $173,875
$229,000 $108,000 $130,000
4 1 6
-50.00% N/A -25.00%
16 1 19
8 3 18
4 1 6
33.33% N/A 100.00%
11 1 13
12 1 17
10.15% -5.26% -25.23%
$192,950 $105,000 $173,875
$192,500 -0.23% $120,000 14.29% $146,000 -16.03%
-50.00% 200.00% -5.26%
$357,500 N/A $357,500
$275,000 -23.08% $332,500 N/A N/A N/A $275,000 -23.08% $315,000
$370,725 11.50% $236,000 N/A $236,000 -25.08%
9.09% 0.00% 30.77%
$123,000 N/A $123,000
$300,500 144.31% $169,400 N/A N/A N/A $299,200 143.25% $182,000
$214,100 26.39% N/A N/A $230,000 26.37%
OLD SAYBROOK 1 Family Condo All Sales
8 0 8
PORTLAND 1 Family Condo All Sales
3 0 3
38 | THE COMMERCIAL RECORD | APRIL 2016
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NUMBER OF SALES FEB 2015
FEB %CHG 2015 2016 15-16 YTD
2016 YTD
MEDIAN PRICE %CHG 15-16
FEB 2015
FEB %CHG 2015 2016 15-16 YTD
2016 %CHG YTD 15-16
WESTBROOK 1 Family Condo All Sales
0 0 0
5 1 7
N/A N/A N/A
0 0 0
10 1 13
135 38 212
195 48 297
N/A N/A N/A
N/A N/A N/A
$340,000 N/A $340,000
N/A N/A N/A
N/A N/A N/A
$317,500 N/A $295,000
N/A N/A N/A
MIDDLESEX COUNTY 1 Family Condo All Sales
7 4 1 9 1 09
105 26 155
41.89% 36.84% 42.20%
44.44% 26.32% 40.09%
$240,000 $124,000 $225,000
$245,000 $120,000 $230,000
2.08% -3.23% 2.22%
$242,000 $123,250 $220,450
$240,000 $128,950 $225,000
-0.83% 4.62% 2.06%
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APRIL 2016 | THE COMMERCIAL RECORD | 39
TRENDLINES
NEW HAVEN COUNTY SALES REPORT
NUMBER OF SALES FEB 2015
FEB %CHG 2015 2016 15-16 YTD
MEDIAN PRICE
2016 YTD
%CHG 15-16 63.64% N/A 57.89%
FEB 2015
FEB %CHG 2015 2016 15-16 YTD
2016 %CHG YTD 15-16
ANSONIA 1 Family Condo All Sales
6 0 1 2
16 1 23
166.67% N/A 91.67%
11 0 19
18 1 30
5 1 6
2 1 3
-60.00% 0.00% -50.00%
7 1 10
6 3 10
2 0 2
1 0 1
-50.00% N/A -50.00%
4 0 4
3 0 3
-25.00% N/A -25.00%
$176,250 N/A $165,000
$141,575 -19.67% $165,000 N/A N/A N/A $137,000 -16.97% $160,550
$133,500 -19.09% N/A N/A $132,500 -17.47%
$200,000 N/A $225,500
N/A -100.00% $210,000 N/A N/A N/A $325,000 44.12% $205,000
$197,250 $308,699 $311,200
BEACON FALLS 1 Family Condo All Sales
-14.29% 200.00% 0.00%
-6.07% N/A 51.80%
BETHANY 1 Family Condo All Sales
N/A N/A N/A
N/A N/A N/A
N/A $326,000 N/A N/A N/A $326,000
$340,000 4.29% N/A N/A $340,000 4.29%
BRANFORD 1 Family Condo All Sales
1 2 6 2 9
14 12 30
16.67% 100.00% 3.45%
24 20 59
26 23 58
8.33% 15.00% -1.69%
$333,500 $135,250 $295,000
$318,500 $151,250 $227,000
-4.50% 11.83% -23.05%
$304,100 $144,750 $250,000
$354,500 $148,500 $244,125
16.57% 2.59% -2.35%
2 3 6 3 2
15 6 24
-34.78% 0.00% -25.00%
35 8 49
30 11 50
-14.29% 37.50% 2.04%
$250,000 $128,750 $227,500
$305,000 $165,500 $281,250
22.00% 28.54% 23.63%
$315,000 $113,750 $248,000
$276,250 -12.30% $180,000 58.24% $267,000 7.66%
5 2 9
6 3 13
20.00% 50.00% 44.44%
10 6 18
11 5 29
10.00% -16.67% 61.11%
$125,000 N/A $125,000
$217,500 $212,500 $215,000
74.00% $155,500 N/A $85,000 72.00% $128,000
21 5 30
40.00% 150.00% 50.00%
27 5 38
42 10 60
55.56% 100.00% 57.89%
$160,500 N/A $155,750
$145,000 $96,250 $139,500
-9.66% $170,000 N/A $145,000 -10.43% $180,500
$161,950 -4.74% $95,625 -34.05% $144,500 -19.94%
9 2 1 5
13 1 17
44.44% -50.00% 13.33%
22 6 33
33 2 38
50.00% -66.67% 15.15%
$300,000 N/A $375,000
$325,000 8.33% $302,500 N/A N/A $276,750 $307,500 -18.00% $305,000
$299,900 -0.86% N/A - 100.00% $291,500 -4.43%
2 3 6 3 1
29 11 47
26.09% 83.33% 51.61%
48 11 68
69 16 98
43.75% 45.45% 44.12%
$165,000 $78,000 $160,000
$157,735 $97,500 $148,000
-4.40% 25.00% -7.50%
$170,000 $96,250 $158,368
1 2 0 1 2
17 2 23
41.67% N/A 91.67%
19 0 19
31 4 39
63.16% N/A 105.26%
$418,938 N/A $418,938
$435,000 N/A $405,000
3.83% $417,875 N/A N/A -3.33% $417,875
2 4 6 4 1
28 12 53
16.67% 100.00% 29.27%
37 10 70
62 22 105
67.57% 120.00% 50.00%
$152,500 $76,000 $114,900
$126,000 $118,500 $125,000
-33.33% N/A 0.00%
5 1 10
6 1 11
20.00% 0.00% 10.00%
$303,000 N/A $289,000
N/A -100.00% $303,000 N/A N/A N/A $363,755 25.87% $265,000
$425,000 40.26% N/A N/A $357,510 34.91%
CHESHIRE 1 Family Condo All Sales
DERBY 1 Family Condo All Sales
$215,000 $111,000 $200,000
38.26% 30.59% 56.25%
EAST HAVEN 1 Family Condo All Sales
1 5 2 2 0
GUILFORD 1 Family Condo All Sales
HAMDEN 1 Family Condo All Sales
$165,548 $104,000 $165,548
2.69% -7.45% -4.34%
MADISON 1 Family Condo All Sales
$405,000 -3.08% $225,500 N/A $365,000 -12.65%
MERIDEN 1 Family Condo All Sales
-17.38% 55.92% 8.79%
$145,000 $81,590 $108,750
$127,450 -12.10% $60,550 -25.79% $120,000 10.34%
MIDDLEBURY 1 Family Condo All Sales
3 0 6
2 1 6
1 6 1 3 3 1
46 11 62
187.50% -15.38% 100.00%
32 27 72
78 18 108
143.75% -33.33% 50.00%
$273,000 $175,000 $255,000
$267,500 $147,500 $245,500
-2.01% -15.71% -3.73%
$264,500 $180,000 $237,500
$279,000 5.48% $157,750 -12.36% $270,000 13.68%
16 3 26
60.00% -57.14% 36.84%
25 7 37
23 4 39
-8.00% -42.86% 5.41%
$186,975 $92,500 $150,000
$159,350 $75,000 $144,000
-14.77% -18.92% -4.00%
$168,500 $92,500 $150,000
$140,000 -16.91% $72,000 -22.16% $140,000 -6.67%
MILFORD 1 Family Condo All Sales
NAUGATUCK 1 Family Condo All Sales
1 0 7 1 9
40 | THE COMMERCIAL RECORD | APRIL 2016
Real estate & credit transactions updated every Thursday
www.commercialrecord.com • subscribers only
NUMBER OF SALES FEB 2015
FEB %CHG 2015 2016 15-16 YTD
MEDIAN PRICE
2016 YTD
%CHG 15-16
FEB 2015
FEB %CHG 2015 2016 15-16 YTD
2016 %CHG YTD 15-16
NEW HAVEN 1 Family Condo All Sales
2 4 8 5 0
24 10 73
0.00% 25.00% 46.00%
48 18 108
50 18 134
4.17% 0.00% 24.07%
$150,000 $86,500 $132,500
$126,450 $117,250 $131,000
-15.70% 35.55% -1.13%
6 3 10
100.00% N/A 233.33%
9 1 11
16 4 21
77.78% 300.00% 90.91%
$315,000 N/A $315,000
$290,055 $170,000 $218,750
4 1 8
9 3 17
125.00% 200.00% 112.50%
18 1 24
22 5 39
22.22% 400.00% 62.50%
$176,625 N/A $176,625
6 1 9
8 33.33% 0 -100.00% 10 11.11%
17 2 22
17 0 21
0.00% -100.00% -4.55%
1 1 5
4 1 11
300.00% 0.00% 120.00%
6 2 14
11 3 23
5 5 11
-37.50% N/A 10.00%
10 1 14
9 2 18
0.00% 0.00% 28.57%
8 12 26
$140,000 $125,000 $140,000
$133,000 $126,500 $140,000
-5.00% 1.20% 0.00%
-7.92% $247,500 N/A N/A -30.56% $240,000
$257,250 $160,000 $240,000
3.94% N/A 0.00%
$257,500 $145,000 $257,500
45.79% $247,000 N/A N/A 45.79% $256,000
$239,500 $168,000 $235,000
-3.04% N/A -8.20%
$315,000 N/A $372,000
$298,500 N/A $335,000
-5.24% $290,000 N/A N/A -9.95% $312,500
$340,000 17.24% N/A N/A $400,000 28.00%
83.33% 50.00% 64.29%
N/A N/A $280,000
$204,750 N/A $320,000 N/A N/A N/A $310,000 10.71% $367,500
$233,000 -27.19% $345,565 N/A $335,000 -8.84%
11 5 17
10.00% 400.00% 21.43%
$251,000 N/A $263,500
$327,750 $403,404 $369,900
$327,750 $403,404 $338,900
11 4 21
18 6 33
63.64% 50.00% 57.14%
$173,200 N/A $193,151
$192,000 10.85% $173,200 N/A N/A $170,450 $144,888 -24.99% $205,900
$196,000 13.16% $86,000 -49.55% $159,900 -22.34%
33.33% 100.00% 85.71%
10 9 25
19 25 51
90.00% 177.78% 104.00%
$275,500 $122,750 $177,500
$347,500 $164,500 $191,250
$255,000 $110,000 $195,000
$335,000 $125,000 $200,000
31.37% 13.64% 2.56%
18 2 26
28.57% 0.00% 18.18%
30 11 55
38 10 58
26.67% -9.09% 5.45%
$200,000 N/A $200,000
$211,000 N/A $218,500
5.50% $231,000 N/A $158,000 9.25% $208,000
$223,500 $178,500 $223,500
-3.25% 12.97% 7.45%
60 9 96
27.66% -18.18% 21.52%
81 22 152
102 20 174
25.93% -9.09% 14.47%
$96,000 $66,300 $83,055
$94,400 $62,299 $84,000
-1.67% -6.03% 1.14%
$96,500 $57,500 $80,575
$89,450 $61,150 $86,450
-7.31% 6.35% 7.29%
32 6 49
52.38% 0.00% 53.13%
36 12 62
55 9 84
52.78% -25.00% 35.48%
$156,000 $85,750 $132,500
$170,000 $71,250 $170,000
8.97% -16.91% 28.30%
$162,450 $70,050 $141,213
$162,000 $72,000 $170,000
-0.28% 2.78% 20.39%
8 1 12
0.00% N/A 33.33%
18 1 22
13 1 19
-27.78% 0.00% -13.64%
$157,425 N/A $154,000
$182,000 15.61% $170,425 N/A N/A N/A $182,000 18.18% $157,425
$180,000 5.62% N/A N/A $173,000 9.89%
6 0 6
0.00% N/A -25.00%
11 0 14
13 0 15
18.18% N/A 7.14%
$343,500 N/A $402,500
$335,000 -2.47% $320,000 N/A N/A N/A $335,000 -16.77% $360,000
$376,000 17.50% N/A N/A $376,000 4.44%
31.37% 611 38.20% 186 36.93% 1,050
823 226 1,367
34.70% 21.51% 30.19%
$180,000 $110,000 $163,750
$185,000 $125,000 $170,000
$194,000 $126,000 $176,000
NORTH BRANFORD 1 Family Condo All Sales
3 0 3
NORTH HAVEN 1 Family Condo All Sales
ORANGE 1 Family Condo All Sales
OXFORD 1 Family Condo All Sales
PROSPECT 1 Family Condo All Sales
8 0 1 0
30.58% $226,500 N/A N/A 40.38% $263,500
44.70% N/A 28.61%
SEYMOUR 1 Family Condo All Sales
9 2 1 4
SOUTHBURY 1 Family Condo All Sales
6 6 1 4
26.13% 34.01% 7.75%
WALLINGFORD 1 Family Condo All Sales
1 4 2 2 2
WATERBURY 1 Family Condo All Sales
4 7 1 1 7 9
WEST HAVEN 1 Family Condo All Sales
2 1 6 3 2
WOLCOTT 1 Family Condo All Sales
8 0 9
WOODBRIDGE 1 Family Condo All Sales
6 0 8
NEW HAVEN COUNTY 1 Family Condo All Sales
3 22 8 9 5 28
423 123 723
2.78% 13.64% 3.82%
$188,000 $124,000 $169,000
3.19% 1.61% 4.14%
APRIL 2016 | THE COMMERCIAL RECORD | 41
TRENDLINES
NEW LONDON COUNTY SALES REPORT
NUMBER OF SALES FEB 2015
FEB %CHG 2015 2016 15-16 YTD
MEDIAN PRICE
2016 YTD
%CHG 15-16
4
6
50.00%
0
0
FEB 2015
FEB %CHG 2015 2016 15-16 YTD
2016 %CHG YTD 15-16
BOZRAH 1 Family
1
1
Condo
0
0
3
1
-66.67%
6
6
All Sales
0.00% N/A
N/A
N/A
N/A
N/A $173,750
N/A
N/A
N/A
0.00%
$960,300 $155,000
N/A -100.00%
N/A
$181,500 N/A
4.46% N/A
$212,500
$181,500 -14.59%
$203,775
$221,000
COLCHESTER 1 Family
5
6
20.00%
13
24
84.62%
Condo
2
2
0.00%
2
5
150.00%
8
11
37.50%
20
34
70.00%
$179,500
$244,125
36.00%
$290,500
$295,000
1.55%
All Sales
N/A
$274,563 N/A
77.14% N/A
N/A
8.45%
$178,000
N/A
$197,388
$219,938
11.42%
$303,167
$277,000
-8.63%
EAST LYME 1 Family
4
15
275.00%
16
27
68.75%
Condo
2
1
-50.00%
3
1
-66.67%
1 0
21
110.00%
29
34
17.24% 200.00%
All Sales
N/A $162,500
N/A $268,000
N/A $175,000 64.92%
$237,500
N/A - 100.00% $266,500
12.21%
FRANKLIN 1 Family
0
2
N/A
1
3
Condo
0
0
N/A
0
0
3
3
0.00%
5
5
0.00%
400.00%
2
9
350.00%
N/A
$94,900
N/A
1
5
400.00%
N/A
$99,900
N/A
5
21
320.00%
N/A
$100,950
All Sales
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
$190,000
$333,000
75.26%
$190,000
$245,000 N/A
N/A N/A
$245,000
28.95%
N/A
$100,000
N/A
N/A
$99,900
N/A
$100,000
-2.44%
GRISWOLD 1 Family
1
5
Condo
0
3
All Sales
N/A
1
12 1100.00%
N/A $102,500
1 Family
9
14
55.56%
16
42
162.50%
$255,000
$212,000
-16.86%
$278,750
Condo
4
3
-25.00%
8
4
-50.00%
$91,000
$125,000
37.36%
$95,750
1 5
28
86.67%
26
60
130.77%
$235,000
$161,570
-31.25%
$245,000
$207,000 -15.51%
1 Family
3
3
0.00%
5
10
100.00%
$175,000
$128,000
-26.86%
$158,000
$192,100
Condo
0
0
0
0
4
5
25.00%
6
13
116.67%
$166,500
$128,000
-23.12%
$154,000
$190,000
23.38%
1 Family
1 3
12
-7.69%
25
30
20.00%
$215,000
$256,500
19.30%
$179,000
$204,000
13.97%
Condo
2
1
-50.00%
2
2
0.00%
1 7
15
-11.76%
29
35
20.69%
1 Family
2
2
0.00%
3
3
0.00%
Condo
0
0
0
0
4
2
-50.00%
6
4
-33.33%
1 Family
1
1
0.00%
1
1
0.00%
Condo
0
0
0
0
1
2
100.00%
1
2
11
37.50%
14
19
35.71%
0 -100.00%
1
0
-100.00%
27.27%
18
25
38.89%
$100,100
$165,500
65.33%
$151,000
$160,000
12.50%
-26.28%
$170,000
$132,350 -22.15%
$59,500
$132,000 121.85%
GROTON
All Sales
$242,000 -13.18% $117,500
22.72%
LEBANON
All Sales
N/A
N/A
N/A
N/A
N/A
N/A
N/A
21.58% N/A
LEDYARD
All Sales
N/A $176,000
N/A $240,000
N/A 36.36%
N/A
N/A
N/A
$176,000
$201,868
14.70%
$285,000
67.75%
LISBON
All Sales
N/A
N/A
N/A
N/A
N/A $169,900
N/A
N/A
N/A
$221,500
N/A -100.00%
N/A $156,450
N/A $217,500
N/A 39.02%
LYME
All Sales
N/A
N/A 100.00%
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A N/A
N/A
N/A
N/A
N/A
N/A
N/A
MONTVILLE 1 Family
8
Condo
1
All Sales
1 1
14
$109,300 N/A
$180,000 N/A
64.68% N/A
$157,500 N/A
$164,900 N/A
4.70% N/A 5.96%
NEW LONDON 1 Family
8
6
-25.00%
16
18
Condo
2
4
100.00%
4
5
2 2
19
-13.64%
39
33.33%
All Sales
$176,000
$129,750
25.00%
$140,500
45
15.38%
$130,250
$122,500
-5.95%
$148,000
$132,000 -10.81%
9
11
22.22%
$184,000
$198,000
7.61%
$262,000
$210,000 -19.85%
0
0
11
15
N/A
NORTH STONINGTON 1 Family
3
4
Condo
0
0
5
5
All Sales
N/A 0.00%
N/A 36.36%
42 | THE COMMERCIAL RECORD | APRIL 2016
N/A $184,000
N/A $191,000
N/A 3.80%
N/A $254,900
N/A
N/A
$220,000 -13.69%
Real estate & credit transactions updated every Thursday
www.commercialrecord.com • subscribers only
NUMBER OF SALES FEB 2015
FEB %CHG 2015 2016 15-16 YTD
2016 YTD
MEDIAN PRICE %CHG 15-16
FEB 2015
FEB %CHG 2015 2016 15-16 YTD
2016 %CHG YTD 15-16
$74,700 $110,900 $83,950
$158,000 111.51% $85,000 -23.35% $82,450 -1.79%
$587,500 N/A $525,000
$249,750 -57.49% $507,500 N/A N/A N/A $249,750 -52.43% $432,500
$257,500 -49.26% N/A N/A $270,200 -37.53%
$199,000 N/A $157,000
N/A $149,000 N/A N/A N/A $149,000
$178,000 19.46% N/A N/A $135,500 -9.06%
N/A -100.00% $295,000 N/A N/A N/A N/A -100.00% $285,000
$350,804 18.92% N/A N/A $350,500 22.98%
NORWICH 1 Family Condo All Sales
8 3 1 2
13 3 22
62.50% 0.00% 83.33%
16 3 24
37 7 58
131.25% 133.33% 141.67% -22.22% -100.00% -28.57%
$78,950 $110,900 $87,450
$133,000 68.46% $90,000 -18.85% $102,500 17.21%
OLD LYME 1 Family Condo All Sales
4 0 5
6 0 8
50.00% N/A 60.00%
9 1 14
7 0 10
2 0 2
3 0 5
50.00% N/A 150.00%
6 0 6
4 0 6
3 1 5
1 -66.67% 0 -100.00% 2 -60.00%
5 1 10
4 0 5
1 0 1
5 0 5
1 0 1
7 0 8
18 5 30
22 1 39
1 0 1
6 0 8
500.00% N/A 700.00%
27 6 38
41 6 51
51.85% 0.00% 34.21%
$160,000 N/A $139,950
$190,750 19.22% $199,000 N/A N/A $80,625 $185,000 32.19% $160,500
$192,000 $136,250 $180,000
-3.52% 68.99% 12.15%
208 37 325
331 36 484
59.13% -2.70% 48.92%
$201,645 $92,780 $175,000
$200,000 $118,000 $180,000
$200,000 $114,000 $175,000
-2.20% 3.64% -4.72%
PRESTON 1 Family Condo All Sales
-33.33% N/A 0.00%
N/A N/A N/A
SALEM 1 Family Condo All Sales
-20.00% -100.00% -50.00%
$275,000 N/A $275,000
SPRAGUE 1 Family Condo All Sales
400.00% N/A 400.00%
600.00% N/A 700.00%
N/A N/A N/A
$135,000 N/A $135,000
N/A N/A N/A
N/A N/A N/A
$135,000 N/A $149,050
N/A N/A N/A
STONINGTON 1 Family Condo All Sales
5 2 9
10 100.00% 0 -100.00% 18 100.00%
22.22% $233,500 $243,750 -80.00% 30.00% $238,000 $243,750
4.39% $268,500 $271,750 1.21% N/A $455,000 -100.00% 2.42% $348,500 $240,000 -31.13%
VOLUNTOWN 1 Family Condo All Sales
0 0 0
3 0 5
N/A N/A N/A
N/A N/A N/A
$149,900 N/A $143,000
N/A N/A N/A
N/A N/A N/A
$147,466 N/A $144,016
N/A N/A N/A
WATERFORD 1 Family Condo All Sales
1 5 2 1 8
22 2 25
46.67% 0.00% 38.89%
NEW LONDON COUNTY 1 Family Condo All Sales
9 6 2 1 1 56
145 19 228
51.04% -9.52% 46.15%
-0.82% 27.18% 2.86%
$204,500 $110,000 $183,674
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APRIL 2016 | THE COMMERCIAL RECORD | 43
TRENDLINES
TOLLAND COUNTY SALES REPORT
NUMBER OF SALES FEB 2015
FEB %CHG 2015 2016 15-16 YTD
MEDIAN PRICE
2016 YTD
%CHG 15-16
FEB 2015
FEB %CHG 2015 2016 15-16 YTD
2016 %CHG YTD 15-16
ANDOVER 1 Family Condo All Sales
1 0 2
3 0 3
200.00% N/A 50.00%
4 0 7
7 0 8
75.00% N/A 14.29%
N/A N/A N/A
$364,500 N/A $364,500
N/A $192,000 N/A N/A N/A $190,000
$249,000 29.69% N/A N/A $243,000 27.89%
4 0 4
1 0 1
-75.00% N/A -75.00%
6 0 8
1 0 1
-83.33% N/A -87.50%
$166,988 N/A $166,988
N/A -100.00% $168,750 N/A N/A N/A N/A -100.00% $165,738
N/A - 100.00% N/A N/A N/A - 100.00%
4 0 4
100.00% N/A 0.00%
6 0 9
7 0 8
16.67% N/A -11.11%
N/A N/A $227,000
$217,500 N/A $217,500
N/A $295,000 N/A N/A -4.19% $285,000
$196,000 -33.56% N/A N/A $169,500 -40.53%
BOLTON 1 Family Condo All Sales
COLUMBIA 1 Family Condo All Sales
2 0 4
COVENTRY 1 Family Condo All Sales
9 1 1 3
10 2 15
11.11% 100.00% 15.38%
21 1 26
12 2 20
-42.86% 100.00% -23.08%
$170,000 N/A $170,000
$130,500 -23.24% $204,150 N/A N/A N/A $179,900 5.82% $199,075
$130,500 -36.08% N/A N/A $184,950 -7.10%
3 0 5
5 2 12
66.67% N/A 140.00%
8 0 11
12 2 22
50.00% N/A 100.00%
$218,000 N/A $231,000
$194,900 -10.60% $199,000 N/A N/A N/A $197,450 -14.52% $231,000
$210,250 5.65% N/A N/A $210,250 -8.98%
6 0 6
9 0 10
50.00% N/A 66.67%
9 0 11
16 0 17
77.78% N/A 54.55%
$300,000 N/A $300,000
$255,000 -15.00% $322,000 N/A N/A N/A $246,250 -17.92% $322,000
$237,250 -26.32% N/A N/A $237,000 -26.40%
12 3 16
12 4 18
0.00% 33.33% 12.50%
$225,000 N/A $175,000
$197,500 $100,000 $145,478
$202,450 -10.62% $132,850 -16.92% $194,950 -13.16%
9 0 11
14 3 17
55.56% N/A 54.55%
$224,950 N/A $225,000
$265,000 $349,900 $305,000
ELLINGTON 1 Family Condo All Sales
HEBRON 1 Family Condo All Sales
MANSFIELD 1 Family Condo All Sales
5 2 7
4 3 8
6 0 7
10 3 13
-20.00% 50.00% 14.29%
-12.22% $226,500 N/A $159,900 -16.87% $224,500
SOMERS 1 Family Condo All Sales
66.67% N/A 85.71%
17.80% $225,000 N/A N/A 35.56% $225,000
$265,000 $349,900 $302,500
17.78% N/A 34.44%
STAFFORD 1 Family Condo All Sales
7 1 9
7 0.00% 0 -100.00% 11 22.22%
15 2 19
16 0 24
6.67% -100.00% 26.32%
$208,000 N/A $208,000
$199,900 -3.89% $207,000 N/A N/A N/A $117,000 -43.75% $159,900
$178,000 -14.01% N/A N/A $162,500 1.63%
4 2 7
12 1 13
8 2 13
17 1 20
112.50% -50.00% 53.85%
$378,000 N/A $368,000
$220,000 -41.80% $278,500 N/A N/A N/A $235,000 -36.14% $220,000
$270,000 -3.05% N/A N/A $271,250 23.30%
2 0 4
0 0 0
-100.00% N/A -100.00%
N/A N/A $314,500
N/A N/A N/A N/A N/A N/A N/A -100.00% $314,500
N/A N/A N/A N/A N/A - 100.00%
18 6 30
17 6 32
-5.56% 0.00% 6.67%
5 0 6
6 0 9
20.00% N/A 50.00%
123 14 171
137 18 196
TOLLAND 1 Family Condo All Sales
200.00% -50.00% 85.71%
UNION 1 Family Condo All Sales
2 0 4
0 -100.00% 0 N/A 0 -100.00%
VERNON 1 Family Condo All Sales
7 3 1 4
7 3 16
0.00% 0.00% 14.29%
$129,900 $124,000 $127,950
$149,000 $103,900 $133,850
14.70% -16.21% 4.61%
$161,000 $119,500 $151,000
$149,000 $122,325 $145,850
-7.45% 2.36% -3.41%
WILLINGTON 1 Family Condo All Sales
2 0 2
2 0 3
0.00% N/A 50.00%
N/A N/A N/A
N/A N/A $250,000
N/A $226,000 N/A N/A N/A $217,950
$196,500 -13.05% N/A N/A $235,000 7.82%
TOLLAND COUNTY 1 Family Condo All Sales
5 8 9 8 4
74 14 109
27.59% 55.56% 29.76%
11.38% 28.57% 14.62%
44 | THE COMMERCIAL RECORD | APRIL 2016
$222,450 $115,000 $219,000
$205,000 -7.84% $238,075 107.02% $199,900 -8.72%
$209,900 $119,500 $204,150
$200,000 $190,850 $197,950
-4.72% 59.71% -3.04%
TRENDLINES
WINDHAM COUNTY SALES REPORT
NUMBER OF SALES FEB 2015
FEB %CHG 2015 2016 15-16 YTD
MEDIAN PRICE
2016 YTD
%CHG 15-16
FEB 2015
FEB %CHG 2015 2016 15-16 YTD
2016 %CHG YTD 15-16
ASHFORD 1 Family Condo All Sales
4 0 5
7 0 8
75.00% N/A 60.00%
5 0 6
10 0 12
100.00% N/A 100.00%
$163,500 N/A $160,000
$167,000 N/A $164,950
2.14% $167,000 N/A N/A 3.09% $163,500
$171,000 2.40% N/A N/A $164,950 0.89%
13 0 16
333.33% N/A 433.33%
7 0 7
14 0 17
100.00% N/A 142.86%
$245,000 N/A $245,000
$180,000 -26.53% $170,000 N/A N/A N/A $209,500 -14.49% $170,000
$177,950 4.68% N/A N/A $180,000 5.88%
5 0 6
2 0 2
-60.00% N/A -66.67%
7 0 9
6 0 7
-14.29% N/A -22.22%
$170,000 N/A $150,000
N/A -100.00% $167,000 N/A N/A N/A N/A -100.00% $167,000
$212,000 26.95% N/A N/A $205,000 22.75%
0 0 0
1 0 2
N/A N/A N/A
0 0 0
3 0 5
N/A N/A N/A
N/A N/A N/A
N/A N/A N/A
N/A N/A N/A
$153,900 N/A $153,900
1 0 2
0.00% N/A 100.00%
2 0 3
1 0 4
-50.00% N/A 33.33%
N/A N/A N/A
N/A N/A N/A
N/A N/A N/A N/A N/A $100,000
N/A N/A N/A N/A $119,500 19.50%
2 0 3
100.00% N/A 200.00%
1 0 2
3 0 5
200.00% N/A 150.00%
N/A N/A N/A
N/A N/A $100,000
N/A N/A N/A
$100,000 N/A $100,000
10 1 20
25.00% -66.67% 25.00%
14 5 27
20 2 34
42.86% -60.00% 25.93%
$121,700 $141,500 $134,950
$165,000 35.58% N/A -100.00% $147,500 9.30%
1 2 0 1 8
11 0 12
-8.33% N/A -33.33%
18 0 30
16 0 21
-11.11% N/A -30.00%
$151,000 N/A $137,950
$149,000 N/A $142,000
-1.32% $137,950 N/A N/A 2.94% $110,000
$135,000 -2.14% N/A N/A $135,000 22.73%
1 0 6
3 0 6
200.00% N/A 0.00%
2 0 10
5 0 9
150.00% N/A -10.00%
N/A N/A $160,000
$330,000 N/A $155,400
N/A N/A N/A N/A -2.88% $160,000
$248,000 N/A N/A N/A $140,900 -11.94%
0 1 6
7 2 15
N/A 100.00% 150.00%
0 1 11
15 5 28
N/A 400.00% 154.55%
N/A N/A $110,000
$125,000 N/A N/A N/A N/A N/A $125,000 13.64% $100,000
$145,000 N/A N/A N/A $145,000 45.00%
2 0 2
N/A N/A 100.00%
2 0 4
3 0 3
50.00% N/A -25.00%
N/A N/A N/A
N/A N/A N/A
N/A N/A N/A N/A N/A $140,500
$158,000 N/A N/A N/A $158,000 12.46%
3 0 4
200.00% N/A 100.00%
4 0 8
6 0 7
50.00% N/A -12.50%
N/A N/A N/A
$51,329 N/A $50,665
N/A $184,900 N/A N/A N/A $142,450
$118,250 -36.05% N/A N/A $65,500 -54.02%
5 0 8
9 2 14
80.00% N/A 75.00%
13 0 20
17 2 24
30.77% N/A 20.00%
$180,000 N/A $112,000
$165,150 -8.25% $182,000 N/A N/A N/A $155,075 38.46% $174,000
$182,500 0.27% N/A N/A $173,825 -0.10%
6 0 1 5
7 1 12
16.67% N/A -20.00%
11 0 28
13 3 22
18.18% N/A -21.43%
$117,250 N/A $116,500
$140,000 19.40% $116,000 N/A N/A N/A $100,500 -13.73% $114,000
$147,000 $120,000 $115,500
100.00% 0.00% 50.00%
8 2 14
3 2 15
-62.50% 0.00% 7.14%
N/A N/A $77,500
N/A N/A $157,250 N/A N/A N/A $242,511 212.92% $124,000
$230,000 46.26% N/A N/A $180,000 45.16%
66.67% 40.00% 34.78%
94 8 179
135 14 213
43.62% 75.00% 18.99%
$160,450 $135,000 $149,950
$155,000 $131,000 $148,000
BROOKLYN 1 Family Condo All Sales
3 0 3
CANTERBURY 1 Family Condo All Sales
CHAPLIN 1 Family Condo All Sales
N/A N/A N/A
N/A N/A N/A
EASTFORD 1 Family Condo All Sales
1 0 1
HAMPTON 1 Family Condo All Sales
1 0 1
N/A N/A N/A
N/A N/A N/A
KILLINGLY 1 Family Condo All Sales
8 3 1 6
$170,000 $141,500 $139,000
$150,000 -11.76% N/A - 100.00% $138,250 -0.54%
PLAINFIELD 1 Family Condo All Sales
POMFRET 1 Family Condo All Sales
PUTNAM 1 Family Condo All Sales
SCOTLAND 1 Family Condo All Sales
0 0 1
STERLING 1 Family Condo All Sales
1 0 2
THOMPSON 1 Family Condo All Sales
WINDHAM 1 Family Condo All Sales
26.72% N/A 1.32%
WOODSTOCK 1 Family Condo All Sales
1 1 4
2 1 6
WINDHAM COUNTY 1 Family Condo All Sales
4 8 5 9 2
80 7 124
$143,500 $141,500 $132,450
11.81% -4.59% 13.21%
$161,000 $141,500 $135,000
-3.73% -7.42% 9.63%
APRIL 2016 | THE COMMERCIAL RECORD | 45
FAIRFIELD COUNTY GOSSIP REPORT
1
GREENWICH
2
GREENWICH
3
GREENWICH
ADDRESS: 11 Khakum Drive, Greenwich
ADDRESS: 39 Meadow Wood Drive, Greenwich
ADDRESS: 558 Lake Ave. Greenwich
PRICE: $5,500,000
PRICE: $5,390,000
PRICE: $4,400,000
SIZE: 6,971 square feet on 2.06 acres
SIZE: 5,807 square feet on 1.09 acres
SIZE: 9,281 square feet on 2.98 acres
BUYER: Brian Feurtado and Meredith R. Feurtado
BUYER: O.A. Rogers
BUYER: Lake Investments LLC
SELLER: Alison L. Blood
SELLER: Barbara H. Sexton and O.G. Sexton
SELLER: Citimortgage Inc.
SOLD: 3/1/16
SOLD: 3/7/16
SOLD: 3/7/16
4
GREENWICH
ADDRESS: 10 Will Merry Lane, Greenwich PRICE: $4,391,500 SIZE: 7,800 square feet on 2.18 acres BUYER: Kristen Pagano and Michael Pagano SELLER: Carmina Roth and Ralf Roth SOLD: 3/7/16
5
WESTPORT
1 2 3 4
ADDRESS: 6 Bluewater Hill, Westport PRICE: $4,100,000 SIZE: 3,065 square feet on 1.01 acres BUYER: 6 Bluewater Hill S LLC SELLER: Charlotte Bedusa
5
SOLD: 2/17/16
The 17-room English country house in the number 3 spot has a slate roof and looks out onto its nearly 3-acre lot. Inside, there are seven bedrooms and seven bathrooms, several fireplaces, carved oak doors and paneling, leaded casement windows, hardwood floors with inlays and a large, modern kitchen. Outside, there’s a slate roof, ivy-covered stucco siding, a pool, pool house, putting green and an all-weather tennis court.
46 | THE COMMERCIAL RECORD | APRIL 2016
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