AUGUST 2016
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REAL ESTATE & FINANCIAL NEWS FOR CONNECTICUT
Industry Associations: When Sales Slow Down, Planning For The Future Heats Up Startup Scene Emerges In Stanford With Careful Planning And Thoughtful Mentoring
2016 Women Of FIRE Lead The Way Take A Cue From CT Community Banks, Where Female Leaders Abound
AUGUST 2016 | THE COMMERCIAL RECORD | 1
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inside The Commercial Record’s Leadership Issue This month’s issue features the 2016 Women of FIRE Award winners, all of whom are trailblazers and visionaries in industries that historically employed mostly men. Leadership takes a different approach in the real estate industry’s associations, who are using the August slump in sales as a time to regroup and recharge for upcoming legislative battles. And in Fairfield County, successful entrepreneurs are lending their expertise as mentors to a wide variety of up-and-coming startups.
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Breaking Barriers While the financial services industry as a whole lacks for female leadership, Connecticut’s community banks are breaking new ground.
10 Leading The Way Industry organizations take advantage of a latesummer slowdown in real estate sales to assess strategies for the upcoming legislative sessions at home and in Washington.
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12 Intellectual Capital In Fairfield County, careful planning and thoughtful mentoring come together to ignite a startup scene.
8
news roundup
14 state statistics
Special Section 18 2016 Women of FIRE Awards
16 c-changes
The Commercial Record’s annual recognition of the women in the finance, insurance and real estate industries who are creating their own definitions of success.
17 in person 30 top commercial transactions
6
32 trendlines 46 gossip report
AUGUST 2016 | THE COMMERCIAL RECORD | 3
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from the editor
THE COMMERCIAL RECORD CELEBRATES THE WOMEN OF FIRE
I
t’s a tough world out there and it takes tough women to keep it running.
This issue of The Commercial Record contains the profiles of the sixth annual Women of FIRE award winners. The Women of FIRE – finance, insurance and real estate – awards were conceived as a celebration and recognition of female movers and shakers in traditionally male-dominated industries. They are our way of acknowledging the tremendous effort and determination exhibited by these women, who rose to the top of challenging industries in difficult times. These women are strikingly diverse in ways far beyond merely ethnicity or orientation. They have chosen careers in a wide range of fields and fought hard to become leaders in their respective industries. The companies wise enough to employ them range from tiny family businesses to worldwide organizations. They are architects, entrepreneurs, Realtors, office managers, CEOs, attorneys, environmental engineers; they work in every corner of the finance, insurance and real estate industries. They are whole individuals with a lot more going on in their lives than what work fills the hours between 9 a.m. and 5 p.m. (and increasingly beyond). The choices they have made in their personal lives have impacted their professional lives, and vice versa – they are mothers and grandmothers, childless (or child-free, if you prefer); married, never
married, divorced, remarried; they have relocated to Connecticut from the other side of the country or remained in their hometowns. They volunteer at an amazing array of organizations, supporting causes and people far beyond the borders of the state. These very different women, reflecting all facets of the finance, insurance and real estate industries, have one vitally important common thread: they are making a difference. With their words and deeds, choices and actions, they are making a difference in the lives of their clients and constituents, in the industries they serve and in the lives and livelihoods of the women coming up behind them. Often without any overt intent, they are trailblazers, visionaries and groundbreakers. That is why The Commercial Record honors them. They don’t do it for the glory and they don’t do it for the praise – Lord knows that can be lacking in corporate America – they do it for others, whether that “other” is client, family, friend or the community at large. All of the Women of FIRE are chosen based on nominations from peers and colleagues, and sometimes friends and family. Many of the nominations are written by women the winners have mentored. Many are written by the winners’ bosses. Increasingly in recent
years, the nominations are written by previous Women of FIRE winners. The Commercial Record celebrates these women every year not only because it is important to recognize the achievements of individuals, but because it is important to recognize the challenges they faced. It is shameful that American women do not have equal opportunities and equal wages, and that they must choose between the health of their families and the health of their companies. The ideal America is better than that and must continue to strive for greatness – as these women have done. These challenges remain an inherent part of being a women in business in America and, despite increased attention and discussion, are unlikely to disappear any time soon. Thus there will be a seventh annual Women of FIRE award, and a 10th, and a 20th. We recognize them. We acknowledge their struggles. We raise them up. We celebrate them and we cheer for them and all they have accomplished. The Women of FIRE are tough women who keep this tough world moving towards a better place. Congratulations to all on this well-deserved award, and please keep up the good work. n
Cassidy Murphy Editorial Director Email: cmurphy@thewarrengroup.com
AUGUST 2016 | THE COMMERCIAL RECORD | 5
Breaking Barriers
FINANCIAL SERVICES LAG IN GENDER PARITY Female Execs Say Flexibility, Opportunity Keys To Success
BY LAURA ALIX | COMMERCIAL RECORD STAFF
I
t seems glass ceilings are smashing everywhere these days, and the banking industry is no exception. The financial services industry still has a long way yet to come, but perhaps they could take a page from Connecticut’s community banks. 6 | THE COMMERCIAL RECORD | AUGUST 2016
A recent study out of the global management consultant firm Oliver Wyman found that the financial services industry is lagging in female leadership. At its current pace, female representation at the executive level is set to hit 30 percent by the year 2048. Moreover, female executives in financial services were 20 to 30 percent more likely to leave their jobs than female executives in other industries. That’s likely because women executives may run up against inflexible schedules and increasing responsibilities at home once they hit their mid-career stride. The firm based its results on an analysis of 850 companies across 32 countries and more than 100 interviews with male and female executives. Oliver Wyman found that women had the greatest representation in executive positions in Norway and Sweden, while Japan and South Korea had the most room for improvement. But closer to home, Connecticut’s community banks boast a number of women in executive and C-suite positions. And if you listen to what they have to say, a few clear themes emerge as key to their successes. They all had a mentor, either male or female; at some point during their careers, they were offered the flexibility they needed to balance their work responsibilities with their education or responsibilities at home; and they were encouraged to try out different roles within their organizations. Nancy Viggiano, now president and CEO of the First National Bank of Suffield, began her career as a teller and eventually tried out roles in branch administration, commercial lending and residential mortgage lending, before she ultimately wound up leading the bank five years ago. Maureen Frank, president and CEO of Start Community Bank in New Haven, tells a similar story. She started working as a teller while attending community college. She held various roles within banking and later at a broker-dealer before she was called upon to lead a troubled institution in 2004. Karen Kelly, chief marketing officer at First County Bank in Stamford, also worked as a teller for a community bank in Brooklyn while she attended New York University. Her career took an unexpected
turn when the bank asked Kelly to help kick-start its new marketing department. “I stayed because I’ve always had opportunities in banking. And I think that banks offer a lot of opportunities for growth, especially for women,” she said. Cindy Merkle, president and CEO of Union Savings Bank, also started in banking as – you guessed it – a teller, working days while she pursued her business degree at night. She moved through a management training program, mortgage banking and branch administration at various points over her career.
“
‘Just Go For It’
Executives say that it’s increasingly important to get women into leadership positions in banking. For one thing, women make many of the purchasing decisions in households and for another, it’s simply good business to have your staff match your customer base. Besides having the opportunities and flexibility to pursue their careers, the women who spoke to The Commercial Record said it’s often about encouraging women to “just go for it” when they see an opportunity that piques their interest.
But besides the opportunity to try out different roles and functions within banking, the female executives who spoke to the Commercial Record said they were also afforded the flexibility they needed to balance their career responsibilities with their other obligations in life. For female executives, the job seldom ends when they clock out at the office. Frank, who has taken time off at various points to care for her child and her mother, recalled, “My daughter was born in 1987 when I was really coming to the height of my career, and I took six weeks off back then. I was fortunate that I found excellent day care for her. My schedule was flexible enough that when it was time for her to start school, I could bring her to school in the morning and not miss out on those kinds of things.” She and many of the other women interviewed for this article agreed that community banks in particular have a culture that lends itself to a better work-life balance for their employees. Female executives also say they want more for their own employees, both male and female. Kelly, for instance, highlighted that First County Bank last year was the recipient of the Women’s Choice Award, which recognized the bank for both its internal and external programs enacted for the benefit of women, and said that she encourages the women who work for her to attend classes and leadership training. And Merkle said her organization has begun shepherding its employees through in-house programs to train in the investment and commercial lending functions of the bank. In particular, she would love to see more women pursue careers in the investment side of banking.
One of the things I’d like to encourage with young women or women in general, is to take advantage of an opportunity, even if they’re not totally confident they can do it. … Men will, for whatever reason, just go for a position, whether they’re qualified or not. I’d like to see women step up, too.” — Nancy Viggiano, president and CEO, First National Bank of Suffield “One of the things I’d like to encourage with young women or women in general, is to take advantage of an opportunity, even if they’re not totally confident they can do it. In my opinion, that tends to be a problem,” Viggiano said. “Men will, for whatever reason, just go for a position, whether they’re qualified or not. I’d like to see women step up, too. They need to be more confident they can do additional jobs. You learn as you go.” n Email: lalix@thewarrengroup.com
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NEWS ROUNDUP WALLETHUB, CARDHUB RELEASE PERSONAL FINANCE STUDIES
With a potential rate hike on the horizon, personal finance sites WalletHub and CardHub recently released a pair of studies aiming to help consumers figure out where to best park their cash. Notably, WalletHub’s 2016 Banking Landscape Report found that personal, online-only savings accounts offered the highest interest rates for consumers, yielding 0.64 percent. Moreover, WalletHub said that checking branch accounts generally yielded about 151 percent higher interest rates than savings accounts. The site broke down some of its findings geographically, too, concluding that consumers in the Northeast and West reaped significantly lower returns on checking and savings accounts than consumers elsewhere in the country, earning 73 percent less on checking accounts and 45 percent less on savings accounts. Additionally, the site advised consumers looking for the lowest checking accounts fees to focus on offerings at credit unions, which averaged 32 percent lower than the next best option, online checking accounts. Meanwhile, CardHub’s recent Credit Card Landscape Report found that relative to last quarter, interest rates are rising in the aboveaverage-credit segments of the market, while rates were trending downward at the other end of the credit worthiness spectrum. It said the “fair credit” segment saw the biggest drop, 3.86 percent, from the beginning of 2016. CardHub also found that on average, credit card interest rates increased 24 basis points since year-end 2015, matching the Fed’s rate hike last year. CardHub also found that interest-free introductory terms were 18 percent longer for balance transfers than for new purchases, followed by a regular APR that averaged about three percentage points lower.
AUGLIERA ACQUIRES EAST HAVEN SITE FOR NEW HQ The former site of women’s apparel manufacturer FYC International in East Haven recently sold for $1 million. The 41,654-square-foot light industrial facility at 158 Commerce St. is situated on 3 acres of land in the East Haven Industrial Park. The property was purchased by Anthony Augliera Inc. as the new base of operations for Augliera Moving & Storage, relocating the company from its former West Haven location. Kevin Geenty of The Geenty Group represented the both the buyer and seller, Masu Realty LLC. Augliera also acquired an additional adjacent 7-acre lot from the town. The acquisition is expected to bring 35-50 new jobs to East Haven, along with $62,000 in annual tax revenue. The company, which also works with theatrical transfer, plans to build an additional 70,000 square feet on the property for a total of 120,000 square feet. The space will provide climate-controlled storage for theatrical sets and costumes, in addition to office operations and secure moving storage. The campus-like facility will house 15 tractors, six box trucks and 100 storage containers. The Geenty Group worked closely with East Haven Economic Development Director Sal Brancati to help the company secure the parcel. The town’s attorney Zullo & Jacks Law Firm and the Planning and Zoning Commission also assisted with the acquisition.
THE MOST VIEWED ARTICLES IN JULY • • • • •
Former Financial Advisor Admits To Stealing Over $1M From Clients Teaming Up For Successful Sales Savings Institute Promotes Retail Lending Specialist To SVP Winning The Race, Slowly And Steadily Real Estate Firm Picks Up Waterbury Shopping Center
8 | THE COMMERCIAL RECORD | AUGUST 2016
• • • • •
Simsbury Bank VP Recognized By Local Chamber Of Commerce Real Estate Firm Hires Gagnon To Lead Business Development Former Old Saybrook Business Owner Charged With Tax Fraud Dance Center Planned For Old Saybrook Retail Space Bankruptcy Attorney Faces Embezzlement Charges
EVENTS BANK SUMMIT
AVON SHOPPING CENTER ACQUIRED BY MA CRE FIRM, GLOBAL PARTNER
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AG: INVESTIGATION SUGGESTS LEGAL CASE ON CRUMBLING FOUNDATIONS IS DOUBTFUL
Attorney General George Jepsen’s office recently released a statement stating it cannot find sufficient basis to support claims for violations of state consumer protection laws regarding a deteriorating concrete foundation issue in Eastern Connecticut. Last year, when the Department of Consumer Protection (DCP) became aware of the problem, administration officials asked Jepsen to investigate whether a legal case under existing Connecticut law was feasible. Based on the analysis, a Connecticut Unfair Trade Practices Act does not appear possible, according to the attorney general. However, the DCP, Lt. Gov. Nancy Wyman’s office and the insurance department will continue the investigation. The insurance department recently launched a data call to ensure that any affected homeowners received appropriate notice on any changes to their policy regarding this issue. “Our homes are core to family security and the biggest investment many of us make in our lifetime. It’s important that we find any and all assistance for residents,” Wyman said in a statement. “We will continue to seek options for homeowners who are dealing with these foundation failures, and I encourage them to urge their insurers to participate in the fund to benefit impacted homes.”
Boston-based The Wilder Cos. and joint venture partner Principal Real Estate Investors recently purchased the Shops at Nod Brook in Avon. The 100,000-square-foot shopping center went for $29 million. The property, formerly known as Nod Brook Mall, currently houses anchor stores Marshalls and Michaels, as well as a variety of small shops and a recently opened Fresh Market. It is located on Route 44, along Avon’s main retail corridor. “This is a thriving, well-located shopping center,” David Mallen, Wilder’s principal, said in a statement. “With expansion possibilities enabling us to further augment the merchandise mix this acquisition will no doubt prove to be very successful.”
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AUGUST 2016 | THE COMMERCIAL RECORD | 9
Leading The Way
INDUSTRY ORGANIZATIONS LAY OUT 2016 GOALS, ACHIEVEMENTS
Realtors And Mortgage Leaders Focus On Legislation BY JIM MORRISON | COMMERCIAL RECORD STAFF
T
he real estate market typically slows down in the summer, making it a good time to reflect and refocus on achieving long-term goals, say Connecticut real estate business leaders.
The Connecticut Board of Realtors, for example, aims to reframe the image of Connecticut as having big deficits, high taxes and falling house prices to emphasizing some of its more positives attributes. “Connecticut is a very safe place to live,” said Michael Feldman of William Raveis Real Estate in Stamford and president of the Connecticut Board of Realtors. “We have everything. We’re close to the city, we have a lot of industry, green areas, a beautiful coastline, culture, sports, history and schools. What else could you want?” For those who seek to remain in, or relocate to, the Nutmeg State, Feldman said his group tries to promote the value
of hiring a professional Realtor when buying or selling a home. To that end, the organization has installed a giant business card holder at Bradley airport, posters in the malls, and even videos of WWE (headquartered in Stamford) professional wrestlers welcoming a family to the state. “We’re promoting the idea that if you want expert information, you have to talk to the experts in the business,” Feldman said. “Real estate is a local business. If you want the best information to make a good decision for yourself and your family, you should talk to the people who live and breathe that marketplace every day and have their fingers on the pulse of the
10 | THE COMMERCIAL RECORD | AUGUST 2016
community. You don’t want to rely on a search engine.” The association also focuses on engaging its 16,000-plus members in the political process, by supporting candidates for state legislature who exhibit fiscal responsibility and oppose burdening property owners with undue fees and regulations. They also get involved on the federal level. “We’re trying to get private companies to enter the flood insurance area. FEMA is a couple of hurricanes behind in assessing flood insurance costs,” Feldman said. “We’re finding that private insurance companies can assess risk on an individual basis faster than the government. We also just passed some loosening on instructions on getting an FHA loan on a condo.” Feldman said the association hasn’t laid out their legislative agenda for next year, but that doesn’t mean they won’t be vigilant.
“There’s always talk of raising conveyancing fees on sellers, creating a mortgage tax, even creating a sales tax on commissions,” Feldman said. “Thankfully, most of these ideas die in committee.” Feldman said seeing the state balance its budget is at the top of his wish list. “In 2017, I’d like to see Connecticut have a balanced budget and zero deficit,” Feldman said. “When your financial house is in order on a state level, a lot of good things can happen. You don’t have to raise fees and taxes, people can reduce their debt, improve this home. If expenses are in check and you’re not going to have another billion-dollar deficit. Everything else after that falls in line.”
Mortgage Bankers Active On Legislative Front One of the primary goals of the Connecticut Mortgage Bankers Association (CMBA) is to stay informed and be involved with any legislation that could have an impact on their field, according to CMBA president David Zamary, senior vice president of residential lending at First County Bank in Stamford. The CMBA tracked and lobbied on behalf of dozens of bills before the legislature this year. The organization’s successes include a bill requiring landlords to inform tenants what institution is holding their security deposit, a bill protecting consumers from faulty concrete foundations, and a bill that increases funding for free legal services for the poor. “There are a number of bills we fought against and a number we supported,” Zamary said. “The big one was foreclosure mediation. Our average number of days in foreclosure is ridiculous. We’re trying to shorten the amount of time so banks don’t get stuck holding onto these properties. It was set to expire in 2017, but it was extended to 2019.” Personally, Zamary said he thinks an overreaction to the subprime mortgage crisis has yielded the current too-strict regulatory environment. Though some regulations have loosened slightly, he said he’d like to see them loosen further and settle onto some kind of middle ground. “There are so many compliance issues in the industry that make it very hard to do business,” he said. “With loans now, we’re conditioning borrowers for con-
“
We established an initiative two years ago to bring young people into our executive meetings. We’ve got to get the young people involved because they’re going to be running our industry someday.”— David Zamary, CMBA president and senior vice president of residential lending, First County Bank
ditions. They might have an 800 credit score and been at their jobs for 20 years and we’re nickel and diming them with conditions, like verifying deposits. A lot of buyers complain about how difficult the process is. They feel like they’re being treated like criminals.” Overall, Zamary said he is pleased to see the market is slowly heading in the right direction in the aftermath of the crisis. “We were all worried about TRID and it wasn’t as bad as we all thought it was going to be,” Zamary said. “I think that’s because of training everyone did. The disclosures are easier and better. I think
we have it down. I hope now the market will get better. We’re having a record year with sales and refinance volume thanks to interest rates being so low.” The CMBA is also actively encouraging college students to consider a career in the mortgage industry, and investing in the development of younger leaders. “We established an initiative two years ago to bring young people into our executive meetings,” Zamary said. “We’ve got to get the young people involved, because they’re going to be running our industry someday.” n Email: jmorrison@thewarrengroup.com
The best things in life are free. Especially money. We’re offering members zero-percent Classic Advances, on a first-come, first-served basis, to create or preserve jobs in their communities. Our new program, Jobs for New England, will award up to $5 million in interest-rate subsidies every year through 2018. A maximum of $250,000 in subsidy is available per member each year. At current rates, $250,000 can leverage up to $30 million in one-year advances. To find out more about Jobs for New England, contact Fatima Razzaq at 617-425-9564, or fatima.razzaq@fhlbboston.com. But don’t delay. These funds won’t last forever.
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AUGUST 2016 | THE COMMERCIAL RECORD | 11
Intellectual Capital
MENTORS GIVE STARTUPS VETERAN ADVICE Accelerators Build A Tech Ecosystem
Serendipity Labs is opening a 13,000-square-foot co-working space at 700 Canal St. in Stamford this month to tap into the city’s growing startup culture.
BY STEVE ADAMS | COMMERCIAL RECORD STAFF
T
here’s no foolproof recipe for starting a company from scratch, but many of the ingredients are available in Fairfield County. The region is rich with management consultants experienced in advising companies, and Wall Street veterans who know how to tap into funding sources. Their leadership plays a big part in the area’s emerging startup culture, as incubators, tech accelerators and co-working spaces emerge in a region better known for its established wealth managers. “We’ve got brilliant and successful people in Fairfield County: a tremendous amount of intellectual and financial capital,” said Janis Collins, founder of The Refinery, a Westport-based incubator for startups. “Our biggest challenge is attracting younger people to Fairfield County to develop their companies.”
Limited social options for Millennials is a frequent complaint, Collins said, along with the high cost of living. The region’s ability to generate a tech cluster has implications for mature industry as well: General Electric cited Boston’s thriving tech scene in its decision to relocate its headquarters this month from Fairfield, as it ramps up its digital and data divisions. The key, Collins said, is strengthening connections with Yale and other local universities to keep graduates local and build a homegrown network of entrepreneurs.
Startup Scene Emerges In Stamford Economic competitiveness task force Reinventing Stamford in 2012 tapped private equity industry veteran Barry
12 | THE COMMERCIAL RECORD | AUGUST 2016
Schwimmer to lead the transformation of the long-vacant former town hall into the Stamford Innovation Center. The center receives support from CTNext, a program that was created as part of the state’s 2011 Jobs Bill to support entrepreneurialism. Today, the center is home to approximately 20 early-stage companies. It sponsors roundtables, workshops and hackathons run by a network of mentors and guest lecturers. The center’s collaborative environment is invaluable, according to a startup founder whose company grew out of the SIC into office space in downtown Stamford. “Being around people who are going through the ups-and-downs of startups, it’s hard to overstate that,” said Sal Syed, a Yale School of Management graduate and CEO of Arccos Golf. “It was great for networking. In Connecticut, that’s one of the best places if you’re looking to find people to work with you on a crazy idea.”
Syed’s crazy idea: a GPS-equipped golf club insert that allows players to track the length of their drives and hone their game by syncing the data to a mobile app. Even though the company had already received $5 million in venture capital funding, Syed said it was important to tap into Stamford Innovation Center for its networking opportunities. Once a month, roughly 20 CEOs of local tech companies get together after work to talk tech. As the company grew from two employees to two dozen, Syed said it made sense to stay in Stamford. Arccos Golf leased 5,000 square feet at 700 Canal St., a brick-and-beam office building a halfmile from the Stamford train station. A vast majority of his employees commute on the Metro-North Railroad. “In terms of hiring and recruiting, it opens up the New York as well as the Connecticut market,” Syed said. “The cost of living and quality of life is a little bit better (than New York), especially as you get older. I’m 35 and I’m done with living in a small apartment.” Serendipity Labs, a national co-working space provider, sees Stamford as a promising location for startups. This month, it’s opening a 13,000-squarefoot location at 700 Canal St. including a work lounge, lab-café, private offices, team rooms and event space.
Advice For Female-Led Businesses Collins, a former entrepreneur-in-residence at the Stamford Innovation Center, branched out in 2014 with the launch of her tech accelerator, The Refinery. Based in Westport, it specializes in assisting early-stage companies with female leaders or investors. The Refinery has hosted 31 companies in four accelerator programs, matching entrepreneurs with 70 mentors in their specific industries. A pilot virtual mentorship program will begin this month. “You can participate with people who have been there before and done that, and get the wisdom of their experience,” said Collins, a former executive at KPMG
and J.P. Morgan’s tech incubator LabMorgan. “Thirty years ago, we didn’t have these communities. Today we can scale faster and build our business model and fundraising in a much speedier way.” The Refinery’s model was just the refresher that Amy McCooe felt like she needed. As she began to launch her ed tech startup Level Up Village in 2012, the former Warburg Pincus and Credit Suisse executive joined The Refinery’s threemonth mentorship program. There, she fine-tuned the business model with cofounder Neesha Rahim, whose background included consulting for nonprofits. It wasn’t until they joined The Refinery that the company started to scale up, McCooe said. The program has expanded from a handful of schools in Greenwich to 138 nationwide. “We were struggling at the beginning figuring out whether our customer was
a parent or the schools,” McCooe said. “It helped us refine our message to the schools, which essentially are our customers now.” Level Up Village’s online program connects U.S. schoolchildren with counterparts in the developing world with online STEAM (science, tech, engineering, arts and math) enrichment courses. An angel investor helped fund the expansion of the company, now with a dozen employees working out a recently-expanded office suite on the edge of the Old Greenwich business district. “We’re doing really well and looking at other potential partners who are involved in ed tech,” McCooe said. “That’s what you get when you’re in these (accelerator) programs. There’s a lot of synergy with what you’re going through, and in today’s business model everything’s moving so quickly.” n Email: sadams@thewarrengroup.com
Money doesn’t grow on trees. But sometimes it’s free. We’re offering members zero-percent Classic Advances, on a first-come, first-served basis, to create or preserve jobs in their communities. Our new program, Jobs for New England, will award up to $5 million in interest-rate subsidies every year through 2018. A maximum of $250,000 in subsidy is available per member each year. At current rates, $250,000 can leverage up to $30 million in one-year advances. To find out more about Jobs for New England, contact Fatima Razzaq at 617-425-9564, or fatima.razzaq@fhlbboston.com. But don’t delay. These funds won’t last forever.
See what your cooperative can do for you!
FHLBBoston Federal Home Loan Bank of Boston • 800 Boylston Street Boston, MA 02199 • www.fhlbboston.com
AUGUST 2016 | THE COMMERCIAL RECORD | 13
STATE STATISTICS 10-Year Single-Family Sales More than $1 Million
Top 5 Credit Unions Market Share: All Mortgages
1,500 American Eagle FCU | 2016 Rank: 1 | 2015 Rank:1
NUMBER OF SALES
1,200
21.14%
23.11%
900
Charter Oak Fed Cr Un | 2016 Rank: 2 | 2015 Rank: 2
600 13.66%
300 13.27%
0
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 *Statistics include sales January-June- All Years Source: The Warren Group
Sikorsky Fncl CU Inc | 2016 Rank: 3 | 2015 Rank: 3
7.90%
Condo Sales By Price Range 7.46%
4,500 $700K+
4,050
$500k-$699k
CT State Emp FCU | 2016 Rank: 4 | 2015 Rank: 5
$400k-$499k $300k-$399k
3,600
NUMBER OF SALES
$150k-$299k
6.29%
$10K-$149k
3,150
4.59%
2,700 2,250
Navy FCU | 2016 Rank: 5 | 2015 Rank: 4
1,800
5.57%
1,350 900
6.04%
450
2016 0
1991
1996
2001
2006
2011
*Statistics include sales January-June- All Years Source: The Warren Group
14 | THE COMMERCIAL RECORD | AUGUST 2016
2015
2016 *2015 MarketShare percent (of Credit Union Lenders only) thru June 2016 *2014 MarketShare percent (of Credit Union Lenders only) thru June 2015
Top 5 Lenders By Market Share Purchase Mortgages
10-Year Condo Sales 7,500
Wells Fargo Bank | 2016 Rank: 1 | 2015 Rank: 1
6,000
3.45%
William Raveis Mtg Co | 2016 Rank: 2 | 2015 Rank: 5
2.88%
NUMBER OF SALES
3.52%
4,500
3,000
1,500 2.64%
0
Norcom Mortgage | 2016 Rank: 3 | 2015 Rank: 2
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 *Statistics include sales January-June - All Years Source: The Warren Group
2.63%
Multifamily Home Sales 3.33%
1,800
2-Family
3-Family
First World Mortgage | 2016 Rank: 4 | 2015 Rank: 7
1,500
2.35% Village Mtg Co | 2016 Rank: 5 | 2015 Rank: 5
2.61%
NUMBER OF SALES
2.61%
1,200 900 600 300
2.79%
2016
2015
*MarketShare percent and Rank statistics includes loans thru June for both 2015 & 2016
0
06 07 08 09 10 11 12 13 14 15 16
*Statistics include median prices January-June- All Years Source: The Warren Group
AUGUST 2016 | THE COMMERCIAL RECORD | 15
C-CHANGES IN CONNECTICUT’S EXECUTIVE SUITES Peter Olson has joined the branch banking team at Darien Rowayton Bank (DRB) as vice president and branch manager of the Rowayton office. Olson has been in the banking and business development industry for 20 years. In addition to directing the day-to-day operations of DRB’s Rowayton banking office, Olson will focus on building commercial relationships throughout Fairfield and Westchester counties. He currently serves as a board member of the Darien Chamber of Commerce, is a team coach for the Darien Youth Baseball League and is a board member of The Tiny Miracles Foundation, a local organization that assists families who have had children born prematurely.
MARK A. CANDIDO
RICHARD R. BARREDO
ANTHONY S. ROSSLEY
Newtown Savings Bank recently announced it has hired a team of commercial lenders to join the bank at its regional lending center in Hamden. Mark A. Candido will lead the team at the 2321 Whitney Ave. location at as regional director of commercial lending. Candido has 45 years of experience from a diverse lending background. In 2006, he co-founded the former Quinnipiac Bank and Trust Co., where he worked as president and CEO. He is currently involved with the Community Investment Corp., Greater New Haven Chamber of Commerce Economic Development Council, Hamden/New Haven YMCA and Hamden Education Foundation. Richard R. Barredo has been hired has vice president and commercial loan offer, bringing experience in banking, lending and corporate administration. In 2006, Barredo was also a co-founder of Quinnipiac Bank and Trust Co., where he was COO and chief lending officer. He is currently involved with the Science Park Development Corp. of New Haven. Anthony S. Rossley, vice president and commercial loan officer, brings over 25 years of commercial lending and business development experience. Rossley brings experience with commercial lending, small business and SBA lending and relationship management. He is also involved with the Greater New Haven Chamber of Commerce and the Hamden Economic Development Corp.
AWARDS & ACCOLADES
Hamden-based architecture, engineering and interior design firm Silver/Petrucelli & Assoc. has announced that Jillian Tara has earned her National Council for Interior Design Qualification (NCIDQ) certificate. Less than 30 percent of the nation’s interior designers earn the credential, according to a statement from Silver/Petrucelli & Assoc. Tara joined the company in 2015 and brings experience in space planning, furniture and finish selection, along with lighting and retail design. Her focus is on sustainable design and creating spaces that are inviting, functional and energy efficient.
16 | THE COMMERCIAL RECORD | AUGUST 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.
GRAZYNA LANDMESSER VICE PRESIDENT, REGIONAL MANAGER, FIRST COUNTY BANK Grazyna Landmesser never planned to get into banking. But when she wound up at First County Bank, she knew, “This is it.” First County just opened a new branch in Westport. What was the thinking behind the relocation? We decided to make this branch different, a little bit more modern, so technology was No. 1 here. We don’t have traditional teller lines at this new branch. We have cash recyclers, which makes for a very open floor plan with tellers greeting customers when they walk in through the doors. Of course [customers] can make deposits or withdrawals, but in many cases, customers could go to the ATM, they could make deposits on their phone these days. They walk into the branch because they love the interaction. Since this is largely a tech-focused branch, does that change the way your front-line staff interact with customers? How do you focus your training toward that end? With technology, we have to look at different ways and more consultative and advisory ways of talking to customers. Every single day, I’m out in the field and spending time with managers, with employees, and we just practice. I’m coaching, I’m listening, observing and giving feedback.
THADDEA SHERIDAN REALTOR, HALSTEAD PROPERTIES Thaddea Sheridan was born and raised in Stamford and came back in the early ’90s after stints in other parts of Fairfield County and California. How has the market changed since you started? When I first started it was a really strong seller’s market. Everything that came on the market sold quickly, even things were a little overpriced. It was an interesting time to start. Then everything changed in 2007, we had a dip, then the mortgage crisis changed the market. It was hard for people to adjust the values of their properties in their heads. Houses just didn’t sell for what they did before. It’s a cycle and we went through it. What does it take to be a successful Realtor in the Stamford market? It takes strong knowledge of your community, attention to detail, extensive market knowledge and follow-through with clients. In order to sell real estate in your community, you need to know it. Everything from the downtown areas to parks and schools. It helps that I have some history to draw on. You have to be able to do your restore and keep up with current events. It helps you to be able to help your clients.
JOSEPH VALLONE FOUNDER, JOSEPH VALLONE ARCHITECTS + DEVELOPMENT STUDIO LLC What was your impetus for branching out into development? I felt that creating a product is more lucrative than selling a service. And I also felt that architects know buildings and understand buildings better than anyone. I feel strongly there’s a unique opportunity for certain architects to pursue this avenue. I also think that, aside from the financial part, which is very risky and can be devastating, it can be rewarding when the architectural creativity comes out in your projects. You become your own client, which is extremely rewarding. How important is it to select a community that’s supportive of development? As a developer, I’ve learned the planning director of the town has tremendous input in terms of the visions of the community. When I go from town to town, I can tell by meeting with the people who really gets it and who’s not on their game. It’s actually part of the reason I will or won’t go into a town. This is my famous saying: all of these projects are 40,000 steps to the top and it’s only one step to the bottom. AUGUST 2016 | THE COMMERCIAL RECORD | 17
2016 RECIPIENTS DIANE CANTELLO
VICE PRESIDENT, CORPORATE SUSTAINABILITY, THE HARTFORD
LISA CASPER
DIRECTOR, CORPORATE PLANNING AND ANALYSIS, WEBSTER BANK
GINGER DEAN
VICE PRESIDENT, LITCHFIELD COUNTY COMMERCIAL REAL ESTATE
EMILY DREAS
SENIOR VICE PRESIDENT AND REGIONAL MANAGING DIRECTOR, WELLS FARGO PRIVATE BANK
PATTY DYER
VICE PRESIDENT OF MORTGAGE LENDING, UNION SAVINGS BANK
MERYL FREEDMAN
OFFICE LEADER, VICE PRESIDENT OF SALES, BERKSHIRE HATHAWAY HOMESERVICES NEW ENGLAND PROPERTIES WEST HARTFORD
LAURIE GERVAIS
EXECUTIVE VICE PRESIDENT AND CHIEF ADMINISTRATIVE OFFICER, SAVINGS INSTITUTE BANK & TRUST
NANCY HANCOCK
PARTNER, EXECUTIVE COMMITTEE MEMBER, PULLMAN & COMLEY LLC
MELANIE JOY
SENIOR VICE PRESIDENT OF COMMERCIAL BANKING, UNITED BANK
VICTORIA KAPLAN BROKER/OWNER, BRIAN REALTY
ELIZABETH VERNA OWNER/MANAGER, VERNA PROPERTIES
MARGARET WILCOX
VICE PRESIDENT OF SALES, WILLIAM RAVEIS REAL ESTATE AGENCY TEAM LEADER, MARGARET WILCOX & ASSOCIATES
18 | THE COMMERCIAL RECORD | AUGUST 2016
CELEBRATING OUTSTANDING WOMEN Women Of FIRE Honorees Are Innovators, Achievers And Leaders
T
he Commercial Record asked its loyal readers to nominate deserving women in the finance, insurance and real estate sectors for our 2016 Women of FIRE awards. From dozens of nominations, our judges narrowed it down to 12 women who stood out from the crowd. They have shown substantial success in their field, they have demonstrated a commitment to professional and personal growth, and their work has enriched and advanced their fields of endeavor. These women are mentors, philanthropists, leaders and innovators. They devote their time and their hard work to making their companies and their communities a better place for all. They serve as role models and mentors for their fellow employees, and they are paving the way in what were once male-dominated industries. Congratulations to the 2016 Women of FIRE! AUGUST 2016 | THE COMMERCIAL RECORD | 19
DIANE CANTELLO VICE PRESIDENT, CORPORATE SUSTAINABILITY, THE HARTFORD
BY ANNA SIMS | SPECIAL TO THE COMMERCIAL RECORD As vice president of corporate sustainability at The Hartford, Diane Cantello helps coordinate the insurance giant’s sustainability agenda and directly oversees its enDIANE CANTELLO vironmental stewardship and community involvement. It is difficult to overstate the importance of this last role to local nonprofits, said Bobbie Bartucca, executive director of The Malta House of Care Foundation, a Hartford-based mobile medical clinic that provides free care to individuals without health insurance and is a community partner of The Hartford. Over the last few years as economic pressure has led some of the capital city’s business to merge, downsize or even relocate, The Hartford has remained a committed, reliable partner.
“Even though it’s a national company, The Hartford has really embraced the fact that they want to support the neighborhood in which they live and work,” Bartucca said. “That’s not the case with lots of big companies these days.” While The Hartford’s “very generous” financial support is vital for the nonprofit’s existence, the commitment that Cantello personally has shown The Malta House of Care over the years has defied expectations, Bartucca said. “It is so rare for someone who has gotten to the level that [Diane] has reached in an organization to still be interested in what is happening at the ground level,” Bartucca said. “She is interested in learning about us. She wants to have a relationship with the people [The Hartford] funds.” Michelle Murphy, director of advancement at foundation, said she is most impressed by Cantello’s communication style. “At the heart of all of her jobs [at The
Hartford] is effective communication,” Murphy said. “Diane has the ability and confidence to express herself in a very real way, as opposed to using lingo or words that sound fancy but don’t really say much.” Cantello, who lived in the UK before coming to the U.S. with her husband in 1995, believes her strong communication skills are partially the result of moving to a new country. Although the countries share a language, “I think there are very significant differences between them, and having that appreciation of different cultures and an appreciation for the subtleties of language … [helps] with communication,” Cantello said. Bartucca has simpler explanation: “She’s just such a lovely person.” “We’ve come far in getting women in business and in the nonprofit world, but we still need leaders who we can look at and say, ‘Wow, I want to be like that,’ or ‘I want my daughter to be like that.’ … That is Diane,” she said. n
LISA CASPER DIRECTOR, CORPORATE PLANNING AND ANALYSIS, WEBSTER BANK
BY LAURA ALIX | COMMERCIAL RECORD STAFF If you ask Lisa Casper, it was inevitable she would get into banking. If you ask her colleagues, it was inevitable she would be named a Woman of FIRE. LISA CASPER Thinking back on her career now, the New Jersey native recalls that most of her high school classmates entered the financial services world in one capacity or another. She also had a close family member who worked in the banking business and a natural aptitude for math and numbers. “There’s always an answer,” she told The Commercial Record when asked what she loves about her job. “Whenever you’re analyzing and reviewing and working through situations, whether it’s for an earnings call or anything else, there’s always got to be an answer. It’s relatively black and white,
although there is some gray in there. So I enjoy analyzing and researching and figuring out what’s going on.” Over the years, Casper has put her aptitude and expertise to work in aspects of banking like loan review and reporting and analytics. Often, she’s been the only woman in the room, but she credits an early mentor of hers with helping her navigate the maledominated world of banking. “Her name was Amanda, and I still keep in touch with her. I’d like to think that she gave me the polish I needed,” Casper said. “She taught me to really evaluate and look at what I was doing, making sure I tend to take another look at stuff. … She did a lot for me. She was always questioning me. She spent a lot of time with me.” That mentorship has clearly served Casper well throughout her career, and her colleagues couldn’t praise her enough, particularly Oona Robinson, who has been deputy CFO at Webster Bank for about a year.
20 | THE COMMERCIAL RECORD | AUGUST 2016
“I’m new to the organization, and I’ll work with her and she’ll release a product that far exceeds what I was thinking,” she said of working with Casper. “She’s made me look really good in this past year. And she has such a broad perspective of Webster. She’s been an invaluable part of my ability to be successful.” Robinson also admires Casper’s hands-on approach to all facets of her life, from her work to her kids to caring for her elderly parents. With a seemingly boundless reserve of energy, perhaps it’s unsurprising that Casper runs to help decompress from work. (She’s also run roughly 15 marathons, but who’s counting?) “Her job is to always steer the ship straight,” Robinson said. “I don’t need to be in the room to know that Lisa can deal with the executives by herself and we’ll have a very good outcome. She’ll have a good, balanced dialogue and help do the right thing for the franchise.” n
Congratulations
Lisa Casper. We are pleased to congratulate Lisa on being named a recipient of the 2016 Women of Fire award. At Webster, living up to our customers, communities and each other is what matters most. It is part of our core values brought to life by our leaders and our bankers. And it is their dedication and commitment to you that makes us a stronger organization. Lisa Casper Director of Corporate Planning and Analysis Webster Bank
Commercial & Institutional | Business | Private | Personal
AUGUST 2016 | THE COMMERCIAL RECORD | 21
The Webster Symbol is registered in the U.S. Patent and Trademark Office.
GINGER DEAN VICE PRESIDENT, LITCHFIELD COUNTY COMMERCIAL REAL ESTATE
BY ABBY PATKIN | COMMERCIAL RECORD STAFF Ginger and David Dean might be considered something of a real estate power couple: she currently serves as Litchfield County Commercial Realtors’ vice president, and both of GINGER DEAN them are owners and brokers at the firm. However, if you ask David Dean, he’ll tell you she’s the real backbone of the operation. “She is smart, personable and brimming with a ‘can-do’ attitude. She is irreplaceable,” he wrote in his nomination of his wife for The Commercial Record’s 2016 Women of FIRE awards. But the 33-year veteran’s real estate career almost never was; the Torrington native was a young, divorced mom of two when a friend in real estate pushed her to get her license. Dean had some college experience and had worked a series of odd jobs, but the friend’s
selling points of flexible hours and a friendly boss helped convince her. “She said, ‘You need to come to work for David – you’ll love him,’ and of course I came to work for David and fell in love with him and we got married,” she recalled. When she first began, the firm only had between eight and 12 employees, but Dean and her husband grew the firm to a high of 50 employees when they bought a Coldwell Banker franchise, Coldwell Banker Bredice and Dean. “It really was just a fabulous franchise,” she said. “The training and the materials available to us for running our office and for our agents was just far superior to anything we were ever used to.” While she notes that the move to a larger downtown office was “frightening,” she also describes the location’s opening as one of her fondest career memories. “The city of Torrington was having a downtown week … and we had the ballet company come over and do a little spot for us, and we had a fashion
show one year. We had no idea the number of people that were going to come through our door at that point. It was just enormous.” The franchise was named the number one Coldwell Banker office in Connecticut in 1992 and served as the county’s top full-service firm for a number of years before the Deans sold it in 2004 to focus on commercial and industrial real estate and brokerage deals. Yet while Dean looks back on the big franchise moments fondly, she also notes that her favorite part of her job is the day-to-day tasks that keep the office up and running. “I love all the varied aspects of the job,” she said, explaining that her days in the office are “challenging and never boring.” Now, Dean says she is “humbled” by being chosen as one of The Commercial Record’s 2016 Women of FIRE. “After years of tenacious work and education, in good markets and bad, I feel like I have my achieved my piece of the American Dream,” she said. n
EMILY DREAS SENIOR VICE PRESIDENT AND REGIONAL MANAGING DIRECTOR, WELLS FARGO PRIVATE BANK
BY JOE KOURIEH | COMMERCIAL RECORD STAFF Although Emily Dreas deals with some big dollar signs, managing private wealth for clients with plenty of it, for her the numbers are only as important as the individuals behind EMILY DREAS them. A consummate people person, Dreas goes to work each day with human-centered and goal-oriented mindset, finding satisfaction in helping clients get the most out of their assets. “I love the client interaction, the nuances that are involved in cap market and how situations can play out,” she said. “That’s what propelled me in this industry.” Over the years, Dreas has experienced the full spectrum of high-net-worth individuals, assisting clients on multiple continents with myriad goals in mind for their money, including investments, philanthropy and everything in between. Her experience was so rich
that in 2010 Wells Fargo invited her to join in a regional managerial position, showing the next generation of portfolio managers how to emulate her style of guiding clients through the minutia of wealth management. The result was a pack leader with a “disciplined, innovative approach,” and who is “energetic, positive and creates a dynamic energy around everyone she meets,” according to her office’s Senior Relationship Manager Nicole Thomas. However, Dreas’ style, though positive and highly collaborative in nature, didn’t develop casually, but rather was forged along a career path checkered with challenges. Dreas recalled a turbulent merger over a decade ago, when her company at the time was acquired, and she and her colleagues were placed dangerously close to the chopping block; the reputation they had developed thus far meant little to the new management. “I remember the feeling of injustice I had
22 | THE COMMERCIAL RECORD | AUGUST 2016
over the whole thing,” she said. “It was humiliating.” From those hard times, though, Dreas said she learned the importance of humbleness, and thick skin no matter the circumstances. “One thing that’s not going to change is change itself,” she said. “You have to change yourself and embrace the change. … Take that energy and transfer it to people – fight for your clients.” Dreas praised Wells Fargo as an organization for having created a culture along those lines – “unassuming, smart, authentic and genuine.” She said they have a leg up on other large financial institutions through their strong emphasis on risk management, which trickles down as realistic and candid business with clients, and between colleagues. “That’s something I make an emphasis of – we need to be blunt with each other” in tough situations, she said. “It’s a lot easier to have those conversations, because I’ve been there.” n
PATTY DYER VICE PRESIDENT OF MORTGAGE LENDING, UNION SAVINGS BANK
BY DEBBIE SWANSON | SPECIAL TO THE COMMERCIAL RECORD Patty Dyer’s passion for helping people and serving her community is reflected both in her present role as vice president of mortgage lending at Union Savings Bank, and in the PATTY DYER countless hours of charity work she’s accumulated over the years. Dyer’s 35-year career in banking began when she was a college student, working part time in a bank. When she realized that her intended career plan – to teach foreign languages – might not be the future for her, she took a closer look at her banking job. “I’ve been in every aspect of banking, and love mortgage lending the most,” she said. “It’s a good feeling to work with people, help get them settled in their first home. And now, I have the pleasure of helping some of my client’s children, and even grandchildren.” Dyer has closed more than $450 million and over 1,800 loans in her banking career.
At Union for almost 17 years, she has consistently been the top originator and, for each of the last six years, has averaged over $33.5 million in originations. Her passion for people isn’t limited to her day at the bank – Dyer is active in many different organizations. She’s been on the Foundation Board at New Milford Hospital for six years and is on the Board of Realtors in both New Milford and Ridgefield. One project dear to her heart was with American Cancer Society, where she developed and chaired the Little Black Dress fundraiser. “It’s a fun, fashion-oriented event; the woman came in their little black dresses, and just loved it,” she said. Dyer has also planned golf tournaments, gala auctions, wine tastings and car raffles. A 14-hour day is nothing unusual to her. “Doing this really makes me happy. When I’m in the throes of planning and it’s getting insane, I’ll stop and reflect upon what I’m doing it for. When I look at the money raised and the work accomplished, it’s just
a natural high,” she said. Recently at Union, she was appointed leader of a new, forward-thinking effort – a concierge-style solutions team. “It’s the bank’s way of looking to the future, recognizing that brick-and-mortar-style banking is going away,” she said. “This is team of about nine experts from different aspects of banking, and we go into the field, to areas where there isn’t a physical bank building.” She was appointed to the role by Cynthia Merkle, president and CEO of Union Savings Bank, who said Dyer was “a perfect choice for the role, given her sales success and team collaboration skills, as well as her commitment to the community.” Dyer is proud of all her accomplishments, and credits her mother growing up for steering her toward success. “She was my sounding board. Good or bad, she listened,” she said. “The two phrases that stand out the most were “remember, not everyone works the way you do” and “sharpen your pencil, you can do this.” n
CO NGR AT U L AT I O NS PAT T Y DYER Congratulations Patty Dyer, our Vice President of Mortgage Lending and Ridgefield Solutions Team Leader, for being named a 2016 Women of FIRE Recipient. Your energy, efforts and hard work on behalf of Union Savings Bank and the communities we serve is an inspiration to us all! We would also like to congratulate all the 2016 Women of FIRE recipients.
unionsavings.com Read our Business Blog at unionsavings.com/businessblog AUGUST 2016 | THE COMMERCIAL RECORD | 23
MERYL FREEDMAN OFFICE LEADER, VICE PRESIDENT OF SALES, BERKSHIRE HATHAWAY HOMESERVICES NEW ENGLAND PROPERTIES WEST HARTFORD
BY STEVE ADAMS | COMMERCIAL RECORD STAFF Growing up in the New York area gave Meryl Freedman an appreciation of differences. Moves around the country for education and career gave her an understanding of the MERYL FREEDMAN residential real estate sales process. At her current role as leader of a large West Hartford agency, she gets a taste of both. “The thing I really love about West Hartford is the diversity,” said Freedman, office leader and vice president of sales for Berkshire Hathaway HomeServices New England Properties. “This office, with people of all nationalities, it’s kind of a microcosm of the world. I found that exciting and challenging.” Freedman grew up on Long Island and attended Ohio State University before moving to California, where she attended graduate school and took a job as a teacher and
elementary school principal. Career moves brought her young family to the Atlanta area and eventually Connecticut in 1980, where real estate was a natural career transition for a recent mother. Freedman obtained her realty license when her oldest child was 2, working in West Hartford for Buckley Realtors. She attained her first leadership role 11 years later running Prudential Connecticut Realty’s Windsor office, which led to opportunities running a larger office in Simsbury and leading Prudential’s entry into the Granby market with the opening of a satellite office. She was promoted to regional vice president of the Northeast region in 2005. Four years later, she assumed leadership of the company’s West Hartford office, which later became Berkshire Hathaway HomeServices New England Properties. The time was right for Freedman, who was eager for a new challenge. She got a chance to work with top-producing agents and build the office to its current level of 75 agents.
CONGRATULATES THE 2016 WOMEN OF FIRE!
24 | THE COMMERCIAL RECORD | AUGUST 2016
The culture in the West Hartford office “is one of teamwork, support and positive energy: an environment in which I am constantly motivated and challenged,” she said. Given the ever-more-demanding nature of the realty profession, Freedman said she recognizes the need to be supportive of her agents. Clients are more knowledgeable and have higher expectations than ever. “To be an effective leader, you have to be supportive and responsive for your agents,” she said. “You have to listen to their challenges and help facilitate solutions. I truly look forward to coming to work every day!” It’s an attitude her colleagues appreciate. Office Leader and Director of Sales Beth DiLoreto said in her nomination that “Meryl not only coaches the people on her team, but is always willing to brainstorm with and coach her peers. She is an example of what every Realtor, and any woman of finance, insurance or real estate, for that matter, should strive to be like.” n
LAURIE GERVAIS EXECUTIVE VICE PRESIDENT AND CHIEF ADMINISTRATIVE OFFICER, SAVINGS INSTITUTE BANK & TRUST
BY JIM MORRISON | COMMERCIAL RECORD STAFF Laurie Gervais is a natural choice for the Women of FIRE award. In addition to climbing through the ranks from part-time teller to executive vice president and chief adLAURIE GERVAIS ministration officer in her 33-year career, in the early years she was also a volunteer firefighter. “I was the first female firefighter in Windham,” Gervais said. “It was something my father had been involved in and I loved it. I was even offered a job as a paid firefighter. But eventually I got married and was pregnant with my first child, so I stopped.” Gervais, whose firehouse nickname was “Sparky,” credits her parents for the positive attitude and sense of her own capabilities that has fueled her success. “My parents instilled in me that I could do what I set my mind to,” Gervais said.
“They told me to believe in myself and I’d be fine.” It was that can-do attitude that inspired Rheo Brouilliard, president of Savings Institute Bank & Trust, to nominate Gervais for this year’s awards. He said she brings that attitude to every aspect of her job, raising her family and her many volunteer pursuits. “Her positive outlook on life and can-do attitude make her a strong leader and role model,” Brouilliard wrote in his nomination. “She is an excellent manager, one who leads by example, is fair and highly regarded by her peers and staff alike. I am proud to have her on our team.” Though she has held many roles in the male-dominated field of firefighting and banking, Gervais said she didn’t set out to change gender norms. She simply ignored them. “I don’t think I ever thought about the gender component. It was just one of those things when opportunities came about
I would just go for them,” Gervais said. “They’ve treated me well over the years. Their confidence in me has given me confidence in myself. Two of our nine board members are women. Our CFO, senior trust officer, myself are women. We look for who’s the best fit and who can contribute to the team.” After more than three decades with the same institution, she said she’s never considered leaving; she likes being part of such a vital community institution, one that has been around for nearly 175 years and actually predates the incorporation of the city. “I feel like I’ve been here since 1842,” Gervais said. “It’s my way of life. We have close to 300 employees and many of them volunteer in the community. Community is very important to us. We’re not that different from the bank down the street. We all offer the same products. What makes us different is the service. That’s our mentality.” n
Congratulations Laurie! Savings Institute Bank & Trust is proud to honor Laurie Gervais, Executive Vice President and Chief Administrative Officer, as a recipient of the 2016 Women of FIRE Award.
www.savingsinstitute.com • (800) 423-0142 Member FDIC Equal Housing Lender AUGUST 2016 | THE COMMERCIAL RECORD | 25
NANCY HANCOCK PARTNER, EXECUTIVE COMMITTEE MEMBER, PULLMAN & COMLEY LLC
BY ANNA SIMS | SPECIAL TO THE COMMERCIAL RECORD Nancy Hancock might be officially known as a partner and the sole female executive committee member at Pullman & Comley LLC, but she has a different explanation for NANCY HANCOCK her work: “I am the Office of Insoluble Problems,” she said. “And [my clients] come up with the most unique and fascinating problems.” Hancock has worked with many different clients – and thus solved a variety of problems – throughout her career. Many of her clients are entrepreneurs and tech-based companies, though she also works with for the state of Connecticut and local manufacturing companies. Back in the late 1980s, Hancock worked with the team that recovered artifacts from the RMS Titanic. Recently, she started working with one of the state’s new pharmaceutical cannabis producers.
“It’s fascinating, because you’re dealing with brand new regulations, brand new laws,” Hancock said. Still, Hancock insists that most of her work is not so “glitzy and glossy,” but rather “editing the eighth and ninth draft of something.” “I am never bored, even though everybody considers what I do to be extremely tedious,” Hancock said. “But somebody’s got to have the impetus to solve the problem, and I get to do that, which is just so cool.” Hancock’s problem-solving skills have made her invaluable to the firm, said Tim Shearin, chairman of Pullman & Comley. “She knows her stuff backwards and forwards – not only the legal aspects of what a commercial transaction might look like, but because she has so much experience, she also understands the business aspects of what’s going on,” Shearin said. “Not a lot of people have that wisdom.” Nancy Lapera, chair of Pullman & Comley’s employee benefits practice and its wom-
en’s leadership initiative, described Hancock as “very humble. She also has a great sense of humor and [is] very dedicated to her family.” Despite a busy schedule – in addition to her legal work, Hancock is a member of the board of directors of the Connecticut Technology Council and a member of the Connecticut Venture Group – she goes out of her way to find time to spend with her kids. “At one point in my life I realized I would never see my children if I didn’t start meeting them on their own ground,” Hancock recalled. So, she became her children’s Sunday school teacher and started volunteering at their schools. For exercise, she likes to hike and bicycle – activities she can do with her family. “When the kids started taking martial arts lessons, my husband and I signed up for martial arts,” Hancock said with a laugh. The Office of Insoluble Problems, it seems, is a 24-7 business. n
Congratulations to our Colleague and Friend Nancy A. D. Hancock 2016 Woman of FIRE
www.pullcom.com
BRIDGEPORT
HARTFORD
STAMFORD
WATERBURY
WHITE PLAINS
203.330.2000
860.424.4300
203.324.5000
203.573.9700
914.705.5355
26 | THE COMMERCIAL RECORD | AUGUST 2016
MELANIE JOY SENIOR VICE PRESIDENT OF COMMERCIAL BANKING, UNITED BANK
BY DEBBIE SWANSON | SPECIAL TO THE COMMERCIAL RECORD Melanie Joy brings over 25 years of commercial real estate lending experience to her current position as senior vice president of commercial banking at United Bank in MELANIE JOY Glastonbury. Created in 2014 through a merger of United Bank and Rockville Bank, United currently has over 50 branches in Connecticut and Massachusetts, with more than $6.3 billion in assets. Joy began her banking career soon after graduating from the University of Connecticut, where she majored in finance with a concentration in real estate studies. Her first job with Massachusetts Mutual Life Insurance Co. sent her to Atlanta, Georgia, which she recalls as an “eye-opening” experience in which she relished the opportunity to learn, be on her own and explore. She eventually returned to the New
England area to join Liberty Bank, where she became senior vice president and resort finance manager, after many years as a commercial real estate team leader. “It wasn’t until I left real estate lending that I realized how much I liked it,” she said, referring to a five-year stint in timeshare lending. While she enjoyed that opportunity, it helped her to recognize her true passion in commercial real estate. At United, Joy is responsible for originating investment grade loans on properties in the northeast part of the country. This frequently sends her on the road, traveling on average once per month all over New England, throughout New York and Pennsylvania, and as far south as Virginia. She supports the largest portfolio in the bank, with $670 million in real estate loans. She is also an advocate for affordable housing, and has served on the board and as committee chair for Middlesex Habitat for Humanity.
“I like their concept, the element of sweat equity, people working together to help a family get a house,” she said. “It’s a concept I believe in – providing decent, affordable housing for everyone.” With her knowledge of both banking and real estate, she has become a resource for both customers and colleagues. William H.W. Crawford IV, CEO of United Bank and United Financial Bancorp, pointed to Joy’s leadership in the commercial real estate division as a significant contributor to the bank’s successful growth “Melanie truly embodies our vision to achieve excellence in everything we do,” said Crawford. “The reputation she’s earned for being among the best and the brightest in the banking industry, and in the communities we serve, as well as the admiration her teammates and customers have for her, extends beyond Connecticut into the entire Northeast region.” n
CONGRATULATIONS MELANIE JOY
RECIPIENT OF BANKER & TRADESMAN’S 2016 WOMEN OF FIRE AWARD We applaud your dedication to the community, leadership and continued excellence.
866.959.BANK (2265) bankatunited.com Member FDIC Equal Housing Lender
AUGUST 2016 | THE COMMERCIAL RECORD | 27
VICTORIA KAPLAN BROKER/OWNER, BRIAN REALTY
BY ABBY PATKIN | COMMERCIAL RECORD STAFF For Victoria Kaplan, the real estate bug bit early; she was just 18 when she purchased her first property, a two-family home with one apartment for her to live in and one to rent out. Years later, she became the first female real estate broker – and one of the first female Realtors – in the state of Connecticut. For the past 50 years, the real estate broker and owner of Enfield-based Brian Realty has inspired generations of female real estate agents and brokers in Connecticut. When she entered the real estate market as a new mother, she worked for a male broker, and “she put [her son] Brian in the baby carriage and went from house to house looking at listings, and the broker there said, ‘You’ll never become a broker,’” said Kaplan’s friend of 13 years, Linda Baumgarten. “So she decided to become a broker herself and hire women.” Kaplan founded Brian Realty in 1964 and runs it today, managing almost 500 properties with just the help of a personal assistant
and a handyman. “There’s very few women who would do that, especially in a time when, 50 years ago, people weren’t doing that,” Baumgarten said of Kaplan’s decision to open her own firm. Kaplan has also been active in the Connecticut Real Estate Investors Association, through which she has met and inspired many up-and-coming female Realtors and brokers. “She’s definitely an inspiration to everyone who meets her,” said Baumgarten, who is the director of the organization. “She always has a smile and she’s always giving me compliments and she always says, ‘You can do it.’” Like the house she purchased when she was 18, it’s an investment that has paid off: Kaplan received four glowing nominations for the 2016 Women of FIRE awards from various friends and colleagues, all of whom praised her fighting spirit and generous heart. “Victoria is a lifetime achiever and speaker to women across the state,” wrote Liping
28 | THE COMMERCIAL RECORD | AUGUST 2016
Wang, a Realtor with Property World USA to whom Kaplan has provided mentorship. “I have learned tremendously from her and [am] inspired from her bravery, persistence, enthusiasm for the real estate industry and her wisdom. She is my idol, my mentor, my teacher. I would strongly recommend Victoria to be the best broker in the industry.” “Victoria Kaplan is an amazing businessperson and woman. She is very supportive of other women, taking the time to offer words of encouragement or advice. She is well respected and admired for her real estate acumen,” added Laura Abbott, the owner of Apple Pie Properties. Now, though she’s been in business for over 52 years and has no doubt had enough real estate experience to last a lifetime, Kaplan continues to take a hands-on approach and set the standard for her peers. “She’s just a great example of how women can be successful in real estate and business,” Baumgarten said. “She’s an inspiration.” n
ELIZABETH VERNA OWNER/MANAGER, VERNA PROPERTIES
BY MALEA RITZ | COMMERCIAL RECORD STAFF Elizabeth Verna joined the family business in real estate development shortly after working as an editorial assistant at Vogue Italia in New York. The career jump was ELIZABETH VERNA unplanned, she said, but as a member of an Italian family with a family business, “It was a great opportunity. I really never thought I would work in the homebuilding industry. It really wasn’t something that I was raised to do,” Verna said. “My dad had faith in me and I was good organizing things and I had a good business [mindset].” Verna now owns and operates Verna Properties LLC and continues the “tradition of her father, Vincenzo Verna, who emigrated from Italy and built the company from the ground up,” said Laura Bunnell, administrative assistant at Verna Properties.
“It truly takes an entire family to build a family business,” Verna said. “It was constant work, constant commitment [to build] something better for his family. He taught me hard work, but he also lived by the golden rule – treat others the way you want to be treated – and that’s how I live every day.” Verna manages the commercial end of the businesses, working on leases with various tenants and commercial brokers. She also acts as the liaison with town officials. As a female in a primarily male-dominated industry, she has noticed subcontractors at construction sites often make assumptions about her role. “I will walk on a job site and my subcontractors think I’m either the homeowner or the Realtor,” she said. Verna said when she tells people she is a builder, she often gets the question, “What do you mean you’re a builder? Do you go out there and bang nails?” “I don’t know if they would ask that ques-
tion if I was a guy,” she said. “I think that after 25 years I’ve gained the respect of subs and other builders around the state, and I hope that someday their daughters will be doing what I’m doing.” One of her current favorite projects is Hillcrest Village in Southington. Verna said that sometimes subdivisions just appeal to new homebuyers or empty-nesters, but this one appeals to both. “These are the perfect plans and I can truly said I nailed it,” she said. “The community, location, product and price standpoint appeals to all sectors of the community.” Two of the most rewarding aspects of her job, she said, is creating jobs and being an advocate for good housing. “The best thing is when you drive through a community that has been built a decade later and you see neighbors walking a dog and families enjoying the entire community, and you remember when you poured the first footing. It truly is a sense of pride.” n
MARGARET WILCOX VICE PRESIDENT OF SALES, WILLIAM RAVEIS REAL ESTATE AGENCY TEAM LEADER, MARGARET WILCOX & ASSOCIATES
BY LINDA GOODSPEED | SPECIAL TO THE COMMERCIAL RECORD Margaret Wilcox remembers reading an advertisement in her local newspaper in 2002: “Are you independent? Self-motivated? Like to work hard? Like people?” MARGARET WILCOX “Yes,” Wilcox remembers thinking. “I like all those things.” “Then a career in real estate might be for you,” the ad concluded. Wilcox, in transition at the time with her children mostly grown and her physician husband closing his practice where she was the office manager, decided to answer the ad. She has not looked back since. Her first full year selling real estate (2003), Wilcox was named “Rookie of the Year” for Westchester County. She doubled her business in 2004, doubled it again the following year, and is now listed among the top Realtors in the country, ranked as high
as 186 (by sales volume) by the Wall Street Journal. She is consistently listed among the top Realtors in Connecticut. She now heads a team of 10 agents in Glastonbury at the William Raveis Real Estate Agency. “I’ve always been very involved in the community as a volunteer,” Wilcox said. “I think my hard work as a volunteer, and my business background in my husband’s office, contributed to my fairly rapid success as a Realtor.” That, and her love of people. “To be a Realtor, you really have to enjoy working with people,” Wilcox continued. “You have to understand and communicate with them about their needs, wants and desires. I really care about my clients. That gets spread around. I’m also a good marketer of their homes.” She says the collaborative nature of real estate makes it a great career choice for women.
“Sometimes people mistakenly think it’s a career where you can make your own hours. You can make your own hours as long as you’re willing to work 10 or 12 hours a day, seven days a week,” she laughed. “It’s not an easy job. It can be wonderfully rewarding, and at times the most challenging job you can imagine. Homes are usually people’s most valuable asset. It’s also their home, which makes it very emotional.” Wilcox grew up in Middletown and graduated from Bates College in Maine. Before becoming a Realtor, she taught middle school, worked as a mental health counselor, and later ran her husband’s medical office. She is an active member of her community, serving on the board of the Connecticut River Valley Chamber of Commerce. She is also a member of the Glastonbury Education Foundation, the Glastonbury Public Library’s Second Century Club, Glastonbury Rotary Club and many other local charities. n
AUGUST 2016 | THE COMMERCIAL RECORD | 29
TOP COMMERCIAL TRANSACTIONS Visit www.commercialrecord.com for a complete list of commercial transactions updated weekly. TOP 3 STATEWIDE Depot Hill Rd, Enfield............................ $10,000,000
25 Bacon Rd, Enfield............................. $8,500,000
4 Craftsman Rd, East Windsor............... $7,400,000
Use:..................................................Industrial Building
Use:............................... Mixed Use-Prim Indust & Agri
Use:.............................................Industrial Warehouse
Buyer: ................................. RSP Capital Holdings LLC
Buyer: .................................... We 25 Bacon Road LLC
Buyer:...................................IPT East Windsor DC LLC
Seller: ......................................... Tri State Rentals LLC
Seller: ............................................ Hallmark Cards Inc
Seller: ........................................Craftsman Realty LLC
Mtg: ...................... Tri State Rentals LLC $15,000,000
Mtg: ................................ Farmington Bk $19,000,000
Date:............................................................ 06/22/16
Date: ............................................................ 06/06/16
Date: ............................................................ 06/17/16
Total Assessed Value (2016):..................... $3,353,230
Total Assessed Value (2015): .....................$3,008,350
Total Assessed Value (2015): ...................$20,876,600
Lot Size: ....................................................... 435600sf
Lot Size: ....................................................... 605484sf
Lot Size:................................................... 13272732sf
Prior Sale: .....................................$2,867,500 (12/03)
Prior Sale: ........................................$900,000 (05/95)
FAIRFIELD 675 Steamboat Rd, Greenwich....... $7,100,000 Use:.............................. Mixed Use-Prim Res & Comm Buyer: ............................ Cecilia Attias & Richard Attias Seller:......................................................... Carol Kahn Date: ............................................................ 07/01/16 Total Assessed Value (2016): .....................$3,766,070 Lot Size:......................................................... 25265sf Prior Sale: ........................................$520,000 (09/01)
110 Viaduct Rd, Stamford............... $4,500,000 Use:..................................................Industrial Building Buyer: ............................................Alpine Universal Inc Seller: ...................................... 10 Hope Investors LLC Mtg: ......................... Bank of America NA $3,200,000 Date: ............................................................ 06/13/16 Total Assessed Value (2016): .....................$2,533,550 Lot Size: ......................................................... 86729sf Prior Sale:........................................ $900,000 (03/99)
2390 Easton Tpke, Fairfield............ $4,000,000 Use:................................ County/Municipality Property Buyer: ......................................Sacred Heart University Seller: ..............................................Bridgeport City Of Date: ............................................................ 06/30/16 Total Assessed Value (2016):................... $13,364,960 Lot Size: ................................................... 13939200sf
25 Bacon Rd, Enfield...................... $8,500,000 Use:............................... Mixed Use-Prim Indust & Agri Buyer: .................................... We 25 Bacon Road LLC Seller: ............................................ Hallmark Cards Inc Mtg: ................................ Farmington Bk $19,000,000 Date: ............................................................ 06/17/16 Total Assessed Value (2015): ...................$20,876,600 Lot Size: ................................................... 13272732sf
4 Craftsman Rd, East Windsor........ $7,400,000 Use:.............................................Industrial Warehouse Buyer: ..................................IPT East Windsor DC LLC Seller: ........................................Craftsman Realty LLC Date: ............................................................ 06/22/16 Total Assessed Value (2016): .....................$3,353,230 Lot Size:........................................................ 435600sf Prior Sale: .....................................$2,867,500 (12/03)
89 Farley Pl, Torrington................... $950,000 Use:................................................... Commercial Use Buyer: .................................................. Lax Media LLC Seller: .................................................Ledgemere LLC Mtg: ....................... Freedom National Bank $712,500 Date: ............................................................ 06/06/16 Total Assessed Value (2016): ........................$633,640 Lot Size: ......................................................... 47916sf Prior Sale: .....................................$1,200,000 (01/05)
10 Titus Rd, Washington.................. $800,000 Use:................................Mixed Use-Prim Comm & Ind Buyer: ..................................................Titus Road LLC Seller: ...................................................... 10 Titus LLC Date: ............................................................ 06/06/16 Total Assessed Value (2016): ........................$413,000 Lot Size: ......................................................... 33541sf
145 Hubbard St, Middlefield............ $220,000 Use:.................................................Religious Property Buyer: .................................................James R Lyman Seller: ................................ Saint Colman Church Corp Mtg:............................................ Liberty Bk $187,000 Date: ............................................................ 06/23/16 Total Assessed Value (2016): ........................$146,900 Lot Size: ......................................................... 15682sf
71 West St, Cromwell....................... $95,000 Use:................................... Apartment Bldg - 4-8 Units Buyer: ..............................................Spencer Wetmore Seller: ................................................... Andrew Saltus Mtg:.......................... Primary Residentl Mtg $279,837 Date: ............................................................ 07/01/16 Total Assessed Value (2015):........................ $160,770 Lot Size:........................................................... 7405sf
HARTFORD 1 Depot Hill Rd, Enfield..................$10,000,000 Use:..................................................Industrial Building Buyer: ................................. RSP Capital Holdings LLC Seller: ......................................... Tri State Rentals LLC Mtg: ...................... Tri State Rentals LLC $15,000,000 Date:............................................................ 06/06/16 Total Assessed Value (2015): .....................$3,008,350 Lot Size: ....................................................... 605484sf Prior Sale:........................................ $900,000 (05/95)
LITCHFIELD 24-B Old North Rd, Washington...... $6,500,000 Use:............................................ Land-Vacant & Open Buyer: ....................................................James G Kelly Seller: .......................Douglas C Day & Suzanne D Day Date: ............................................................ 05/24/16 Total Assessed Value (2016): ........................$441,000 Lot Size: ....................................................... 309276sf
MIDDLESEX 1 W Main St, Clinton........................ $985,000 Use:............................................. Commercial Building Buyer: ........................................... Clinical Staff Builder Seller: ........................................Premier Real Est Svcs Mtg: .......................... Premier Real Estate S $738,750 Date: ............................................................ 06/27/16 Total Assessed Value (2016): ........................$467,600 Lot Size: ........................................................... 8712sf
30 | THE COMMERCIAL RECORD | AUGUST 2016
Photo courtesy of Mark Conrad | CT Post.
FEATURED PROPERTY 2390 Easton Tpke, Fairfield.......................................................... $4,000,000 Use:........................................................................... County/Municipality Property Buyer: .................................................................................Sacred Heart University Seller: ......................................................................................... Bridgeport City Of Date: ........................................................................................................06/30/16 Total Assessed Value (2016):.............................................................. $13,364,960 Lot Size: .............................................................................................. 13939200sf
NEW HAVEN 390 Bee St, Meriden....................... $6,900,000 Use:............................................. Commercial Building Buyer:.......................................... Infinity Crossing LLC Seller: ..............................................390 Holdings LLC Mtg: ...............................Customers Bank $5,520,000 Date: ............................................................ 06/09/16 Total Assessed Value (2016):..................... $4,709,040 Lot Size: ....................................................... 156711sf Prior Sale: .....................................$1,577,000 (12/12)
340 Woodmont Rd, Milford............. $2,425,000 Use:............................................. Commercial Building Buyer:..................................340 Woodmont Road LLC Seller: ............................................... LBI Industries Inc Date:............................................................ 06/27/16 Total Assessed Value (2016): .....................$2,099,930 Lot Size:......................................................... 79279sf Prior Sale: .....................................$2,400,000 (11/95)
68 Trumbull St, New Haven............. $1,450,000 Use:........................................................... Parking Lot Buyer:............................... Buckhead Investments LLC Seller: ........................................ Whitney Trumbull LLC Date:............................................................ 06/14/16 Total Assessed Value (2016): ..........................$72,240 Lot Size: ........................................................... 2573sf
83 Halls Rd, Old Lyme..................... $2,300,000 Use:............................................. Commercial Building Buyer: ........................................................Jia Mei LLC Seller: ...................................................... 83 Halls LLC Mtg: ..........................Essex Savings Bank $1,725,000 Date: ............................................................ 06/08/16 Total Assessed Value (2016): .....................$1,428,600 Lot Size:.......................................................... 50094sf Prior Sale: .....................................$1,050,000 (05/02)
6 Liberty Way, East Lyme................ $1,300,000 Use:............................................. Commercial Building Buyer:............................................... 6 Libert Way LLC Seller: ........................................ Christopher M Barrett Mtg:........................ Chelsea Groton Bank $1,244,268 Date:............................................................ 06/28/16 Total Assessed Value (2015): ........................$926,660 Lot Size:......................................................... 86684sf Prior Sale: ..........................................$75,000 (09/92)
16 King Hill Rd, Mansfield............... $950,000 Use:............................................. Commercial Building Buyer: ..................................... King Hill Properties LLC Seller: ........................................... King Hill Realty LLC Mtg: .......................................... Celtic Bank $755,200 Date: ............................................................ 06/27/16 Total Assessed Value (2016): ........................$314,400 Lot Size: ........................................................... 8712sf Prior Sale: ........................................$500,000 (10/01)
48 Lovers Ln, Somers...................... $250,000 Use:......................................................... Open Space Buyer:............................ Joseph A Frigo & Lisa E Frigo Seller: ............................................... Roulier Family LP Date: ............................................................ 06/20/16 Total Assessed Value (2016): ........................$146,530 Lot Size: ....................................................... 404672sf
471 Senexet Rd, Woodstock............ $220,000 Use:............................ Mixed Use-Prim Comm & Resd Buyer: ............................................. Jacquelyn L Manzi Seller: .................... Timothy L Walker & Bette L Walker Mtg: ........................Webster FiveCent Svgs $187,000 Date: ............................................................ 06/15/16 Total Assessed Value (2016): ........................$173,400 Lot Size: ......................................................... 69696sf Prior Sale: ........................................$132,472 (11/99)
456 S Canterbury Rd, Canterbury.... $185,500 Use:...................................Mixed Use-Agricult & Resid Buyer: .......................... Jeremy J Ivan & Melissa A Ivan Seller: .................................................. Selig Schwitzer Mtg: ............................................ Mortgage $182,139 Date: ............................................................ 06/20/16 Total Assessed Value (2016): ........................$197,500 Lot Size: ....................................................... 108900sf Prior Sale: ........................................$900,000 (11/06)
NEW LONDON 9 Wisconsin Ave, Norwich.............. $5,360,000 Use:..................................................Industrial Building Buyer:................................... Norwich Warehouse LLC Seller:.................................... Spirit Master Funding 10 Date: ............................................................ 07/06/16 Total Assessed Value (2016): .....................$1,611,400 Lot Size: ....................................................... 506603sf Prior Sale:..................................... $3,700,000 (12/14)
TOLLAND 352 Hartford Tpke, Vernon............. $1,300,000 Use:.................................................Shopping Ctr/Mall Buyer:................................. 352 Hartford Turnpike LLC Seller: ...............................................Risley Realty LLC Mtg: ......................................United Bank $1,162,500 Date: ............................................................ 06/28/16 Total Assessed Value (2015):........................ $770,000 Lot Size:......................................................... 94090sf
WINDHAM 33 Miller Rd, Sterling....................... $384,500 Use:.................................. Forest Use-Christmas Trees Buyer: ....................Jerimy L Williams & Nicole Williams Seller:................... Robert J Mclevy & Susan M Mclevy Mtg:...................... JG Wentworth Hm Lend $365,275 Date: ............................................................ 06/29/16 Total Assessed Value (2016): ........................$311,850 Lot Size:....................................................... 396396sf Prior Sale:........................................ $250,000 (07/88)
AUGUST 2016 | THE COMMERCIAL RECORD | 31
TRENDLINES
FAIRFIELD COUNTY SALES REPORT
NUMBER OF SALES
MEDIAN PRICE
JUN 2015
JUN %CHG 2015 2016 15-16 YTD
2016 YTD
1 Family
1 1
24
118.18%
70
80
14.29%
$338,000
$285,000
-15.68%
$293,000
$293,750
0.26%
Condo
9
9
0.00%
37
34
-8.11%
$309,407
$179,000
-42.15%
$290,000
$266,500
-8.10%
2 8
44
57.14%
128
150
17.19%
$309,654
$278,000
-10.22%
$296,000
$289,500
-2.20%
$151,000
0.67%
%CHG 15-16
JUN 2015
JUN %CHG 2015 2016 15-16 YTD
2016 %CHG YTD 15-16
BETHEL
All Sales
BRIDGEPORT 1 Family
5 1
54
5.88%
199
242
21.61%
$140,000
$138,750
-0.89%
$150,000
Condo
2 6
25
-3.85%
82
91
10.98%
$99,050
$67,725
-31.63%
$82,300
1 28
129
0.78%
486
581
19.55%
$127,550
$122,700
-3.80%
$129,950
$130,000
0.04%
-8.23%
All Sales
$65,000 -21.02%
BROOKFIELD 1 Family
1 5
19
26.67%
70
85
21.43%
$400,000
$327,500
-18.13%
$370,500
$340,000
Condo
1 2
8
-33.33%
34
31
-8.82%
$290,450
$212,500
-26.84%
$180,000
$196,750
9.31%
3 1
32
3.23%
143
145
1.40%
$376,000
$317,450
-15.57%
$320,000
$295,000
-7.81%
1 Family
3 8
52
36.84%
157
207
31.85%
$232,126
$270,500
16.53%
$257,000
$260,000
1.17%
Condo
4 2
43
2.38%
149
172
15.44%
$190,300
$238,000
25.07%
$185,000
$189,500
2.43%
1 02
123
20.59%
412
509
23.54%
$232,126
$265,000
14.16%
$250,000
$255,000
2.00%
1 Family
5 5
42
-23.64%
151
147
-2.65%
$1,200,000
$1,714,500
42.88% $1,277,000
$1,350,000
5.72%
Condo
3
4
33.33%
19
13
-31.58%
$1,795,452
$1,114,750
-37.91% $1,713,016
6 1
49
-19.67%
185
176
-4.86%
$1,280,000
$1,627,500
27.15% $1,485,000
1 Family
7
8
14.29%
51
49
-3.92%
$625,000
$665,000
Condo
0
0
0
0
8
10
25.00%
54
59
9.26%
$607,500
$602,500
105
12.90%
343
325
-5.25%
$495,000
6
-33.33%
43
42
-2.33%
$600,200
123
5.13%
434
420
-3.23%
All Sales
DANBURY
All Sales
DARIEN
All Sales
$1,469,500 -14.22% $1,350,000
-9.09%
$600,000
5.26%
EASTON
All Sales
N/A
N/A
N/A
N/A
6.40% N/A
$570,000 N/A
N/A
N/A
-0.82%
$567,500
$591,500
4.23%
$600,000
21.21%
$545,000
$576,500
5.78%
$382,500
-36.27%
$365,000
$297,250 -18.56%
$495,000
$589,000
18.99%
$515,250
$535,000
3.83%
-13.24% $1,452,500
$1,450,000
-0.17%
$630,000
-2.93%
FAIRFIELD 1 Family
9 3
Condo
9
All Sales
1 17
GREENWICH 1 Family
7 9
57
-27.85%
228
168
-26.32%
$1,700,000
$1,475,000
Condo
2 1
15
-28.57%
65
63
-3.08%
$720,000
$615,000
1 11
78
-29.73%
343
269
-21.57%
$1,430,000
$1,187,500
1 Family
2 0
23
15.00%
88
83
-5.68%
$295,000
$420,000
42.37%
$335,450
$361,000
7.62%
Condo
1 0
6
-40.00%
28
26
-7.14%
$193,600
$206,250
6.53%
$200,750
$225,000
12.08%
32
0.00%
128
125
-2.34%
$268,950
$392,500
45.94%
$298,750
$330,000
10.46%
-12.15% $1,523,750
$1,410,000
-7.47%
All Sales
-14.58%
$649,000
-16.96% $1,250,724
$1,100,000 -12.05%
MONROE
All Sales
3 2
NEW CANAAN 1 Family
6 3
38
-39.68%
150
111
-26.00%
$1,625,000
$1,427,500
Condo
5
9
80.00%
26
28
7.69%
$840,000
$950,625
7 2
48
-33.33%
195
150
-23.08%
$1,456,625
$1,275,500
18
-25.00%
74
96
29.73%
$372,500
$360,000
0 -100.00%
9
2
-77.78%
$331,210
-32.26%
97
107
10.31%
$354,000
$390,000
$405,000
All Sales
13.17%
$834,500
-12.43% $1,375,000
$652,500 -21.81% $1,274,900
-7.28%
NEW FAIRFIELD 1 Family
2 4
Condo
3
All Sales
3 1
21
-3.36%
$372,500
N/A -100.00%
$232,110
$300,085 -19.44% N/A -100.00%
10.17%
$331,210
$295,000 -10.93%
8.29%
$372,000
$370,000
-0.54%
N/A -100.00%
$303,500
$275,000
-9.39%
$362,500
$369,998
2.07%
NEWTOWN 1 Family
4 1
51
24.39%
178
184
3.37%
$374,000
Condo
4
2
-50.00%
9
11
22.22%
$314,250
5 1
63
23.53%
211
226
7.11%
$374,000
All Sales
32 | THE COMMERCIAL RECORD | AUGUST 2016
$410,000
9.63%
Real estate & credit transactions updated every Thursday
www.commercialrecord.com • subscribers only
NUMBER OF SALES JUN 2015
JUN %CHG 2015 2016 15-16 YTD
2016 YTD
MEDIAN PRICE %CHG 15-16
JUN 2015
JUN %CHG 2015 2016 15-16 YTD
2016 %CHG YTD 15-16
NORWALK 1 Family
9 3
77
-17.20%
293
303
3.41%
$480,000
$440,000
-8.33%
$450,000
$421,000
-6.44%
Condo
3 5
35
0.00%
158
149
-5.70%
$272,000
$275,000
1.10%
$258,750
$275,000
6.28%
1 44
129
-10.42%
522
541
3.64%
$395,000
$405,000
2.53%
$376,250
$385,000
2.33%
1 Family
1 2
14
16.67%
54
62
14.81%
$509,500
$547,500
7.46%
$530,000
$519,500
-1.98%
Condo
0
0
0
2
1 3
18
38.46%
60
76
All Sales
REDDING
All Sales
N/A
N/A
N/A
N/A
26.67%
$509,500
$542,500
N/A
N/A
N/A
N/A
6.48%
$521,250
$515,000
-1.20%
RIDGEFIELD 1 Family
4 7
39
-17.02%
137
142
3.65%
$660,000
$690,000
4.55%
$644,800
$649,900
0.79%
Condo
1 0
6
-40.00%
30
33
10.00%
$198,950
$169,000
-15.05%
$193,346
$212,000
9.65%
6 1
48
-21.31%
186
187
0.54%
$644,800
$659,353
2.26%
$577,500
$595,000
3.03%
1 Family
4 1
41
0.00%
139
163
17.27%
$328,000
$315,000
-3.96%
$285,000
$300,000
5.26%
Condo
1 6
16
0.00%
72
62
-13.89%
$291,250
$244,000
-16.22%
$245,000
$225,000
-8.16%
67
0.00%
248
263
6.05%
$328,000
$287,500
-12.35%
$288,250
$285,000
-1.13%
-40.00%
23
23
0.00%
$459,000
$536,750
16.94%
$425,000
$499,000
17.41%
0
0
All Sales
SHELTON
All Sales
6 7
SHERMAN 1 Family
1 0
6
Condo
0
0
1 2
8
-33.33%
27
28
3.70%
$442,000
$446,250
0.96%
$400,000
$446,250
11.56%
All Sales
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
STAMFORD 1 Family
7 8
62
-20.51%
290
320
10.34%
$535,000
$569,500
6.45%
$535,000
$550,000
2.80%
Condo
6 5
74
13.85%
253
305
20.55%
$315,000
$329,750
4.68%
$289,000
$312,000
7.96%
1 67
167
0.00%
648
783
20.83%
$413,730
$420,000
1.52%
$404,950
$430,000
6.19%
-2.22%
All Sales
STRATFORD 1 Family
7 1
54
-23.94%
245
271
10.61%
$225,000
$237,450
5.53%
$225,000
$220,000
Condo
1 3
10
-23.08%
56
74
32.14%
$165,000
$166,200
0.73%
$180,000
$152,500 -15.28%
78
-17.89%
362
425
17.40%
$222,000
$225,000
1.35%
$214,950
$200,000
-6.96%
$361,950
0.53%
$351,000
$358,700
2.19%
N/A -100.00%
$323,450
$335,000
3.57%
All Sales
9 5
TRUMBULL 1 Family
5 3
62
16.98%
154
222
44.16%
$360,033
Condo
8
2
-75.00%
16
15
-6.25%
$331,200
6 5
66
1.54%
189
247
30.69%
$350,000
$360,950
3.13%
$349,900
$353,000
0.89%
1 Family
2 7
20
-25.93%
75
67
-10.67%
$865,000
$811,250
-6.21%
$805,000
$745,000
-7.45%
Condo
0
0
0
0
2 8
20
-28.57%
82
69
All Sales
WESTON
All Sales
N/A
N/A
N/A
N/A
-15.85%
$858,500
$811,250
$1,275,000
N/A -5.50%
N/A
N/A
N/A
$802,500
$730,000
-9.03%
-8.60% $1,130,000
WESTPORT 1 Family
3 9
41
5.13%
159
180
13.21%
$1,395,000
Condo
4
1
-75.00%
14
11
-21.43%
$602,500
4 8
48
0.00%
202
218
7.92%
$1,220,500
$1,225,438
1 Family
3 1
38
22.58%
97
99
2.06%
$1,008,500
$847,500
Condo
7
2
-71.43%
15
19
26.67%
$302,000
4 2
42
0.00%
125
127
1.60%
$793,500
$834,000
All Sales
$1,243,750
10.07%
$636,375
$715,000
12.36%
0.40% $1,050,000
$1,185,000
12.86%
-5.74%
N/A -100.00%
WILTON
All Sales
-15.96%
$869,950
$820,000
N/A -100.00%
$306,000
$336,500
9.97%
5.10%
$799,000
$760,000
-4.88%
FAIRFIELD COUNTY 1 Family
9 99
945
-5.41% 3,425
3,629
5.96%
$500,000
$495,000
-1.00%
$470,000
$427,500
-9.04%
Condo
3 02
273
-9.60% 1,115
1,183
6.10%
$285,000
$275,000
-3.51%
$262,650
$252,000
-4.05%
1 ,514 1,443
-4.69% 5,467
5,881
7.57%
$415,000
$398,000
-4.10%
$385,000
$365,000
-5.19%
All Sales
AUGUST 2016 | THE COMMERCIAL RECORD | 33
TRENDLINES
HARTFORD COUNTY SALES REPORT
NUMBER OF SALES JUN 2015
JUN %CHG 2015 2016 15-16 YTD
4 1 7 5 1
22 13 36
-46.34% 85.71% -29.41%
111 57 184
2 0 7 3 2
21 6 28
5.00% -14.29% -12.50%
2 0 5 2 9
20 5 28
7 2 1 1 9 7
2016 YTD
MEDIAN PRICE %CHG 15-16
JUN 2015
JUN %CHG 2015 2016 15-16 YTD
2016 %CHG YTD 15-16
90 48 149
-18.92% -15.79% -19.02%
$457,000 $194,000 $425,000
$445,250 $192,000 $285,000
-2.57% -1.03% -32.94%
$425,000 $205,000 $330,000
$384,500 $191,000 $297,500
-9.53% -6.83% -9.85%
60 26 104
78 22 113
30.00% -15.38% 8.65%
$273,000 $248,925 $258,113
$225,000 $262,500 $222,500
-17.58% 5.45% -13.80%
$246,250 $217,450 $245,500
$227,450 $257,500 $230,000
-7.63% 18.42% -6.31%
0.00% 0.00% -3.45%
105 18 137
117 28 165
11.43% 55.56% 20.44%
$181,500 $239,900 $183,000
$161,000 $265,000 $175,000
-11.29% 10.46% -4.37%
$179,250 $223,700 $182,000
$165,000 $201,500 $185,000
-7.95% -9.92% 1.65%
65 16 98
-9.72% 45.45% 1.03%
196 31 283
247 54 381
26.02% 74.19% 34.63%
$181,250 $122,000 $170,111
$190,000 $102,000 $167,000
4.83% -16.39% -1.83%
$179,950 $100,000 $168,625
$174,000 $100,000 $159,900
-3.31% 0.00% -5.17%
1 3 0 1 7
9 0 12
-30.77% N/A -29.41%
48 0 61
50 2 61
$385,000 N/A $380,000
$308,500 -19.87% $312,750 N/A N/A N/A $243,500 -35.92% $297,500
$270,100 -13.64% N/A N/A $279,000 -6.22%
1 5 5 2 4
11 5 19
-26.67% 0.00% -20.83%
41 22 74
51 14 74
24.39% -36.36% 0.00%
$400,000 $293,250 $328,500
$322,500 $156,000 $312,000
$317,500 3.42% $157,250 -14.60% $275,000 12.24%
11 120.00% 0 -100.00% 12 100.00%
17 4 27
32 5 42
88.24% 25.00% 55.56%
$172,000 N/A $162,000
$255,000 48.26% $230,900 N/A N/A $86,342 $254,000 56.79% $235,000
$254,000 $132,000 $241,250
AVON 1 Family Condo All Sales
BERLIN 1 Family Condo All Sales
BLOOMFIELD 1 Family Condo All Sales
BRISTOL 1 Family Condo All Sales
BURLINGTON 1 Family Condo All Sales
4.17% N/A 0.00%
CANTON 1 Family Condo All Sales
-19.38% -46.80% -5.02%
$307,000 $184,125 $245,000
EAST GRANBY 1 Family Condo All Sales
5 1 6
10.00% 52.88% 2.66%
EAST HARTFORD 1 Family Condo All Sales
3 8 3 5 0
46 7 75
21.05% 133.33% 50.00%
171 20 250
216 20 311
26.32% 0.00% 24.40%
$136,750 $37,000 $134,500
$139,648 $70,100 $136,000
2.12% 89.46% 1.12%
$135,000 $54,000 $137,500
$145,000 7.41% $144,301 167.22% $141,607 2.99%
1 1 4 1 8
10 7 22
-9.09% 75.00% 22.22%
41 18 71
41 14 73
0.00% -22.22% 2.82%
$200,000 $260,000 $233,750
$233,900 $137,500 $167,500
16.95% -47.12% -28.34%
$160,000 $155,950 $157,000
$200,000 $151,500 $165,000
25.00% -2.85% 5.10%
6 5 1 2 9 1
51 13 78
-21.54% 8.33% -14.29%
201 54 285
223 53 317
10.95% -1.85% 11.23%
$160,000 $135,500 $160,000
$174,900 $134,900 $174,900
9.31% -0.44% 9.31%
$163,000 $138,500 $160,000
$168,500 $129,500 $162,000
3.37% -6.50% 1.25%
25 26 56
13.64% 13.04% 14.29%
93 65 185
116 94 229
24.73% 44.62% 23.78%
$314,950 $195,000 $216,000
$329,900 $215,380 $245,000
4.75% 10.45% 13.43%
$335,000 $195,000 $288,000
$329,950 $189,077 $275,000
-1.51% -3.04% -4.51%
5 3 1 2 7 0
58 14 79
9.43% 16.67% 12.86%
151 56 244
206 62 299
36.42% 10.71% 22.54%
$362,000 $237,450 $337,000
$337,000 $191,500 $315,900
-6.91% -19.35% -6.26%
$338,000 $176,500 $305,000
$329,450 $169,000 $299,900
-2.53% -4.25% -1.67%
2 0 4 2 9
22 3 27
10.00% -25.00% -6.90%
59 11 82
74 7 102
25.42% -36.36% 24.39%
$284,500 $171,563 $280,000
$259,000 $264,000 $264,000
-8.96% 53.88% -5.71%
$273,000 $174,900 $255,000
$268,750 $215,000 $256,750
-1.56% 22.93% 0.69%
22 18 77
-21.43% 100.00% -2.53%
124 57 344
124 61 394
0.00% 7.02% 14.53%
$133,750 $125,000 $137,000
$111,500 $62,000 $110,000
-16.64% -50.40% -19.71%
$105,000 $55,000 $115,000
$98,778 $50,000 $111,750
-5.93% -9.09% -2.83%
10 0 10
8 0 9
EAST WINDSOR 1 Family Condo All Sales
ENFIELD 1 Family Condo All Sales
FARMINGTON 1 Family Condo All Sales
2 2 2 3 4 9
GLASTONBURY 1 Family Condo All Sales
GRANBY 1 Family Condo All Sales
HARTFORD 1 Family Condo All Sales
2 8 9 7 9
HARTLAND 1 Family Condo All Sales
1 0 1
1 0 1
0.00% N/A 0.00%
-20.00% N/A -10.00%
34 | THE COMMERCIAL RECORD | AUGUST 2016
N/A N/A N/A
N/A N/A N/A
N/A $212,000 N/A N/A N/A $212,000
$269,500 27.12% N/A N/A $265,000 25.00%
Real estate & credit transactions updated every Thursday
www.commercialrecord.com • subscribers only
NUMBER OF SALES JUN 2015
JUN %CHG 2015 2016 15-16 YTD
2016 YTD
MEDIAN PRICE %CHG 15-16
JUN 2015
JUN %CHG 2015 2016 15-16 YTD
2016 %CHG YTD 15-16
MANCHESTER 1 Family Condo All Sales
5 5 1 0 7 4
59 8 77
7.27% -20.00% 4.05%
186 33 270
262 51 398
40.86% 54.55% 47.41%
$172,000 $182,250 $173,950
$167,000 $151,000 $165,000
-2.91% -17.15% -5.15%
$159,900 $115,000 $154,950
$164,900 $115,000 $162,753
3.13% 0.00% 5.04%
16 0.00% 0 -100.00% 18 -18.18%
34 6 47
36 1 40
5.88% -83.33% -14.89%
$249,950 $197,000 $228,500
$237,500 -4.98% N/A -100.00% $237,500 3.94%
$235,000 $197,000 $225,000
$274,250 16.70% N/A - 100.00% $271,500 20.67%
MARLBOROUGH 1 Family Condo All Sales
1 6 4 2 2
NEW BRITAIN 1 Family Condo All Sales
3 8 5 6 7
18 1 42
-52.63% -80.00% -37.31%
155 31 288
171 23 324
10.32% -25.81% 12.50%
$138,750 $72,500 $130,000
$141,250 1.80% N/A -100.00% $125,500 -3.46%
$125,500 $61,800 $124,000
$133,000 $65,000 $128,125
5.98% 5.18% 3.33%
7 8 18
-82.93% -33.33% -68.42%
123 48 196
87 57 162
-29.27% 18.75% -17.35%
$215,000 $130,950 $205,900
$177,000 $128,550 $176,000
-17.67% -1.83% -14.52%
$207,000 $139,950 $192,750
$205,000 $135,400 $184,000
-0.97% -3.25% -4.54%
15 8 29
-6.25% 100.00% 11.54%
56 21 94
65 26 117
16.07% 23.81% 24.47%
$182,500 $140,000 $177,500
$179,500 $247,500 $185,000
-1.64% 76.79% 4.23%
$187,500 $145,500 $182,500
$179,500 -4.27% $121,500 -16.49% $173,000 -5.21%
9 14 24
-47.06% 7.69% -27.27%
55 53 122
58 76 149
5.45% 43.40% 22.13%
$235,000 $180,000 $192,500
$305,000 $142,000 $210,000
29.79% -21.11% 9.09%
$238,500 $155,000 $191,750
$274,500 $165,000 $205,000
15.09% 6.45% 6.91%
52 9 63
52.94% 28.57% 43.18%
122 32 164
174 37 222
42.62% 15.63% 35.37%
$362,450 $134,600 $330,500
$332,250 $186,750 $322,000
-8.33% 38.74% -2.57%
$317,750 $165,250 $295,000
$307,500 $161,000 $290,750
-3.23% -2.57% -1.44%
25 8 37
-13.79% -42.86% -15.91%
89 36 141
108 46 177
21.35% 27.78% 25.53%
$263,000 $129,500 $246,000
$290,000 $226,750 $264,900
10.27% 75.10% 7.68%
$274,900 $135,950 $247,000
$261,000 $174,000 $238,500
-5.06% 27.99% -3.44%
4 6 6 7 2
35 10 48
-23.91% 66.67% -33.33%
140 39 251
185 49 281
32.14% 25.64% 11.95%
$282,076 $179,250 $247,250
$290,000 $137,125 $236,450
2.81% -23.50% -4.37%
$247,200 $171,000 $225,000
$270,000 9.22% $134,900 -21.11% $235,000 4.44%
1 5 2 2 4
16 5 24
6.67% 150.00% 0.00%
55 17 94
57 28 110
3.64% 64.71% 17.02%
$320,000 N/A $308,000
$322,900 $190,000 $271,500
0.91% $291,000 N/A $133,000 -11.85% $257,500
$282,000 $162,000 $237,200
92 14 119
-9.80% -39.13% -10.53%
301 62 394
374 69 499
24.25% 11.29% 26.65%
$332,500 $322,000 $328,000
$321,500 $215,500 $315,000
-3.31% -33.07% -3.96%
$295,000 $241,150 $286,250
$302,750 2.63% $195,000 -19.14% $290,000 1.31%
4 0 5 5 2
45 1 48
12.50% -80.00% -7.69%
148 26 197
165 16 200
11.49% -38.46% 1.52%
$243,000 $140,000 $237,250
$225,000 -7.41% N/A -100.00% $224,400 -5.42%
$227,668 $142,425 $210,000
$227,100 -0.25% $128,000 -10.13% $221,750 5.60%
2 3 4 3 2
37 8 50
60.87% 100.00% 56.25%
116 22 161
164 37 233
41.38% 68.18% 44.72%
$207,900 $224,000 $187,500
$169,000 $184,435 $167,500
-18.71% -17.66% -10.67%
$180,000 $147,500 $179,900
$175,000 $153,900 $175,000
-2.78% 4.34% -2.72%
17 2 24
30.77% -50.00% 9.09%
44 15 77
71 14 108
61.36% -6.67% 40.26%
$183,600 $127,000 $166,950
$157,900 -14.00% N/A -100.00% $156,950 -5.99%
$151,250 $130,000 $154,500
$160,000 $127,950 $165,000
5.79% -1.58% 6.80%
-7.92% 3,052 6.02% 880 -5.65% 4,837
3,650 1,014 5,739
19.59% 15.23% 18.65%
$228,500 $169,450 $210,000
$234,000 $160,000 $209,900
$210,000 $155,000 $190,000
$215,000 $150,000 $192,500
2.38% -3.23% 1.32%
NEWINGTON 1 Family Condo All Sales
4 1 1 2 5 7
PLAINVILLE 1 Family Condo All Sales
1 6 4 2 6
ROCKY HILL 1 Family Condo All Sales
1 7 1 3 3 3
SIMSBURY 1 Family Condo All Sales
3 4 7 4 4
SOUTH WINDSOR 1 Family Condo All Sales
2 9 1 4 4 4
SOUTHINGTON 1 Family Condo All Sales
SUFFIELD 1 Family Condo All Sales
-3.09% 21.80% -7.88%
WEST HARTFORD 1 Family Condo All Sales
1 02 2 3 1 33
WETHERSFIELD 1 Family Condo All Sales
WINDSOR 1 Family Condo All Sales
WINDSOR LOCKS 1 Family Condo All Sales
1 3 4 2 2
HARTFORD COUNTY 1 Family Condo All Sales
9 09 837 2 16 229 1 ,345 1,269
2.41% -5.58% -0.05%
AUGUST 2016 | THE COMMERCIAL RECORD | 35
TRENDLINES
LITCHFIELD COUNTY SALES REPORT
NUMBER OF SALES JUN 2015
JUN %CHG 2015 2016 15-16 YTD
2016 YTD
MEDIAN PRICE %CHG 15-16
JUN 2015
JUN %CHG 2015 2016 15-16 YTD
2016 %CHG YTD 15-16
BARKHAMSTED 1 Family Condo All Sales
8 0 8
1 0 1
-87.50% N/A -87.50%
21 0 25
19 0 22
-9.52% N/A -12.00%
$230,000 N/A -100.00% $222,500 N/A N/A N/A N/A $230,000 -100.00% $222,500
$257,500 15.73% N/A N/A $257,750 15.84%
2 0 2
-60.00% N/A -60.00%
14 0 16
13 0 18
-7.14% N/A 12.50%
$327,500 N/A -100.00% $283,500 N/A N/A N/A N/A $327,500 -100.00% $283,500
$223,000 -21.34% N/A N/A $214,875 -24.21%
1 0 1
3 0 4
200.00% N/A 300.00%
9 0 11
11 0 17
22.22% N/A 54.55%
2 0 3
0 -100.00% 0 N/A 1 -66.67%
5 0 8
7 0 10
40.00% N/A 25.00%
1 0 1
-50.00% N/A -50.00%
6 0 8
8 0 8
33.33% N/A 0.00%
N/A N/A N/A
0 0 4
2 0 2
N/A N/A -50.00%
2 0 7
8 0 12
300.00% N/A 71.43%
N/A N/A $14,250
1 0 0 1 6
4 1 5
-60.00% N/A -68.75%
26 0 38
20 1 26
-23.08% N/A -31.58%
4 0 1 2
6 0 7
50.00% N/A -41.67%
28 0 45
35 1 47
25.00% N/A 4.44%
4 5 9
3 1 4
-25.00% -80.00% -55.56%
16 6 24
12 4 26
-25.00% -33.33% 8.33%
BETHLEHEM 1 Family Condo All Sales
5 0 5
BRIDGEWATER 1 Family Condo All Sales
N/A N/A N/A
$310,000 N/A $274,500
N/A $390,000 N/A N/A N/A $390,000
$330,000 -15.38% N/A N/A $330,000 -15.38%
N/A N/A N/A $215,000 N/A N/A N/A N/A $215,000 -100.00% $187,000
$230,000 6.98% N/A N/A $214,500 14.71%
CANAAN 1 Family Condo All Sales
COLEBROOK 1 Family Condo All Sales
2 0 2
N/A N/A N/A
N/A $162,000 N/A N/A N/A $165,000
$212,800 31.36% N/A N/A $212,800 28.97%
CORNWALL 1 Family Condo All Sales
N/A N/A N/A N/A N/A -100.00%
N/A N/A $16,000
$375,000 N/A N/A N/A $427,500 2571.88%
$245,000 N/A $237,500
$312,500 27.55% $295,000 N/A N/A N/A $300,000 26.32% $282,500
$302,500 2.54% N/A N/A $282,500 0.00%
$505,000 N/A $207,500
$269,500 -46.63% $239,500 N/A N/A N/A $169,000 -18.55% $189,000
$255,000 6.47% N/A N/A $247,000 30.69%
$259,000 $165,000 $179,000
$275,000 6.18% N/A -100.00% $232,500 29.89%
$346,250 $174,950 $297,250
$325,564 N/A $237,000
$357,000 9.66% $325,532 N/A N/A $375,000 $382,000 61.18% $290,000
$285,000 -12.45% $300,000 -20.00% $300,000 3.45%
$252,000 N/A $252,000
$267,500 20.50% N/A N/A $194,000 -12.61%
GOSHEN 1 Family Condo All Sales
HARWINTON 1 Family Condo All Sales
KENT 1 Family Condo All Sales
$317,750 $165,000 $280,000
8.97% 6.03% 6.16%
LITCHFIELD 1 Family Condo All Sales
7 0 1 2
9 1 15
28.57% N/A 25.00%
26 3 41
33 3 51
26.92% 0.00% 24.39%
1 0 2
4 0 4
300.00% N/A 100.00%
13 0 17
6 0 9
-53.85% N/A -47.06%
9 0 11
0.00% N/A 10.00%
27 2 39
20 5 36
-25.93% 150.00% -7.69%
$250,000 N/A $266,500
$325,000 30.00% $239,900 N/A N/A N/A $325,000 21.95% $187,900
$225,000 $113,500 $198,500
-6.21% N/A 5.64%
102 36 170
132 26 197
29.41% -27.78% 15.88%
$337,000 $133,000 $259,000
$290,000 -13.95% N/A -100.00% $283,450 9.44%
$282,000 $125,000 $240,000
-2.76% 5.49% 2.13%
3 0 6
9 0 13
200.00% N/A 116.67%
MORRIS 1 Family Condo All Sales
N/A N/A N/A
N/A $222,000 N/A N/A N/A $222,000
NEW HARTFORD 1 Family Condo All Sales
9 0 1 0
NEW MILFORD 1 Family Condo All Sales
2 4 7 3 9
39 2 48
0 0 0
2 0 2
62.50% -71.43% 23.08%
$290,000 $118,500 $235,000
NORFOLK 1 Family Condo All Sales
N/A N/A N/A
36 | THE COMMERCIAL RECORD | AUGUST 2016
N/A N/A N/A
N/A N/A N/A
N/A $340,000 N/A N/A N/A $224,500
$196,500 -42.21% N/A N/A $196,500 -12.47%
Real estate & credit transactions updated every Thursday
www.commercialrecord.com • subscribers only
NUMBER OF SALES JUN 2015
JUN %CHG 2015 2016 15-16 YTD
2016 YTD
MEDIAN PRICE %CHG 15-16
JUN 2015
JUN %CHG 2015 2016 15-16 YTD
2016 %CHG YTD 15-16
NORTH CANAAN 1 Family
1
3
Condo
0
0
2
3
All Sales
200.00%
9
17
0
0
50.00%
17
28
N/A
88.89% N/A 64.71%
N/A N/A N/A
$111,800 N/A $111,800
N/A $132,812 N/A
N/A
N/A $132,812
$158,800 N/A
19.57% N/A
$154,400
16.25%
$167,250
3.56%
PLYMOUTH 1 Family
1 7
7
-58.82%
42
38
-9.52%
Condo
1
0 -100.00%
1
5
400.00%
All Sales
$162,000 N/A
$176,000 N/A
8.64% N/A
$161,500 N/A
$97,900
N/A
2 0
7
-65.00%
60
57
-5.00%
$155,000
$176,000
13.55%
$155,000
$157,500
1.61%
1 Family
5
6
20.00%
13
18
38.46%
$675,000
$445,000
-34.07%
$350,000
$472,500
35.00%
Condo
0
0
0
0
5
6
20.00%
22
26
33.33%
20 1
ROXBURY
All Sales
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
18.18%
$675,000
$445,000
-34.07%
$287,500
$419,500
45.91%
19
-5.00%
$732,500
$225,000
-69.28%
$525,000
$287,500 -45.24%
0
-100.00%
SALISBURY 1 Family
6
8
Condo
0
0
7
8
14.29%
30
22
-26.67%
$675,000
1 Family
3
2
-33.33%
24
17
-29.17%
$221,250
Condo
0
0
0
1
3
4
33.33%
35
28
All Sales
N/A
N/A
N/A $225,000
N/A
N/A
N/A
N/A
-66.67%
$413,750
$316,250 -23.56%
N/A -100.00%
$500,000
$305,000 -39.00%
SHARON
All Sales
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
-20.00%
$221,250
$167,500
-24.29%
$300,000
$220,500 -26.50%
$205,000
$170,000
-17.07%
$215,000
$185,000 -13.95%
THOMASTON 1 Family
5
5
0.00%
23
21
-8.70%
Condo
2
1
-50.00%
5
7
40.00%
9
7
-22.22%
35
33
-5.71%
$165,000
$170,000
All Sales
N/A
N/A
N/A $109,000
$74,900 -31.28%
3.03%
$197,700
$175,000 -11.48%
TORRINGTON 1 Family
3 1
49
58.06%
125
189
51.20%
$119,000
$126,000
5.88%
$118,000
$127,500
8.05%
Condo
7
8
14.29%
27
36
33.33%
$75,000
$70,000
-6.67%
$80,000
$74,950
-6.31%
4 7
73
55.32%
175
283
61.71%
$105,000
$112,000
6.67%
$112,000
$119,000
6.25%
83.33%
All Sales
WARREN 1 Family
1
0 -100.00%
6
11
Condo
0
0
0
0
2
1
-50.00%
10
16
All Sales
N/A
N/A 60.00%
N/A
N/A
N/A $270,000
N/A
N/A
N/A
N/A
N/A
N/A $255,000
N/A
$560,000 107.41% N/A $269,000
N/A 5.49%
WASHINGTON 1 Family
4
7
75.00%
24
26
8.33%
Condo
2
0 -100.00%
4
0
-100.00% -19.05%
$370,000
$529,500
43.11%
$484,500
$414,500 -14.45%
$210,000
$219,900
4.71%
$182,500
$188,700
All Sales
7
12
71.43%
42
34
-43.24%
112
103
-8.04%
10
13
30.00%
$411,000 N/A
$900,000 118.98% N/A
$691,250
N/A $262,000
$470,000 -32.01% N/A -100.00%
WATERTOWN 1 Family
3 7
21
Condo
0
4
5 1
30
-41.18%
156
143
-8.33%
$199,900
$207,000
3.55%
$176,750
$185,000
4.67%
-7.69%
42
50
19.05%
$122,500
$165,250
34.90%
$123,250
$141,200
14.56%
4
7
75.00%
$47,450
$69,000
45.42%
57
79
38.60%
$135,000
$156,000
15.56%
$120,500
$131,000
8.71%
All Sales
N/A
N/A
$117,825
N/A $161,250
3.40%
$140,000 -13.18%
WINCHESTER 1 Family
1 3
12
Condo
0
1
1 7
20
All Sales
N/A 17.65%
N/A
N/A
N/A
WOODBURY 1 Family
7
9
28.57%
35
39
11.43%
$260,000
$375,000
44.23%
$260,000
$347,500
33.65%
Condo
3
7
133.33%
20
16
-20.00%
$88,250
$159,000
80.17%
$110,000
$130,000
18.18%
1 4
20
42.86%
70
73
4.29%
$241,500
$316,250
30.95%
$235,750
$290,000
23.01%
All Sales
LITCHFIELD COUNTY 1 Family
2 07
214
3.38%
773
881
13.97%
$230,000
$232,450
1.07%
$220,000
$210,000
-4.55%
Condo
2 7
26
-3.70%
119
125
5.04%
$141,000
$94,500
-32.98%
$109,000
$102,000
-6.42%
3 07
298
-2.93% 1,164
1,314
12.89%
$195,000
$194,500
-0.26%
$189,500
$182,000
-3.96%
All Sales
AUGUST 2016 | THE COMMERCIAL RECORD | 37
TRENDLINES
MIDDLESEX COUNTY SALES REPORT
NUMBER OF SALES JUN 2015
JUN %CHG 2015 2016 15-16 YTD
2016 YTD
MEDIAN PRICE %CHG 15-16
JUN 2015
JUN %CHG 2015 2016 15-16 YTD
2016 %CHG YTD 15-16
CHESTER 1 Family Condo All Sales
6 0 7
6 0 6
0.00% N/A -14.29%
24 1 28
24 0 26
0.00% -100.00% -7.14%
$471,250 N/A $417,500
$352,450 -25.21% $335,000 N/A N/A N/A $352,450 -15.58% $323,125
$271,750 -18.88% N/A N/A $265,250 -17.91%
2 0 2 2 3
13 5 25
-35.00% 150.00% 8.70%
74 8 93
83 15 120
12.16% 87.50% 29.03%
$280,000 N/A $295,000
$269,000 $167,500 $265,000
$269,817 $155,000 $252,400
8.93% 11.31% 4.30%
9 13 26
-43.75% -27.78% -27.78%
44 56 120
54 64 135
22.73% 14.29% 12.50%
$260,000 $127,950 $183,500
$236,000 $144,900 $177,750
$240,000 $131,950 $179,000
$250,500 $133,450 $167,000
4.38% 1.14% -6.70%
4 33.33% 0 -100.00% 4 -20.00%
16 3 22
30 4 38
87.50% 33.33% 72.73%
$239,000 N/A $239,000
$369,000 54.39% $245,000 N/A N/A $144,950 $369,000 54.39% $245,000
$252,250 $132,300 $241,515
2.96% -8.73% -1.42%
$317,500 $99,900 $273,000
-5.37% N/A -9.59%
CLINTON 1 Family Condo All Sales
-3.93% $247,700 N/A $139,250 -10.17% $242,000
CROMWELL 1 Family Condo All Sales
1 6 1 8 3 6
-9.23% 13.25% -3.13%
DEEP RIVER 1 Family Condo All Sales
3 1 5
DURHAM 1 Family Condo All Sales
6 0 7
11 0 12
83.33% N/A 71.43%
14 2 22
37 3 43
164.29% 50.00% 95.45%
$325,500 N/A $326,000
$351,000 N/A $340,500
7.83% $335,500 N/A N/A 4.45% $301,950
18 0 20
125.00% N/A 81.82%
40 4 56
47 2 59
17.50% -50.00% 5.36%
$202,575 N/A $200,250
$277,000 36.74% $228,503 N/A N/A $136,000 $277,000 38.33% $206,700
$249,900 9.36% N/A - 100.00% $230,000 11.27%
1 4 5 2 4
20 1 25
42.86% -80.00% 4.17%
61 13 83
72 4 94
18.03% -69.23% 13.25%
$235,000 $132,000 $231,200
$274,500 16.81% N/A -100.00% $282,000 21.97%
$245,000 $129,000 $230,000
$252,000 $232,500 $255,000
5 4 1 4
8 1 11
60.00% -75.00% -21.43%
23 6 42
39 11 58
69.57% 83.33% 38.10%
$386,000 $224,250 $254,000
$324,000 -16.06% N/A -100.00% $275,500 8.46%
$400,000 $224,250 $353,750
$313,000 -21.75% $215,000 -4.12% $277,750 -21.48%
1 2 0 1 3
10 0 11
-16.67% N/A -15.38%
36 0 51
61 0 68
69.44% N/A 33.33%
$280,500 N/A $275,000
$339,000 20.86% $273,000 N/A N/A N/A $333,000 21.09% $266,000
$255,000 -6.59% N/A N/A $247,500 -6.95%
10 0 11
42.86% N/A 57.14%
30 0 35
45 0 48
50.00% N/A 37.14%
$350,000 N/A $350,000
$344,023 N/A $348,000
$310,000 -10.14% N/A N/A $315,000 -10.00%
$269,900 N/A $287,500
$266,250 -1.35% $235,000 N/A N/A N/A $220,000 -23.48% $225,000
$263,000 $198,450 $230,000
EAST HADDAM 1 Family Condo All Sales
8 0 1 1
EAST HAMPTON 1 Family Condo All Sales
2.86% 80.23% 10.87%
ESSEX 1 Family Condo All Sales
HADDAM 1 Family Condo All Sales
KILLINGWORTH 1 Family Condo All Sales
7 0 7
-1.71% $345,000 N/A N/A -0.57% $350,000
MIDDLEFIELD 1 Family Condo All Sales
7 1 9
4 1 9
-42.86% 0.00% 0.00%
19 2 26
15 4 27
-21.05% 100.00% 3.85%
11.91% N/A 2.22%
42 12 64
13.51% -20.00% 16.36%
134 45 201
146 64 253
8.96% 42.22% 25.87%
$190,000 $137,500 $167,000
$200,000 $129,950 $182,500
5.26% -5.49% 9.28%
$189,374 $118,000 $167,450
$208,500 10.10% $105,000 -11.02% $170,000 1.52%
20 1 28
-13.04% -75.00% -12.50%
82 7 105
55 9 94
-32.93% 28.57% -10.48%
$320,000 $335,000 $322,500
$370,000 15.63% N/A -100.00% $370,000 14.73%
$352,500 $345,000 $330,000
$350,000 $350,000 $335,400
-0.71% 1.45% 1.64%
12 1 17
0.00% -66.67% -5.56%
41 9 60
47 9 76
14.63% 0.00% 26.67%
$207,500 $199,900 $207,500
$252,950 21.90% N/A -100.00% $220,000 6.02%
$202,000 $162,500 $197,000
$228,900 $195,000 $214,100
13.32% 20.00% 8.68%
MIDDLETOWN 1 Family Condo All Sales
3 7 1 5 5 5
OLD SAYBROOK 1 Family Condo All Sales
2 3 4 3 2
PORTLAND 1 Family Condo All Sales
1 2 3 1 8
38 | THE COMMERCIAL RECORD | AUGUST 2016
Real estate & credit transactions updated every Thursday
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NUMBER OF SALES JUN 2015
JUN %CHG 2015 2016 15-16 YTD
MEDIAN PRICE
2016 YTD
%CHG 15-16
JUN 2015
JUN %CHG 2015 2016 15-16 YTD
2016 %CHG YTD 15-16
N/A N/A $112,000
$600,000 N/A $285,000 N/A N/A N/A $15,000 -86.61% $5,000
$297,500 4.39% $382,000 N/A $260,000 5100.00%
$257,850 $140,000 $234,500
$291,500 $144,950 $273,500
$260,000 $135,175 $230,000
WESTBROOK 1 Family Condo All Sales
2 0 5
3 1 7
50.00% N/A 40.00%
3 0 13
26 3 47
641 156 957
781 192 1,186
766.67% N/A 261.54%
MIDDLESEX COUNTY 1 Family Condo All Sales
1 78 5 3 2 66
190 36 276
6.74% -32.08% 3.76%
21.84% 23.08% 23.93%
13.05% 3.54% 16.63%
$250,000 $136,500 $230,000
4.00% -0.97% 0.00%
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AUGUST 2016 | THE COMMERCIAL RECORD | 39
TRENDLINES
NEW HAVEN COUNTY SALES REPORT
NUMBER OF SALES JUN 2015
JUN %CHG 2015 2016 15-16 YTD
2016 YTD
MEDIAN PRICE %CHG 15-16
JUN 2015
JUN %CHG 2015 2016 15-16 YTD
2016 %CHG YTD 15-16
ANSONIA 1 Family Condo All Sales
1 4 0 2 8
20 0 25
42.86% N/A -10.71%
54 0 91
76 2 112
40.74% N/A 23.08%
$134,325 N/A $117,325
$184,500 37.35% $164,250 N/A N/A N/A $190,000 61.94% $145,000
$175,000 6.54% N/A N/A $163,750 12.93%
6 3 1 0
7 3 14
16.67% 0.00% 40.00%
21 8 37
25 8 42
19.05% 0.00% 13.51%
$280,000 $124,000 $280,000
$284,900 1.75% $472,330 280.91% $292,450 4.45%
$221,000 -3.49% $377,247 101.20% $248,750 8.62%
3 0 5
5 0 5
66.67% N/A 0.00%
14 0 16
21 0 22
50.00% N/A 37.50%
$310,000 N/A $350,000
$350,000 12.90% $326,000 N/A N/A N/A $350,000 0.00% $340,000
$322,500 -1.07% N/A N/A $318,750 -6.25%
BEACON FALLS 1 Family Condo All Sales
$229,000 $187,500 $229,000
BETHANY 1 Family Condo All Sales
BRANFORD 1 Family Condo All Sales
2 5 3 1 6 6
28 9 41
12.00% -70.97% -37.88%
90 85 214
110 81 218
22.22% -4.71% 1.87%
$287,824 $170,000 $223,500
$284,375 $170,000 $254,000
-1.20% 0.00% 13.65%
$319,000 $155,000 $252,500
$298,750 -6.35% $152,000 -1.94% $219,000 -13.27%
3 6 6 4 8
49 6 66
36.11% 0.00% 37.50%
133 30 181
132 33 193
-0.75% 10.00% 6.63%
$367,500 $132,450 $340,000
$350,000 $159,500 $311,000
-4.76% 20.42% -8.53%
$325,000 $148,750 $290,000
$305,000 $168,000 $280,000
-6.15% 12.94% -3.45%
1 0 5 1 9
8 7 18
-20.00% 40.00% -5.26%
39 20 71
39 22 92
0.00% 10.00% 29.58%
$180,000 $136,500 $170,000
$226,196 $148,970 $184,950
25.66% 9.14% 8.79%
$154,000 $127,467 $131,000
$179,900 $130,750 $160,000
16.82% 2.58% 22.14%
31 12 45
-16.22% -33.33% -25.00%
122 41 182
136 44 202
11.48% 7.32% 10.99%
$170,000 $105,000 $156,250
$169,000 $167,750 $170,000
-0.59% 59.76% 8.80%
$171,500 $119,700 $167,500
$171,000 $124,300 $170,000
-0.29% 3.84% 1.49%
3 3 3 3 8
36 5 47
9.09% 66.67% 23.68%
104 16 139
127 17 166
22.12% 6.25% 19.42%
$354,000 $179,900 $348,500
$359,750 $337,000 $332,000
1.62% 87.33% -4.73%
$352,000 $233,500 $345,000
$330,000 -6.25% $117,000 -49.89% $312,250 -9.49%
6 9 9 8 1
65 19 93
-5.80% 111.11% 14.81%
209 50 290
238 55 337
13.88% 10.00% 16.21%
$228,000 $122,000 $224,000
$195,700 $120,000 $185,000
-14.17% -1.64% -17.41%
$200,000 $122,000 $180,000
$188,500 $112,000 $180,000
-5.75% -8.20% 0.00%
3 7 5 4 9
22 -40.54% 0 -100.00% 26 -46.94%
109 10 133
122 11 150
11.93% 10.00% 12.78%
$437,500 $409,750 -6.34% $340,000 -100.00% $437,500 $388,800 -11.13%
$401,000 $264,000 $400,000
$408,250 $245,000 $376,500
1.81% -7.20% -5.88%
CHESHIRE 1 Family Condo All Sales
DERBY 1 Family Condo All Sales
EAST HAVEN 1 Family Condo All Sales
3 7 1 8 6 0
GUILFORD 1 Family Condo All Sales
HAMDEN 1 Family Condo All Sales
MADISON 1 Family Condo All Sales
MERIDEN 1 Family Condo All Sales
5 7 1 7 8 6
70 14 103
22.81% -17.65% 19.77%
183 49 301
266 77 430
45.36% 57.14% 42.86%
$155,000 $95,000 $141,250
$166,000 $76,500 $160,000
7.10% -19.47% 13.27%
$150,000 $95,500 $132,000
$145,000 -3.33% $79,900 -16.34% $129,900 -1.59%
9 3 1 4
9 2 14
0.00% -33.33% 0.00%
31 7 54
34 8 62
9.68% 14.29% 14.81%
$224,500 $344,995 $254,750
$248,000 10.47% N/A -100.00% $246,500 -3.24%
$299,000 $330,000 $301,500
$282,500 $450,000 $287,500
-5.52% 36.36% -4.64%
6 4 1 9 9 1
45 14 73
-29.69% -26.32% -19.78%
205 77 323
254 79 393
23.90% 2.60% 21.67%
$252,250 $165,000 $239,900
$262,650 $175,750 $250,000
4.12% 6.52% 4.21%
$246,500 $179,000 $235,000
$273,750 $167,000 $255,000
11.05% -6.70% 8.51%
33 7 42
-8.33% -12.50% -19.23%
134 28 192
146 25 205
8.96% -10.71% 6.77%
$153,250 $56,500 $143,000
$179,900 $63,300 $165,000
17.39% 12.04% 15.38%
$150,500 $69,750 $139,950
$165,000 $63,300 $148,500
9.63% -9.25% 6.11%
MIDDLEBURY 1 Family Condo All Sales
MILFORD 1 Family Condo All Sales
NAUGATUCK 1 Family Condo All Sales
3 6 8 5 2
40 | THE COMMERCIAL RECORD | AUGUST 2016
Real estate & credit transactions updated every Thursday
www.commercialrecord.com • subscribers only
NUMBER OF SALES JUN 2015
JUN %CHG 2015 2016 15-16 YTD
MEDIAN PRICE
2016 YTD
%CHG 15-16
JUN 2015
JUN %CHG 2015 2016 15-16 YTD
2016 %CHG YTD 15-16
NEW HAVEN 1 Family Condo All Sales
3 4 1 7 8 8
49 14 113
44.12% -17.65% 28.41%
144 74 399
173 62 476
20.14% -16.22% 19.30%
$179,000 $106,000 $156,250
$265,000 $145,000 $209,000
48.04% 36.79% 33.76%
$165,000 $109,256 $150,000
$175,000 $122,000 $157,500
6.06% 11.66% 5.00%
13 -18.75% 0 -100.00% 14 -44.00%
40 12 58
55 14 75
37.50% 16.67% 29.31%
$267,500 $154,900 $230,000
$255,000 -4.67% N/A -100.00% $278,500 21.09%
$270,000 $161,450 $238,150
$255,000 $155,000 $247,500
-5.56% -4.00% 3.93%
NORTH BRANFORD 1 Family Condo All Sales
1 6 7 2 5
NORTH HAVEN 1 Family Condo All Sales
3 0 1 3 3
20 2 26
-33.33% 100.00% -21.21%
103 7 123
115 13 157
11.65% 85.71% 27.64%
$239,000 N/A $239,000
$268,500 12.34% $255,000 N/A N/A $239,000 $268,500 12.34% $255,900
$258,000 $225,000 $250,000
1.18% -5.86% -2.31%
1 4 1 1 6
21 2 24
50.00% 100.00% 50.00%
51 3 65
73 3 91
43.14% 0.00% 40.00%
$353,800 N/A $361,250
$330,000 N/A $331,250
$330,000 $580,500 $340,000
1.54% 34.10% -3.95%
1 4 4 2 4
14 4 20
0.00% 0.00% -16.67%
36 12 72
55 14 89
52.78% 16.67% 23.61%
$362,500 $360,498 $360,498
$322,500 $407,450 $375,000
-11.03% 13.02% 4.02%
$320,000 $370,000 $344,900
6.68% 0.54% -4.33%
6 7 18
-57.14% N/A 5.88%
50 2 64
42 21 73
-16.00% 950.00% 14.06%
$251,750 N/A $238,500
$225,950 $363,856 $292,750
-10.25% $251,000 N/A N/A 22.75% $262,000
$262,500 $369,154 $304,000
4.58% N/A 16.03%
66 12 94
78 19 117
18.18% 58.33% 24.47%
$228,000 $57,900 $220,000
$225,950 -0.90% N/A -100.00% $225,950 2.70%
$221,250 $96,250 $208,151
$211,000 -4.63% $92,000 -4.42% $180,000 -13.52%
ORANGE 1 Family Condo All Sales
-6.73% $325,000 N/A $432,887 -8.30% $354,000
OXFORD 1 Family Condo All Sales
$299,950 $367,998 $360,498
PROSPECT 1 Family Condo All Sales
1 4 0 1 7
SEYMOUR 1 Family Condo All Sales
2 0 3 2 3
24 20.00% 0 -100.00% 26 13.04%
SOUTHBURY 1 Family Condo All Sales
2 3 2 7 5 5
27 23 52
17.39% -14.81% -5.45%
62 86 166
93 109 221
50.00% 26.74% 33.13%
$337,000 $130,000 $193,500
$355,000 $85,500 $277,000
5.34% -34.23% 43.15%
$328,000 $124,750 $180,950
$325,000 $122,500 $197,500
-0.91% -1.80% 9.15%
47 17 78
67.86% 54.55% 73.33%
138 52 224
177 57 279
28.26% 9.62% 24.55%
$241,000 $163,000 $223,000
$258,000 $150,000 $237,500
7.05% -7.98% 6.50%
$238,500 $161,500 $221,750
$235,000 $160,000 $229,900
-1.47% -0.93% 3.68%
69 21 131
23.21% 40.00% 50.57%
258 108 510
322 95 595
24.81% -12.04% 16.67%
$100,350 $60,000 $85,000
$117,500 $60,000 $105,000
17.09% 0.00% 23.53%
$99,000 $44,000 $76,250
$99,950 $55,000 $86,000
0.96% 25.00% 12.79%
31 11 51
19.23% 175.00% 24.39%
150 33 234
182 41 288
21.33% 24.24% 23.08%
$160,500 $131,200 $158,025
$157,000 $90,000 $147,000
-2.18% -31.40% -6.98%
$150,000 $78,000 $147,568
$150,250 $90,000 $152,000
0.17% 15.38% 3.00%
16 3 24
-36.00% -40.00% -20.00%
74 9 90
71 6 95
-4.05% -33.33% 5.56%
$185,000 $177,000 $185,000
$232,750 $250,000 $232,750
25.81% 41.24% 25.81%
$186,250 $264,900 $185,000
$200,000 7.38% $165,000 -37.71% $200,000 8.11%
11 0 11
-52.17% N/A -52.17%
49 0 55
51 0 56
$400,000 N/A $400,000
$339,500 -15.13% $376,000 N/A N/A N/A $339,500 -15.13% $376,000
$339,500 -9.71% N/A N/A $335,250 -10.84%
2.24% 2,669 -9.01% 831 3.99% 4,378
3,213 916 5,236
$225,000 $132,250 $200,000
$231,750 $142,250 $209,250
$210,000 $127,475 $185,000
WALLINGFORD 1 Family Condo All Sales
2 8 1 1 4 5
WATERBURY 1 Family Condo All Sales
5 6 1 5 8 7
WEST HAVEN 1 Family Condo All Sales
2 6 4 4 1
WOLCOTT 1 Family Condo All Sales
2 5 5 3 0
WOODBRIDGE 1 Family Condo All Sales
2 3 0 2 3
4.08% N/A 1.82%
NEW HAVEN COUNTY 1 Family Condo All Sales
7 59 776 2 22 202 1 ,154 1,200
20.38% 10.23% 19.60%
3.00% 7.56% 4.63%
$210,000 $124,900 $180,000
0.00% 2.06% 2.78%
AUGUST 2016 | THE COMMERCIAL RECORD | 41
TRENDLINES
NEW LONDON COUNTY SALES REPORT
NUMBER OF SALES JUN 2015
JUN %CHG 2015 2016 15-16 YTD
MEDIAN PRICE
2016 YTD
%CHG 15-16
JUN 2015
JUN %CHG 2015 2016 15-16 YTD
2016 %CHG YTD 15-16
16.67% N/A 13.33%
N/A N/A $158,000
$221,250 N/A $173,750 N/A N/A N/A $180,000 13.92% $200,000
$169,389 -2.51% N/A N/A $175,000 -12.50%
BOZRAH 1 Family Condo All Sales
2 0 3
4 0 5
100.00% N/A 66.67%
12 0 15
14 0 17
23 2 26
35.29% -50.00% 8.33%
67 11 88
99 8 118
47.76% -27.27% 34.09%
$225,000 $158,000 $215,000
$225,000 0.00% N/A -100.00% $221,250 2.91%
$210,000 $155,000 $206,250
$235,000 $211,250 $228,800
11.90% 36.29% 10.93%
21 7 34
0.00% -50.00% -38.18%
79 32 155
94 25 149
18.99% -21.88% -3.87%
$310,000 $165,500 $208,000
$297,000 $157,000 $250,050
$289,000 $185,000 $235,000
$270,000 $175,000 $260,000
-6.57% -5.41% 10.64%
3 0 4
200.00% N/A 300.00%
7 0 12
10 0 13
42.86% N/A 8.33%
9 0 1 1
7 0 12
-22.22% N/A 9.09%
23 4 37
28 6 55
21.74% 50.00% 48.65%
3 2 1 1 4 7
22 9 36
-31.25% -18.18% -23.40%
96 42 159
141 22 202
46.88% -47.62% 27.04%
1 1 0 1 3
9 0 9
-18.18% N/A -30.77%
34 0 45
34 0 42
2 8 0 3 4
27 3 34
-3.57% N/A 0.00%
88 5 103
108 7 127
4 0 4
3 0 4
-25.00% N/A 0.00%
19 0 28
0 0 4
7 0 11
N/A N/A 175.00%
16 1 22 19 4 37
COLCHESTER 1 Family Condo All Sales
1 7 4 2 4
EAST LYME 1 Family Condo All Sales
2 1 1 4 5 5
-4.19% -5.14% 20.22%
FRANKLIN 1 Family Condo All Sales
1 0 1
N/A N/A N/A
$165,001 N/A $160,001
N/A $214,000 N/A N/A N/A $190,000
$190,001 -11.21% N/A N/A $200,000 5.26%
GRISWOLD 1 Family Condo All Sales
$139,000 N/A $157,000
$145,000 4.32% $139,000 N/A N/A $83,450 $82,750 -47.29% $130,000
$109,500 -21.22% $99,950 19.77% $99,900 -23.15%
$289,000 $170,000 $219,900
$217,500 $84,410 $170,050
$224,900 $124,500 $194,000
0.00% N/A -6.67%
$247,500 N/A $262,000
$210,000 -15.15% $192,500 N/A N/A N/A $210,000 -19.85% $182,000
$185,450 -3.66% N/A N/A $163,000 -10.44%
22.73% 40.00% 23.30%
$219,950 N/A $219,950
$185,000 $46,000 $177,450
$199,500 1.27% $46,000 -46.20% $189,900 -1.09%
19 0 31
0.00% N/A 10.71%
$177,816 N/A $177,816
$205,000 15.29% $170,000 N/A N/A N/A $252,500 42.00% $167,450
$172,900 1.71% N/A N/A $169,900 1.46%
9 0 16
17 0 26
88.89% N/A 62.50%
N/A N/A $365,000
$455,000 N/A $567,500 N/A N/A N/A $455,000 24.66% $550,000
$440,000 -22.47% N/A N/A $415,000 -24.55%
0.00% 0.00% 4.76%
62 4 81
84 2 108
35.48% -50.00% 33.33%
$198,500 N/A $198,000
$213,000 N/A $189,000
$179,500 -0.28% N/A - 100.00% $172,150 -1.63%
-40.63% -42.86% -21.28%
86 18 154
68 19 151
-20.93% 5.56% -1.95%
$160,000 $63,359 $147,000
$189,000 $56,000 $134,000
24.14% N/A 22.50%
$275,000 N/A $245,500
$248,750 N/A $248,750
15.96% 50.00% 13.84%
$119,250 $108,950 $110,000
$89,950 $164,500 $99,900
GROTON 1 Family Condo All Sales
-24.74% -50.35% -22.67%
$245,250 $114,000 $199,000
-8.30% 9.21% -2.51%
LEBANON 1 Family Condo All Sales
LEDYARD 1 Family Condo All Sales
-15.89% $197,000 N/A $85,500 -19.32% $192,000
LISBON 1 Family Condo All Sales
LYME 1 Family Condo All Sales
MONTVILLE 1 Family Condo All Sales
1 6 1 2 1
7.30% $180,000 N/A $47,001 -4.55% $175,000
NEW LONDON 1 Family Condo All Sales
3 2 7 4 7
18.13% -11.61% -8.84%
$151,250 $69,000 $141,250
$145,000 -4.13% $132,000 91.30% $125,500 -11.15%
NORTH STONINGTON 1 Family Condo All Sales
3 0 4
12 0 14
300.00% N/A 250.00%
29 0 40
36 0 49
2 4 6 4 5
14 5 25
-41.67% -16.67% -44.44%
94 18 159
109 27 181
-9.55% $258,800 N/A N/A 1.32% $242,450
$241,500 -6.68% N/A N/A $240,000 -1.01%
NORWICH 1 Family Condo All Sales
42 | THE COMMERCIAL RECORD | AUGUST 2016
-24.57% 50.99% -9.18%
$98,250 $120,704 $98,500
$120,000 22.14% $104,900 -13.09% $106,000 7.61%
Real estate & credit transactions updated every Thursday
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NUMBER OF SALES JUN 2015
JUN %CHG 2015 2016 15-16 YTD
2016 YTD
MEDIAN PRICE %CHG 15-16
JUN 2015
$402,500
JUN %CHG 2015 2016 15-16 YTD
2016 %CHG YTD 15-16
OLD LYME 1 Family
2 2
14
Condo
0
2
2 8
20
All Sales
-36.36%
59
42
-28.81%
3
3
0.00%
-28.57%
85
57
-32.94%
$396,250
$352,250
-11.10%
$402,500
$350,000 -13.04%
-45.45%
31
27
-12.90%
$187,000
$284,000
51.87%
$194,900
$220,000
0
0
N/A
N/A
$352,250 N/A
-12.48%
$425,000
N/A $410,000
$345,000 -18.82% $252,500 -38.41%
PRESTON 1 Family
1 1
6
Condo
0
0
1 5
8
-46.67%
42
37
-11.90%
$205,000
$240,450
17.29%
$200,500
$210,000
4.74%
1 Family
9
6
-33.33%
21
18
-14.29%
$269,000
$310,000
15.24%
$275,000
$277,500
0.91%
Condo
0
0
2
2
0.00%
9
9
0.00%
29
25
-13.79%
$269,000
1 Family
3
2
-33.33%
9
14
55.56%
$241,000
Condo
0
0
0
0
5
3
-40.00%
14
17
All Sales
N/A
N/A
N/A
N/A
N/A
N/A
N/A
12.88% N/A
SALEM
All Sales
N/A
N/A
N/A $255,000
N/A
N/A
N/A
N/A
-5.20%
$269,000
$173,000 -35.69%
N/A -100.00%
$202,000
$171,000 -15.35%
SPRAGUE
All Sales
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
21.43%
$241,000
$172,000
-28.63%
$211,450
$170,000 -19.60%
$367,500
44.75%
$263,500
$306,250
N/A -100.00%
$418,750
$295,000 -29.55%
STONINGTON 1 Family
2 0
16
-20.00%
86
80
-6.98%
$253,888
Condo
5
1
-80.00%
16
7
-56.25%
$190,000
3 1
20
-35.48%
125
140
12.00%
$250,000
$360,000
44.00%
$270,000
$271,750
100.00%
10
24
140.00%
$180,000
$142,950
-20.58%
$191,000
$157,500 -17.54%
0
0
All Sales
16.22% 0.65%
VOLUNTOWN 1 Family
3
6
Condo
0
0
3
9
200.00%
10
29
All Sales
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
190.00%
$180,000
$136,000
-24.44%
$191,000
$149,900 -21.52%
WATERFORD 1 Family
4 5
32
-28.89%
126
143
13.49%
$231,500
$217,500
-6.05%
$230,000
$215,000
-6.52%
Condo
9
6
-33.33%
26
23
-11.54%
$158,000
$162,500
2.85%
$120,000
$144,000
20.00%
6 0
45
-25.00%
173
188
8.67%
$230,000
$206,000
-10.43%
$205,000
$197,750
-3.54%
-14.06% 1,047
-1.43%
All Sales
NEW LONDON COUNTY 1 Family
3 13
269
Condo
5 7
40
4 64
387
All Sales
1,209
15.47%
$211,000
$220,000
4.27%
$210,000
$207,000
181
151
-16.57%
$157,000
$133,724
-14.83%
$142,500
$125,000 -12.28%
-16.59% 1,570
1,762
12.23%
$198,000
$200,000
1.01%
$190,000
$185,000
-29.82%
-2.63%
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AUGUST 2016 | THE COMMERCIAL RECORD | 43
TRENDLINES
TOLLAND COUNTY SALES REPORT
NUMBER OF SALES JUN 2015
JUN %CHG 2015 2016 15-16 YTD
MEDIAN PRICE
2016 YTD
%CHG 15-16
JUN 2015
JUN %CHG 2015 2016 15-16 YTD
2016 %CHG YTD 15-16
ANDOVER 1 Family Condo All Sales
5 0 6
2 0 3
-60.00% N/A -50.00%
15 0 20
19 0 25
26.67% N/A 25.00%
$220,000 N/A $175,800
N/A -100.00% $194,900 N/A N/A N/A $250,000 42.21% $192,000
$255,000 30.84% N/A N/A $249,000 29.69%
5 0 7
6 0 9
20.00% N/A 28.57%
23 0 28
25 0 30
8.70% N/A 7.14%
$240,000 N/A $237,000
$197,345 -17.77% $237,000 N/A N/A N/A $232,000 -2.11% $223,000
$232,000 -2.11% N/A N/A $238,500 6.95%
11 0 11
-21.43% N/A -38.89%
36 0 44
31 0 34
-13.89% N/A -22.73%
$246,900 N/A $222,000
$206,000 -16.57% $225,000 N/A N/A N/A $206,000 -7.21% $224,500
$196,000 -12.89% N/A N/A $196,000 -12.69%
14 0 18
16.67% N/A 0.00%
60 3 87
59 6 92
-1.67% 100.00% 5.75%
$158,900 N/A $167,500
$238,000 49.78% $204,575 N/A N/A $116,600 $217,000 29.55% $202,800
$198,135 -3.15% $102,550 -12.05% $199,068 -1.84%
50 9 76
48 10 81
-4.00% 11.11% 6.58%
$300,000 $191,000 $254,000
$255,450 -14.85% N/A -100.00% $272,950 7.46%
$228,700 $123,500 $229,900
40 0 48
61 2 69
52.50% N/A 43.75%
$290,000 N/A $290,000
$249,000 -14.14% $292,500 N/A N/A N/A $244,450 -15.71% $292,500
$249,000 -14.87% N/A N/A $237,000 -18.97% $208,000 $234,900 $220,000
-7.14% 30.54% 10.00%
$280,000 $364,950 $290,000
5.88% N/A 11.75% 13.74% 28.03% 3.19%
BOLTON 1 Family Condo All Sales
COLUMBIA 1 Family Condo All Sales
1 4 0 1 8
COVENTRY 1 Family Condo All Sales
1 2 0 1 8
ELLINGTON 1 Family Condo All Sales
2 3 4 2 9
10 1 16
1 7 0 1 9
17 2 20
-56.52% -75.00% -44.83%
$233,000 $128,000 $233,000
-1.85% -3.52% -1.33%
HEBRON 1 Family Condo All Sales
0.00% N/A 5.26%
MANSFIELD 1 Family Condo All Sales
1 3 4 2 0
19 6 29
46.15% 50.00% 45.00%
41 10 63
61 21 99
48.78% 110.00% 57.14%
$206,000 $208,250 $192,500
$235,000 $233,000 $248,000
14.08% 11.88% 28.83%
$224,000 $179,950 $200,000
1 2 1 1 6
8 -33.33% 0 -100.00% 11 -31.25%
34 1 50
43 4 57
26.47% 300.00% 14.00%
$301,500 N/A $279,950
$300,000 N/A $295,000
-0.50% $264,450 N/A N/A 5.38% $259,500
1 4 2 1 9
8 -42.86% 0 -100.00% 17 -10.53%
52 9 77
49 6 91
-5.77% -33.33% 18.18%
$170,000 N/A $155,000
$296,950 74.68% $175,750 N/A N/A $99,000 $235,000 51.61% $159,900
$199,900 $126,750 $165,000
1 7 1 1 9
22 1 27
56 3 67
72 6 91
28.57% 100.00% 35.82%
$253,000 N/A $246,500
$225,250 -10.97% $263,000 N/A N/A $137,000 $228,000 -7.51% $242,000
$230,250 -12.45% $84,950 -37.99% $230,500 -4.75%
4 0 7
1 0 1
-25.00% -38.46% -33.33%
102 42 170
108 36 173
5.88% -14.29% 1.76%
2 -71.43% 0 -100.00% 3 -72.73%
25 2 34
13 0 19
-48.00% -100.00% -44.12%
538 78 771
590 91 862
9.67% 16.67% 11.80%
SOMERS 1 Family Condo All Sales
STAFFORD 1 Family Condo All Sales
TOLLAND 1 Family Condo All Sales
29.41% 0.00% 42.11%
UNION 1 Family Condo All Sales
0 0 1
0 N/A 0 N/A 0 -100.00%
-75.00% N/A -85.71%
N/A N/A N/A
N/A N/A N/A
N/A $134,500 N/A N/A N/A $125,000
N/A - 100.00% N/A N/A N/A - 100.00%
VERNON 1 Family Condo All Sales
3 2 1 3 5 4
24 8 36
$187,500 $101,000 $148,950
$223,000 $105,000 $200,000
18.93% 3.96% 34.27%
$169,500 $105,500 $148,900
$175,000 $104,658 $162,000
3.24% -0.80% 8.80%
$173,500 N/A $173,500
N/A -100.00% $209,900 N/A N/A N/A $255,000 46.97% $195,000
$194,500 -7.34% N/A N/A $195,000 0.00%
$224,000 $119,000 $200,000
$235,000 $183,000 $232,250
$215,000 $128,500 $204,450
WILLINGTON 1 Family Condo All Sales
7 1 1 1
TOLLAND COUNTY 1 Family Condo All Sales
1 71 2 5 2 37
143 18 200
-16.37% -28.00% -15.61%
44 | THE COMMERCIAL RECORD | AUGUST 2016
4.91% 53.78% 16.13%
$210,000 $113,000 $200,000
2.38% 13.72% 2.23%
TRENDLINES
WINDHAM COUNTY SALES REPORT
NUMBER OF SALES JUN 2015
JUN %CHG 2015 2016 15-16 YTD
MEDIAN PRICE
2016 YTD
%CHG 15-16
50.00% N/A 41.18%
JUN 2015
JUN %CHG 2015 2016 15-16 YTD
2016 %CHG YTD 15-16
ASHFORD 1 Family Condo All Sales
1 0 1
1 0 2
0.00% N/A 100.00%
12 0 17
18 0 24
12 1 18
-36.84% 0.00% -25.00%
54 1 67
58 2 80
N/A N/A N/A
N/A N/A N/A
N/A $167,000 N/A N/A N/A $167,000
$195,500 17.07% N/A N/A $171,000 2.40%
$162,500 N/A $148,750
$209,500 28.92% $174,950 N/A N/A N/A $209,500 40.84% $157,000
$185,500 6.03% N/A N/A $178,000 13.38%
BROOKLYN 1 Family Condo All Sales
1 9 1 2 4
7.41% 100.00% 19.40%
CANTERBURY 1 Family Condo All Sales
4 0 6
5 0 7
25.00% N/A 16.67%
20 0 26
23 0 34
15.00% N/A 30.77%
$188,400 N/A $188,400
$180,000 N/A $180,000
-4.46% $170,500 N/A N/A -4.46% $168,500
$215,500 26.39% N/A N/A $182,750 8.46%
1 0 1
4 0 7
300.00% N/A 600.00%
11 0 13
9 0 14
-18.18% N/A 7.69%
N/A N/A N/A
$137,450 N/A $127,000
N/A $160,000 N/A N/A N/A $145,000
$153,900 -3.81% N/A N/A $151,900 4.76%
2 0 3
100.00% N/A 0.00%
5 0 10
8 0 16
60.00% N/A 60.00%
N/A N/A $255,000
N/A N/A $255,000
N/A $159,900 N/A N/A 0.00% $154,450
$205,500 28.52% N/A N/A $165,000 6.83%
3 0 11
200.00% N/A 266.67%
4 0 10
11 0 24
175.00% N/A 140.00%
N/A N/A $196,000
$220,000 N/A $228,000 N/A N/A N/A $100,000 -48.98% $125,500
$204,000 -10.53% N/A N/A $123,200 -1.83%
29 0 34
866.67% N/A 240.00%
58 10 97
83 6 123
43.10% -40.00% 26.80%
$117,500 N/A $132,500
$153,000 30.21% $135,000 N/A N/A $129,500 $154,500 16.60% $134,900
$150,000 $133,000 $145,000
1 2 0 1 7
11 0 17
-8.33% N/A 0.00%
52 1 85
57 1 83
9.62% 0.00% -2.35%
$171,000 N/A $164,000
$162,500 N/A $162,500
-4.97% $143,950 N/A N/A -0.91% $140,000
$127,000 -11.77% N/A N/A $135,000 -3.57%
4 0 6
6 0 9
50.00% N/A 50.00%
15 0 29
21 0 36
40.00% N/A 24.14%
$326,950 N/A $259,450
$143,500 -56.11% $318,900 N/A N/A N/A $240,000 -7.50% $200,000
$186,500 -41.52% N/A N/A $178,200 -10.90%
9 2 1 2
11 4 20
22.22% 100.00% 66.67%
30 7 54
44 19 91
$175,000 N/A $175,000
$149,900 $219,250 $142,450
$145,000 -8.52% $145,000 -12.39% $135,000 -10.99%
4 0 5
100.00% N/A 66.67%
9 0 13
13 0 14
44.44% N/A 7.69%
N/A N/A $190,000
$154,847 N/A $172,000
N/A $132,900 N/A N/A -9.47% $132,900
$172,000 29.42% N/A N/A $173,500 30.55%
6 1 8
20.00% N/A 0.00%
22 1 35
23 1 33
4.55% 0.00% -5.71%
$157,000 N/A $143,500
$156,750 -0.16% $164,200 N/A N/A N/A $161,750 12.72% $137,000
$171,000 4.14% N/A N/A $158,500 15.69%
1 5 0 2 0
11 1 13
-26.67% N/A -35.00%
38 1 59
60 3 78
57.89% 200.00% 32.20%
$172,000 N/A $168,500
$182,500 N/A $182,500
$176,250 $139,900 $167,500
-2.06% N/A 8.06%
1 3 0 1 9
12 1 18
-7.69% N/A -5.26%
56 3 96
62 4 90
10.71% 33.33% -6.25%
$167,000 N/A $150,000
$166,250 N/A $146,050
$140,000 $119,950 $129,750
8.11% 12.63% 13.82%
15 2 23
200.00% N/A 109.09%
40 4 60
41 6 75
2.50% 50.00% 25.00%
$310,000 N/A $191,000
$310,000 0.00% $211,750 N/A N/A $148,450 $238,000 24.61% $191,500
$275,000 29.87% $130,000 -12.43% $200,000 4.44%
426 28 671
531 42 815
24.65% 50.00% 21.46%
$180,000 $175,000 $171,500
$172,950 $152,450 $164,000
$162,500 $139,450 $152,000
CHAPLIN 1 Family Condo All Sales
EASTFORD 1 Family Condo All Sales
1 0 3
HAMPTON 1 Family Condo All Sales
1 0 3
KILLINGLY 1 Family Condo All Sales
3 0 1 0
11.11% 2.70% 7.49%
PLAINFIELD 1 Family Condo All Sales
POMFRET 1 Family Condo All Sales
PUTNAM 1 Family Condo All Sales
46.67% 171.43% 68.52%
-14.34% $158,500 N/A $165,500 -18.60% $151,675
SCOTLAND 1 Family Condo All Sales
2 0 3
STERLING 1 Family Condo All Sales
5 0 8
THOMPSON 1 Family Condo All Sales
6.10% $179,950 N/A N/A 8.31% $155,000
WINDHAM 1 Family Condo All Sales
-0.45% $129,500 N/A $106,500 -2.63% $114,000
WOODSTOCK 1 Family Condo All Sales
5 0 1 1
WINDHAM COUNTY 1 Family Condo All Sales
9 5 3 1 44
132 10 195
38.95% 233.33% 35.42%
-3.92% -12.89% -4.37%
$164,000 $136,050 $147,000
-0.91% 2.50% 3.40%
AUGUST 2016 | THE COMMERCIAL RECORD | 45
FAIRFIELD COUNTY GOSSIP REPORT
1
NEW CANAAN
2
GREENWICH
3
NORWALK
ADDRESS: 123 Richards Ave., Norwalk PRICE: $5,850,000 SIZE: 736 square feet on 3.58 acres BUYER: Norwalk Senior Housing SELLER: RAP 2 LLC SOLD: 6/17/16
ADDRESS: 727 Smith Ridge Road, New Canaan
ADDRESS: 111 Park Ave., Greenwich
PRICE: $6,300,000
PRICE: $5,900,000
SIZE: 13,397 square feet on 4.55 acres
SIZE: 6,408 square feet on 1.82 acres
BUYER: Anthony Roncalli and Eric VonKuersteiner
BUYER: Hollie Franke and John Franke
SELLER: Kathy A. Klingenstein
SELLER: Jane Drittel
SOLD: 6/15/16
SOLD: 6/30/16
4
GREENWICH
ADDRESS: 108 Birch Lane, Greenwich PRICE: $5,550,000 SIZE: 5,233 square feet on 1.01 acres BUYER: Cyril Dosmond SELLER: Laura Feda and Thomas Feda SOLD: 6/29/16
5
GREENWICH
5 4 2
1
3 ADDRESS: 62 Brookridge Dr., Greenwich PRICE: $4,562,500 SIZE: 7,605 square feet on 1.5 acres BUYER: Batopilas LLC SELLER: 62 Brookridge LLC SOLD: 7/1/16
Generally speaking, a two-bed, one-bath, 736-square-foot home in Norwalk doesn’t go for $5.85 million these days, but a development is planning on the No. 3 property’s three adjacent acres. The 64-unit assisted living and memory care community will be developed by National Development.
46 | THE COMMERCIAL RECORD | AUGUST 2016
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