The Commercial Record February 2017 by The Warren Group

FEBRUARY 2017

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REAL ESTATE & FINANCIAL NEWS FOR CONNECTICUT

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OUTLOOK ISSUE Data, Business Intelligence Help Lenders Target Risk Factors Rising Equity, Low Rates Will Bolster Remodeling Market Commercial Developers Evolve To Fit Stateâ&#x20AC;&#x2122;s Changing Needs

FEBRUARY 2017 | THE COMMERCIAL RECORD | 1

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inside The Commercial Record’s Outlook Issue In order to understand the future of the state, one must understand what its people want, and what they need. In this issue, we examine some of those needs – all the way from housing development to entertainment and, of course, financial security – and how they’ll drive the markets through 2017 and beyond.

Rising Rates, Rising Risk Data analytics and business intelligence can help lenders pinpoint risk in a rising rate environment.

10 Construction Outlook Rising equity and low interest rates expected to push remodeling spending to all-time highs.

14 Shifting Gears Commercial developers are updating their game plans as the demand for multifamily complexes and indie hotels continues to rise.

16 Winners And Losers

Customers and prospects indicate the top financial institutions in each county.

state statistics

12 c-changes 13 in person 20 news roundup 22 top commercial transactions

24 trendlines 38 gossip report

FEBRUARY 2017 | THE COMMERCIAL RECORD | 3

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from the editor

LOOK TO THE SUBURBS AFTER THE WAVE OF URBAN-DWELLING MILLENNIALS CRESTS

hile a cloudy sky looms for multifamily developers and city planners, the aging of the Millennial cohort is great news for the Nutmeg State. A recent New York Times story posits that we may have reached peak Millennial population in urban environments. The wave of 25-year-old Millennials who want to live in city centers has crested, or will soon do so. If this generation follows past precedent, they will all move out to the suburbs eventually – and all the new apartments under construction won’t have anyone to live in them. Whether that peak is now or sometime in the future – and whether Millennials will behave as their Boomer predecessors have done – will have enormous impacts on housing, commerce and the composition of our city centers. It’s generally accepted in the world of urban planning that the Millennial

generation – commonly defined as those born in the years between the early 1980s and the late 1990s – prefer city living. There are a number of contributing factors, including the generation’s preference for walkability, desire to live close to amenities and, of course, the allure of living in the big city in one’s 20s. Another contributing factor – which can’t really be deemed a “preference” – is the undeniable fact that these young adults graduated into one of the worst job markets in history. When there were jobs available, those jobs tended to be in urban hubs. So it has gone with each generation – the young live in cities and enjoy the nightlife, eventually settling down

with spouses and children and pursuing a relatively slower-paced lifestyle in the suburbs. But those pesky Millennials don’t seem to be following a script on housing; their marriages, children and home purchases occur much later than those of their parents and grandparents’ generations. (Probably due to a combination of the aforementioned poor job market and crushing student loan debt, but that’s a discussion for another time.) There are indications that the wave has crested in cities nationwide. Several recent reports have concluded that rents are leveling off and/or dropping – indicating, one might assume, either a decline in the number of renters or their waning interest. This is exceedingly good news for Connecticut, which has struggled to create the kinds of urban environments in which Millennials want to live – and lost population as a result. Thus the state has wonderfully low single-family home prices, particularly compared to its near neighbors New York and Massachusetts. If indeed Millennials decide they want those picket fences after all, the Nutmeg State has a lot to offer to them – and at reasonable prices. This does not does not take into account the Boomers’ desire to revisit their hedonistic 20s and return to urban cores in their retirement. Flush with cash from the sale of their suburban manse, they may continue to seek out high-end condos in vibrant cities – and they won’t find many in the Nutmeg State. Fortunately there is an influx of 30- and 40-somethings behind them looking for larger homes in safe towns with good schools – all of which are in abundance in Connecticut. n

Cassidy Murphy Editorial Director Email: cmurphy@thewarrengroup.com

FEBRUARY 2017 | THE COMMERCIAL RECORD | 5

A Whole New World

RISING RATES, RISING RISK

Data Analytics, Business Intelligence Can Help Pinpoint Risk In New Environment BY LAURA ALIX | COMMERCIAL RECORD STAFF 6 | THE COMMERCIAL RECORD | FEBRUARY 2017

egulators have had their eye on credit risk for some time, but with several rate increases forecast for 2017, bankers may do well to invest in business intelligence and data analytics tools to better mitigate that risk and root out fraud in a rising rate environment.

The story, by now, should sound familiar: The prolonged low interest rate environment, combined with tightening regulations on residential mortgage lending, has led many banks to “reach for yield” on the commercial side of the house. One only need listen to quarterly earnings calls to hear bankers talk in vaguely ominous tones about the loosening of covenants and high loanto-value ratios. The Office of the Comptroller of the Currency (OCC) recently raised the issue in its latest Semiannual Risk Perspective, pointing to growth in commercial real estate and easing of underwriting standards and highlighting the need for concentration risk management. That takes on a new kind of relevance now that the Fed has indicated further interest rate increases may be on the horizon this year. And as rates continue their rise to normalcy, or something like it anyway, commercial borrowers are going to largely fall into three categories, said David O’Connell, senior analyst at Aite Group. “There will be the kind that are still money good with their current deal and they’ll be fine. There will be the kind that are not money good with their existing credit provider because they’re too risky and they will have to shop around for a new deal. The third kind are the more marginal creditors that are just plain in trouble and will have a hard time finding a new credit provider,” he said. On the whole, though, we seem to have mostly learned our lesson from the Great Recession, said Robert Ashbaugh, a senior risk consultant with the financial information company Sageworks. The environment a decade ago was almost a perfect storm, he said. While banks today might wiggle on covenants or pricing to gain an edge over a competitor down the street, they’re doing it more prudently than in the past. “I think the banks that do well will be the ones that really keep the focus on the credit,” Ashbaugh said. “They may be loosening the standards a little bit, but they’re still managing their exceptions, they’re still making credit a priority. The ones that do that will be the ones that survive.”

Sniffing Out Default Dangers But as rates rise and banks compete for those

few good credits in the market, experts say business intelligence and data analytics tools will be ever more necessary for a range of functions. “[Data is] probably one of their more important assets that they’re starting to come to grips with. A lot of banks are really starting to stress test their portfolio using their data,” Ashbaugh said. “They may not necessarily be required to do it but they’re realizing that it’s an advantage to do that.” Data can be especially useful for sniffing out which borrowers might be in danger of defaulting, but with loan originators and underwriters largely occupied with the next or current deal, bankers are going to need automated systems that can make those connections and push out alerts to lenders. That’s where companies like LexisNexis can play a role. Ben Cutler, senior director of small business risk at LexisNexis Risk Solutions, said the company has focused in recent years on collecting alternative data from more than 13,000 sources. Lenders – ranging from local credit unions to small banks to big banks to alternative lenders – use that information to better inform their decisions about businesses’ creditworthiness. “It’s kind of like small footprints,” he said. “A small business does a lot of things that just don’t show up in a credit report and it leaves these footprints out in the data environment that indicate its existence, that indicate that it’s operating.” Those footprints are also going to be increasingly useful for rooting out fraud, too. Cutler gives the example of a particular storage unit in Texas that has more than 1,000 names of individuals associated with it. An automated system can catch that discrepancy more easily than a data analyst poring over that information manually. “Banks are going to have to be really sharp with their monitoring of all things regarding their borrowers and they will need to use business intelligence to look for patterns, maybe patterns of an unknown nature,” O’Connell said. “We all know that a borrower who is late giving you their financial statements three times in a row is at a higher risk of defaulting. We will need business intelligence that will catch that because the human eye can’t.” n Email: lalix@thewarrengroup.com

FEBRUARY 2017 | THE COMMERCIAL RECORD | 7

STATE STATISTICS 10-Year Single-Family Sales More than $1 Million

Top 5 Credit Unions Market Share: All Mortgages

2,800

American Eagle FCU | 2016 Rank: 1 | 2015 Rank:1

21.85%

NUMBER OF SALES

2,240

20.61%

1,680 Charter Oak Fed Cr Un | 2016 Rank: 2 | 2015 Rank: 2

1,120

12.79%

560

12.77%

Sikorsky Fncl CU Inc | 2016 Rank: 3 | 2015 Rank: 3

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 *Statistics include sales January-December- All Years Source: The Warren Group

8.19%

Condo Sales By Price Range 6.92%

10,000 $700K+

9,000

$500k-$699k $400k-$499k $300k-$399k

8,000

$150k-$299k

NUMBER OF SALES

CT State Emp FCU | 2016 Rank: 4 | 2015 Rank: 5

$10K-$149k

7,000 6,000

5.88%

5.84%

5,000

Navy FCU | 2016 Rank: 5 | 2015 Rank: 4 4,000 3,000

5.86%

2,000

6.03%

1,000 0

1991

1996

2001

2006

2011

*Statistics include sales January-December- All Years Source: The Warren Group

8 | THE COMMERCIAL RECORD || FEBRUARY FEBRUARY2017 2017

2016

2015

*2015 MarketShare percent (of Credit Union Lenders only) thru December 2016 *2014 MarketShare percent (of Credit Union Lenders only) thru December 2015

Top 5 Lenders By Market Share Purchase Mortgages

10-Year Condo Sales 15,000

William Raveis Mtg Co | 2016 Rank: 1 | 2015 Rank: 2

12,000

3.23%

Wells Fargo Bank | 2016 Rank: 2 | 2015 Rank:6

3.11%

NUMBER OF SALES

3.39%

9,000

6,000

3,000

2.22% 0 Norcom Mortgage | 2016 Rank: 3 | 2015 Rank: 1

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 *Statistics include sales January- December - All Years Source: The Warren Group

2.69%

Multifamily Home Sales 4.44%

3,500

2-Family

3-Family

Bank of America NA | 2016 Rank: 4 | 2015 Rank: 13

NUMBER OF SALES

2,800

2.40%

2,100

1.82% Village Mtg Co | 2016 Rank: 5 | 2015 Rank: 5

1,400

2.40%

700 2.63%

2016

2015

*MarketShare percent and Rank statistics includes loans thru December for both 2015 & 2016

06 07 08 09 10 11 12 13 14 15 16 *Statistics include median prices January-December - All Years Source: The Warren Group

FEBRUARY 2017 | THE COMMERCIAL RECORD | 9

Construction Outlook

REMODELING SPENDING EXPECTED TO REACH ALL-TIME HIGHS IN 2017 Rising Equity, Low Interest Rates Fuel Construction Spending

BY JIM MORRISON | COMMERCIAL RECORD STAFF

ationwide spending on remodeling is expected to increase 6.7 percent to $317 billion in 2017 from $297 billion last year, according to a report from the Joint Center for Housing Studies at Harvard University. And contractors in the Nutmeg State are already seeing the trend. “Homeowner remodeling activity continues to be encouraged by rising home values and tightening for-sale inventories in many markets across the country,” said Chris Herbert, the center’s managing

director. But “a recent slowdown in the expansion of single-family homebuilding and existing home sales could pull remodeling growth off its peak by the second half of 2017.”

10 | THE COMMERCIAL RECORD | FEBRUARY 2017

Those rising home values create equity for homeowners to borrow against and with interest rates still fairly low despite recent upticks, lenders are expecting 2017 to be another big year for home equity lending. And the majority of people who take out home equity loans spend that money on home improvement.

Homeowners Spend More Freely Roger Hadden, owner of Professional Property Services in South Windsor, said he’s about as busy as he can be – largely

HELOCs In Connecticut

16,000

12,000

160

10,444

12,369

8,000

120

800 4,699

4,000

4,711

3,147

400 3,078

2011

2012

2013

2014

2015

2016

Source: The Warren Group | Totals are for single-family homes and include home equity loans and home equity lines of credit due to referrals from Realtors. Hadden does repairs for homeowners preparing their homes for sale, as well as repairing issues that arise from home inspections and upgrades for buyers. He finds clients are more willing to spend money on upgrades than they have been in recent years. “In the past I dealt with more sticker shock,” Hadden said, “but now people just want to know when I can get started. And it’s hard to keep to a schedule because almost every job I get, it takes longer because the customers keep asking us to do more and more while I’m there.” Junior Marques, of Pro Marques Contracting in New Fairfield, said 2016 was the busiest the company he runs with his brother has ever seen. The Marques brothers are third-generation carpenters and cover a one-hour radius around Danbury; they have been remodeling in the area for more than 20 years. “A lot of our customers remodeled

their house this year, but not many did additions,” Marques said. “They replaced carpet with hardwood flooring, installed new cabinets, upgraded windows, a lot of interior painting. We did a lot of new front stairs and walks and patios. We didn’t stop all year.” Marques sees more of his customers doing elective upgrades, as opposed to repairing or replacing components that had to be replaced out of necessity. Hadden’s customers aren’t just updating fixtures or retiling the shower wall. They want bigger, updated bathrooms, preferably one for each bedroom. “This has been the year for bathrooms,” Hadden said. “We get a lot of jobs where they want to make it big and new and nice. We also get a good amount of older people who want the tub removed for a walk-in shower.” Marques’ customers are also investing in bathrooms, updating them for a more modern lifestyle.

“People don’t like tubs any more, especially cast iron or fiberglass,” Marques said. “If you have space, the tub is installed separately and a walk-in, tiled showers with multiple showerheads and a little seat. We did one in the beginning of December, a pipe burst on the outside wall and we replaced all the plumbing on the outside walls with PEX. It’s very nice.” Both contractors said their clients are happy to pay for quality components and quality construction. These days homeowners want low-maintenance, high-quality, long-lasting upgrades that look great and make life simpler. And they don’t mind paying for it. “People are spending more on the inside,” Marques said. “People are doing more that they don’t have to; they want to. Carpet is gone. It’s a new era now. People want easy cleanup. Whatever makes life easier for them, that’s what they want.” n Email: jmorrison@thewarrengroup.com

FEBRUARY 2017 | THE COMMERCIAL RECORD | 11

C-CHANGES IN CONNECTICUT’S EXECUTIVE SUITES Webster Bank announced that Christopher Motl has been promoted to executive vice president and head of commercial banking. Previously executive vice president of middle market banking, Motl will now lead all commercial banking business units, including sponsor and specialty finance, middle market banking, commercial real estate, Webster Business Credit Corp., Webster capital finance and treasury and payment solutions/government and institutional banking. Motl will also become a member of the executive management committee and executive vice president of Webster Financial Corp. He joined Webster in 2004 from CoBank.

Real Living Wareck D’Ostilio Real Estate recently announced Neil P. Currie has joined its newly launched company WD Management LLC as its director. WD Management LLC is a full service property management company overseeing the operation of rental apartment complexes, commercial, retail and industrial real estate properties throughout Connecticut. Licensed in real estate, Currie has headed sales and leasing departments, personally managed and overseen day to-day property operations for rental apartments complexes including lease renewals, insurance requirements and negotiations with new clients as well as third-party contractors. Currie will base WD Management LLC from the Wareck D’Ostilio Real Estate in Milford at 174 Cherry St.

Webster Bank has named Rachel Mahoney as senior vice president and director of brand, affinity and community affairs. Mahoney has 15 years of experience leading national consumer brands in both agency and client-side environments, developing and executing integrated marketing campaigns across various industries. She joins Webster from Priceline.com, where she ran brand marketing, overseeing strategy, creative, media, communications and content for one of the country’s strongest ecommerce brands and fastest growing businesses.

Goldman Sachs Group Inc. has named a new chief information officer as former head Marty Chavez will become chief financial officer of the Wall Street firm. Elisha Wiesel, currently chief risk officer for the securities division, will replace Chavez, according to an internal memo on Monday and confirmed by bank spokeswoman Tiffany Galvin. Wiesel joined Goldman as an analyst in 1994 in the bank’s commodities division J. Aron, where Chavez and Goldman CEO Lloyd Blankfein also began their careers. He was named managing director in 2002 and partner in 2004.

AWARDS & ACCOLADES Webster Private Bank has announced that Joe M. Cox II, senior vice president and senior investment manager, along with Chris Perry, senior vice president and senior managing director, both of Webster Wealth Advisors, have been named Five Star Wealth managers in Connecticut. This is the fifth consecutive year for Cox and the fourth consecutive year for Perry to have received this honor. Cox holds the CFP certification and AAMS, CRPC and AIF designations. Perry also holds the CFP certification and is an investment advisor representative of Commonwealth Financial Network. He holds FINRA Series 7 and 66 registrations as well as life, health, accident and variable insurance licenses.

12 | THE COMMERCIAL RECORD | FEBRUARY 2017

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.

CARL LANTZ III, REALTOR, RE/MAX Carl Lantz started his professional life as a professional chef, a career he says is one of the few that forces people to work longer, later hours than real estate does. What is the market like now? I think the market is going up and those of us who are really dialed-in are doing well. There’s always opportunity and the last couple of years have been filled with that. I tell buyers to watch the interest rates and I’m concerned over FHA mortgage insurance. Affordability is a huge piece of the pie. What is something that people just don’t get about Realtors? People don’t understand buyer and seller agency. As new buyers get into the process, they’re looking on Realtor.com or Trulia or Zillow and they expect that if they see something they like and contact the agent, they will be talking to the listing agent. What they’re not realizing is often times they’re not. Those leads are up for grabs for lots of people.

LAUREN FREEDMAN, REALTOR, COLDWELL BANKER Lauren Freedman started selling real estate during one of the worst markets in memory. Was it hard to get people to take you seriously at that age? Yes, definitely. Sometimes my age works in my favor. Older agents aren’t always so tech-savvy and some of them don’t work at 10 p.m. or 6 a.m., or don’t work on Sundays. I’m always available. Sometimes I get prospective clients who tell me they already have an agent who sold their house, but they’ve called her three times and she hasn’t called them back and they like that I pick up the phone. I always get back to people right away. How did you get so busy, so quickly in a flat market? It’s just past client referrals. Ninety percent of the calls I get are people who tell me they heard I sold so-and-so’s house and she told them I was excellent. Once I went out to dinner and the waiter said, “I know you, you’re that woman from the billboard.”

SCOTT FRANKLIN, FOUNDER, SCOTT B. FRANKLIN & ASSOC. When West Hartford attorney Scott Franklin represents clients in real estate matters, he brings added perspectives to the negotiating table beyond his legal background. What types of real estate transactions kept you busiest in 2016? There have been changes in residential with TRID and that completely changed the climate out there. Anytime you get new regulations, it forces a lot of people out of the industry, some of whom shouldn’t have been in it. There’s also been a rise in cybercrimes in the legal side of real estate, with email hacking and things like that. What are some of the key negotiation points in leases in the current market? We’re still going back and forth between triple-net and modified gross (leases). Every landlord wants a triple-net lease, but you’ve got to judge your market. Retail is typically triple-net if they can get it, but it’s all supply and demand.

BRYAN GARCIA, PRESIDENT AND CEO, CONNECTICUT GREEN BANK Bryan Garcia first developed a passion for protecting the environment during his childhood. What about the Connecticut Green Bank’s mission appealed to you? We’re focused on attracting more private investment into Connecticut’s clean energy economy. We’ve mobilized $1 billion of investment into the state’s economy, we’ve helped 20,000 households and businesses reduce their energy burden by deploying more than 200 megawatts of renewable energy and we’ve created over 12,500 jobs in our communities, all the while reducing 2.5 million tons of CO2 emissions that are contributing to global climate change. What were some of the initial challenges the Green Bank faced during its the first year of operation? We had to establish a governance structure, we had to identify a strategy that made sense in supporting the clean energy policy goals of the state, and then we had to roll out a few products and programs that would demonstrate to the market that we’re here and this is what we do.

FEBRUARY 2017 | THE COMMERCIAL RECORD | 13

Shifting Gears

CHANGES SWEEP THROUGH COMMERCIAL REAL ESTATE MARKETS Strong Demand For Indie Hotels, Multifamily Development Expected To Continue

BY STEVE ADAMS | COMMERCIAL RECORD STAFF

enerational changes in working styles, living arrangements and business travel are prompting Fairfield County developers to update their game plans. Huge blocks of vacant office space left behind by downsizing investment firms are a major factor driving increases in vacancy rates for class A properties. But an uptick in leasing activity during the

fourth quarter bodes well for the market in 2017, said James Ritman, a managing director at Newmark Grubb Knight Frank. â&#x20AC;&#x153;I, for one, am an optimist. There was

14 | THE COMMERCIAL RECORD | FEBRUARY 2017

great momentum at the end of the year,â&#x20AC;? said Ritman, who led a recent market discussion sponsored by the Building Owners and Managers Association (BOMA) of Southern Connecticut. The momentum will need to carry over into 2017 to offset big declines in occupancy felt during the past 12 months. Fairfield County office space had over 1.1 million square feet of negative absorption during 2016, nearly all

in the Class A submarket, according to NGKF’s fourth quarter report. The biggest factor was UBS’s previously vacated 720,000-square-foot Stamford offices, with the lease expiring in September. One indicator that bodes well for 2017 is a late-year flurry of leasing activity, with companies committing to 1.3 million square feet of office space in the fourth quarter. That represented a 12.2 percent increase from the previous year. Industries such as defense and financial services that have driven Connecticut’s economy for decades accounted for many of the largest lease transactions. Sikorsky Aircraft renewed 260,000 square feet at One Far Mill Crossing in Shelton, shortly after Gov. Dannel Malloy offered the defense contractor $220 million in tax incentives to remain in Connecticut. Hedge fund manager Bridgewater Assoc. renewed 90,000 square feet at 45 Glover Ave.

Hotels Feel Reduction In Business Travel The retrenchment among office tenants has had a spillover effect on the hotel market. Occupancies and room rates declined in 2016 at hotels that cater to business travelers, said Randy Salvatore, president of Stamford-based developer RMS Cos. The company’s holdings include the Hotel Zero Degrees in Stamford and Norwalk and the Delamar Southport. At the same time, a new opportunity has emerged for hotel developers to operate independently. Forsaking management agreements with major hotel brands cuts owners’ costs by up to 10 percent, said Salvatore. Online reservation services and review sites have eroded the major advantages of chain hotels. “The Internet has leveled this playing field very much,” Salvatore said. “With TripAdvisor, not only can you find it, but you know what you’re getting.” Multifamily housing is expected to continue to provide the bulk of the Fairfield County development pipeline in 2017, with new rental complexes catering to Millennials and empty-nesters continuing to rise in urban centers including Danbury, Norfolk and Stamford. Stamford-based Building and Land Technology expects demand for apart-

Big blocks of vacant space left behind by financial companies in Fairfield County will affect the office market in 2017. In downtown Stamford, UBS vacated the 720,000-squarefoot 677 Washington Boulevard in 2015 but continues to occupy the 540,000-square-foot 600 Washington Boulevard (pictured).

Multifamily housing is expected to continue to provide the bulk of the development pipeline in 2017, with new rental complexes catering to Millennials and empty-nesters continuing to rise in urban centers including Danbury, Norfolk and Stamford. ments to remain strong throughout 2017, said Ted Ferrarone, BLT’s chief operating officer. “The lending industry is much more bullish on multifamily than other categories. It’s relatively easy to get construction financing,” Ferrarone said. “We’ve built 2,300 apartments in the South End (of Stamford) and it’s all pretty well occupied. We’ve had good rent growth and strong demand in all of the buildings.” Nearly 50 percent of the company’s tenants hail from out-of-state, including a substantial New York influx, Ferrarone said. Millennials drive most of the leasing activity, with nearly 65 percent of the market for new luxury apartments coming from renters under age 35, Ferrarone

said. Empty-nesters selling single-family homes in the “back country” of towns such as Redding and Weston are another major demographic. For multifamily developers, the question is whether preferences for urban living are a permanent lifestyle change or simply a function of the Millennial generation’s outsized influence on the market. “Historically, (under 35) is the age that apartment renters are,” Ferrarone said. “Now they’re Millennials. They used to be Generation X’ers. Their net worth is low and debt is high, and they’re going to be renters not by choice but by necessity.” n Email: sadams@thewarrengroup.com

FEBRUARY 2017 | THE COMMERCIAL RECORD | 15

Winners And Losers

HIGH PERCENTAGE OF CT CUSTOMERS SAY THEYâ&#x20AC;&#x2122;LL SWITCH BANKS THIS YEAR

Top Three Financial Institutions In Each County Rated For Quality By Customers, Reputation By Prospects

16 | THE COMMERCIAL RECORD | FEBRUARY 2017

The Commercial Record is partnering with Westport-based market research firm Customer Experience Solutions to bring our banking and finance readers information from their own clients and prospects. Customer Experience Solutions runs the CT Bank Customer Benchmark and the CT Bank Prospect Benchmark, biannual scientific studies of Connecticut consumers and businesses that gathers their experiences and satisfaction levels with the products and services of the financial institutions they currently use and their perceptions of the institutions they might consider using in the future. The study includes over 20,000 unbiased reviews annually and provides individual detailed institution-level results and county-level rankings across the state. In this first installment, Customer Experience Solutions President and CEO Bruce Paul shares the top ranked banks in terms of overall quality as identified by their own customers, the top ranked banks in terms of reputation as rated by their own prospects, and the percentage of customers who said they would be switching banks within six months. See page 18 for the survey results.

BY BRUCE PAUL | SPECIAL TO THE COMMERCIAL RECORD

inancial institutions tend to hear unsolicited feedback from two kinds of customers – those who are very happy, and those who are very upset.

Even those banks and credit unions that try to survey a representative sample of their customers may end up with inaccurate results. This is because many customers are not completely honest because they do not want to get their favorite BRUCE PAUL teller or commercial banker in trouble, and sometimes a bank’s employees will try to coach respondents to give good scores. This can lead to an inaccurate view of a bank’s customer base and lead to business decisions based upon imprecise customer intelligence. Customer Experience Solutions takes a different approach and independently surveys all banks’ customers for an unbiased look at what clients think and feel about their banking institutions. The result is a holistic view of the good, the bad – and the middle. In this article we have the top rated banks for overall quality in each Connecticut county, as ranked by their own retail and commercial customers. The overall quality index is a combination of servicing, tools, problem incidence and resolution, policies and trust. We will examine some of those particular metrics in upcoming issues. The top tier performers include a range of large and small institutions, showing that size does not necessarily translate into results. Worth noting, there are a number of institutions that fell just below the top tier and may be able to capitalize on their strengths to achieve the top level in the next survey, scheduled for April/May. We also have the top rated banks for reputation as a strong bank. This index is based upon the perceptions of each bank’s prospects (non-customers), since reputation is a strong driver when considering a new banking relationship. While larger national or regional banks have a possible advantage in terms of assets or name recognition, a number of

smaller banks also achieved the top tier. Worth noting, a number of institutions had reputations that varied starkly from market to market, indicating an inconsistency in marketing effectiveness across their footprint. Perhaps the most sobering result of the Q4 2016 survey was the number of customers who say they are going to leave their bank in the next six months. Surprisingly, 14 percent of retail customers and 18 percent of commercial customers (including small business, middle market and large corporate) say they intend to make the switch in the first part of 2017. This is significantly higher than the national average, which saw 11 percent of US banked consumers changing banks in the entire 12 months of last year. While we don’t expect the turnover to be quite as high as the survey results indicate – it is easier to intend to leave than to actually leave – the conclusion is that there will be some big winners and some big losers among Connecticut’s financial institutions in 2017. Some of them are very well positioned to capture market share, with almost 100 percent projected loyalty in their core markets, if they can focus on their strengths. Others will struggle mightily, unless they shore up their vulnerabilities, with as much as half of their customer base saying they want to switch. One of the interesting findings is that several of the banks in multiple counties are performing very differently across their footprint: they have a high degree of loyalty in one market but a high degree of vulnerability in another. Bruce Paul is president and CEO of Westport-based Customer Experience Solutions. He may be reached at (203) 906-8923 or bruce@cescx.com. For more information please visit cescx.com. See page 18 for Survey Results

FEBRUARY 2017 | THE COMMERCIAL RECORD | 17

TOP PERFORMERS IN OVERALL QUALITY, Q4 2016 FAIRFIELD

HARTFORD

NEW HAVEN

NEW LONDON

Retail

Chase Citibank Bankwell

American Eagle FCU First National Bank of Suffield Farmington Bank

Ion Bank TD Bank Liberty Bank

Liberty Bank Chelsea Groton Bank Dime Bank

Commercial

Peoples’ United Bank Savings Bank of Danbury Bankwell

Webster Bank Key Bank Liberty Bank

Ion Bank TD Bank The Milford Bank

Savings Institute Bank & Trust Liberty Bank Peoples’ United Bank

LITCHFIELD

MIDDLESEX

TOLLAND

WINDHAM

Retail

TD Bank Salisbury Bank Torrington Savings Bank

American Eagle FCU TD Bank Essex Savings Bank

TD Bank Savings Institute Bank & Trust Farmington Bank

Savings Institute Bank & Trust Liberty Bank Dime Bank

Commercial

TD Bank Torrington Savings Bank Thomaston Savings Bank

Farmington Bank Citizens Bank Liberty Bank

Liberty Bank Savings Institute Bank & Trust United Bank

Liberty Bank CNB Jewett City Savings Bank

TOP BANKS IN REPUTATION AMONG PROSPECTS, Q4 2016 FAIRFIELD

HARTFORD

NEW HAVEN

NEW LONDON

Retail

Chase Bank Citibank Peoples’ United Bank

TD Bank Webster Bank Peoples’ United Bank

Chase Bank TD Bank Citibank

Peoples’ United Bank Citizens’ Bank Chelsea Groton Bank

Commercial

Peoples’ United Bank Chase Bank Citibank

TD Bank Key Bank BofA

Citibank TD Bank Chase Bank

Peoples’ United Bank Dime Bank Liberty Bank

LITCHFIELD

MIDDLESEX

TOLLAND

WINDHAM

Retail

TD Bank Webster Bank BofA

TD Bank Chase Bank Wells Fargo

TD Bank BofA United Bank

Savings Institute Bank & Trust Peoples’ United Bank CNB (Easthampton)

Commercial

Webster Bank BofA Salisbury Bank

Ion Bank American Eagle FCU Liberty Bank

United Bank Savings Institute Bank & Trust Stafford Savings Bank

CNB Putnam Bank Jewett City Savings Bank

18 | THE COMMERCIAL RECORD | FEBRUARY 2017

CURRENT CUSTOMERS PLANNING TO LEAVE THEIR BANK IN THE NEXT SIX MONTHS RETAIL CUSTOMERS

20 ELD

LITC

HFI

13%

ELD HFI

N 17

CT OVERALL TOTAL: 14%

HAVE

LITC

NEW

26%

MID

LON

HA VE

S DLE

1 RD

NEW

F RT HA

LAN

FA IRF IEL D

% 15 FA IRF IEL D

TOL

17%

X SE

% 16

1 RD

TF AR

LAN

L DD

WIN

WIN TOL

19%

17%

13%

COMMERCIAL CUSTOMERS

CT OVERALL TOTAL: 18%

Commercial customers include small business, middle market and some large corporate clients. | Source: Customer Experience Solutions

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NEWS ROUNDUP ATTORNEY ADMITS ROLE IN LIFE INSURANCE SCHEME

$5M IN STATE FUNDING WILL HELP HOMEOWNERS TEST FOR PYRRHOTITE IN CONCRETE

A real estate attorney waived his right to be indicted and pleaded guilty this week to a conspiracy charge stemming from a scheme to defraud insurance companies into issuing insurance policies on the lives of elderly people for his and other investors’ benefit. According to court documents and statements, between approximately June 2008 and January 2016, David Quatrella, of Trumbull, and others, assisted elderly persons in applying for multimillion-dollar life insurance policies. Quatrella and his coconspirators offered the insureds the promise of free life insurance for two years, after which Quatrella and his co-conspirators would attempt to sell the policy and provide a share of the proceeds to the insured. The insured was not obligated to pay anything and was commonly told that the premiums were being borrowed from a third-party source. As part of the scheme, Quatrella and others recruited investors to finance the payment of premiums on the life insurance policies, with the understanding that the investors would earn a profit upon the sale of the policy. Quatrella and his co-conspirators then submitted applications containing false and misleading information to various life insurance providers, and failed to disclose the third-party premium funding arrangements for the policies, according to the Department of Justice. Quatrella pleaded guilty to one count of conspiracy to commit wire fraud. Sentencing is scheduled for April 28, at which time Quatrella faces up to five years in prison, if convicted. Quatrella also has agreed to forfeit $272,000, which is roughly the amount he profited from the scam.

Gov. Dannel P. Malloy announced that he intends to allocate $5 million in state funding to assist homeowners in northeastern Connecticut who are concerned about the existence of a mineral in their homes’ foundations that could cause those foundations to deteriorate. The funding will be used to provide testing and including visual inspections of foundations in order to better understand the extent of the problem. The Connecticut Department of Housing (DOH) is also planning to allocate an additional $1 million in federal block grant funding to further assist low and moderate-income homeowners and help offset these testing costs. Under the new program, homeowners will be eligible for a 50 percent reimbursement – up to $2,000 – for the testing of two core samples within their home. Homeowners who have visual testing conducted by a licensed professional engineer will be eligible for a 100 percent reimbursement – up to $400. The program will provide testing for applicants with homes built since 1983 and that are within a 20-mile radius of the J.J. Mottes Concrete Co. in Stafford Springs. Malloy will coordinate with the Capitol Region Council of Governments (CRCOG) to administer this funding and provide reimbursement to homeowners who have their foundations tested. CRCOG will provide quarterly reports on testing results to the Department of Consumer Protection and the Attorney General’s office.

THE MOST VIEWED ARTICLES IN DECEMBER Webster Bank Manager Indicted On Embezzlement Charge Responsiveness Gets Rewarded Attorney Admits Role in Life Insurance Scheme Citing Declining Foot Traffic, Webster To Shutter Eight Branches This Spring • Former Attorney Pleads Guilty To Defrauding Clients Of More Than $824K • • • •

20 | THE COMMERCIAL RECORD | FEBRUARY 2017

• • • • •

Developer Obtains Construction Financing For Senior Housing In Stamford Realty Firm Scoops Up East Hartford Condo Units For $6.7M Defunct Woodbury Restaurant Purchased, To Be Rebranded Construction Company Acquires Multi-Use Cromwell Facility Home Health Agency Agrees To Settle False Claims Acts Allegations For $5.25M

EVENTS HFF COMPLETES $30.25M SALE IN PLAINVILLE

AFFORDABLE LENDING SUMMIT Connecticut Mortgage Bankers Association March 9, 2017 Radisson Cromwell, 100 Berlin Road, Cromwell , CT Who should attend: Mortgage banking professionals More information: www.cmba.orgt

CABLE COMPANY EYES EXPANSION IN NORTH HAVEN

Holliday Fenoglio Fowler L.P. (HFF) recently closed the $30.25 million sale of Medical Arts Center at The Hartford HealthCare Cancer Institute. HFF marketed the 72,022-square-foot property exclusively on behalf of the seller, Tomasso Group, and procured the buyer, a publicly-traded medical office REIT. Tomasso Group affiliate, Tunxis Management Co., will continue to manage the property post-closing. Medical Arts Center, located at 201 North Mountain Road, in Plainville, is a joint venture between the hospital and Memorial Sloan Kettering. The center shares a lobby with the cancer center, which leases the entire first floor of the building. At the time of the sale, the Medical Arts Center was 95-percent leased to Hartford Healthcare, Orthopedic Associates of Hartford and Hartford Healthcare-employed physicians. The center offers a range of services, including cancer care, a full modality imaging center, breast surgery, colorectal, vascular, podiatric surgery, urology, plastic and reconstructive surgery, neurosurgery and physical therapy. Michael Goldenberg, president of Health Realty Advisors, consulted in the sale. The HFF investment sales team representing the seller was led by Ben Appel, Phil Mahler, Evan Kovac and Doug Rodio.

A fiber optics cable company purchased 2 acres of land in North Haven for $700,000. Mason Holdings LLC sold the 9,800-square-foot property at 66 Leonardo Drive. The buyers, Scott Cavallaro and Jason Brenner, who operate the cable company, may use the new space for future expansion, according to a statement from Pearce Real Estate. Pearce Real Estate represented the seller, and Margaret Bennett of Wallingford-based Margaret Bennett Realty represented the buyers.

CITING DECLINING FOOT TRAFFIC, WEBSTER TO SHUTTER EIGHT BRANCHES THIS SPRING Webster Bank is closing eight branches across the Northeast in an effort to optimize its branch network as consumers increasingly move to self-service channels online and on mobile devices. “We continue to evaluate our network to ensure that our banking centers efficiently balance our physical and digital banking channels in response to rapidly changing customer expectations,” David Miree, executive vice president, consumer deposits and investments, said in a statement. “At the same time, we concurrently invest in high-opportunity markets and modernize the overall banking experience. Banking centers are, and will continue to be, the cornerstone of our service culture, which is based on relationship development.” The branches Webster is closing are in areas with a median distance of less than two miles to the next Webster location, the bank said. Beginning on April 7, the bank will close branches in

Scarsdale, New York; Danbury, Manchester and Wethersfield, Connecticut; East Greenwich, Cranston and Warwick, Rhode Island; and New Bedford, Massachusetts. The bank said its overall teller transactions declined nearly 40 percent from 2010 to 2016. Webster also said that 47 percent of its checking account households are now served by mobile banking, and self-service deposits now represent 40 percent of all deposits. All bankers at the affected banking centers will have the opportunity to be reassigned within Webster.

FEBRUARY 2017 | THE COMMERCIAL RECORD | 21

TOP COMMERCIAL TRANSACTIONS Visit www.commercialrecord.com for a complete list of commercial transactions updated weekly. TOP 3 STATEWIDE 2323 Whitney Ave, Hamden.................$10,000,000*

2321 Whitney Ave, Hamden.................$10,000,000*

355 Long Hill Rd, Groton....................... $6,850,000

Use:..........................................Commercial Building

Use:................................Apartment Bldg - 9 + Units

Buyer:.................................................... HC 2 Assoc

Buyer:................................ Phoenix Apartments LLC

Seller: .................................... Hamden Realty Assoc

Seller:......................................................... PXA LLC

Mtg: ........................................Ion Bank $7,500,000

Date: ......................................................... 01/03/17

Date: ......................................................... 12/02/16

Total Assessed Value (2016): ..................$2,861,600

Total Assessed Value (2016): .....................$562,730

Total Assessed Value (2016): ..................$5,353,390

Lot Size: .................................................... 307969sf

Lot Size: ...................................................... 25700sf

Lot Size: .................................................... 118483sf

Prior Sale:.................................. $6,850,000 (04/08)

FAIRFIELD 5 Woodland Ave, Stamford.............. $2,600,000 Use:............................................... Apartment Building Buyer: ............................................ 5-9 Woodland LLC Seller: ................................. 59 Woodland Avenue LLC Date: ............................................................ 12/21/16 Total Assessed Value (2016): ........................$421,850 Lot Size: ........................................................... 6163sf Prior Sale: .....................................$2,310,000 (05/07)

100 Commerce Dr, Shelton............. $2,450,000 Use:............................................. Commercial Building Buyer: ......................................100 Commerce Dr LLC Seller: ........................................... Hattco Shelton LLC Mtg:.......................... Hattco Shelton LLC $2,225,000 Date: ............................................................ 12/12/16 Total Assessed Value (2015): .....................$2,100,000 Lot Size: ....................................................... 240016sf Prior Sale: .....................................$4,650,000 (07/06)

58 Mansfield Ave, Darien................ $2,295,000 Use:................................... Apartment Bldg - 4-8 Units Buyer: .................. Ronald Armstrong & Thu Armstrong Seller: .............................. Kristy Erwin & Clayton Erwin Date:............................................................ 12/12/16 Total Assessed Value (2016): .....................$1,358,490 Lot Size: ......................................................... 26877sf Prior Sale: .....................................$1,000,000 (09/06)

Scott Swamp Rd, Farmington.........$1,775,000 Use:...............................................Office Bldg-General Buyer:............................. 195 Scott Swamp Road LLC Seller: ............................WS NV Scott Swamp Rd LLC Date: ............................................................ 12/30/16 Total Assessed Value (2016):..................... $4,579,340 Lot Size: ....................................................... 860746sf Prior Sale: .....................................$3,500,000 (03/16)

687 Main St, Manchester................ $1,775,000 Use:............................................. Commercial Building Buyer: ................................ 45-25 45th Sunnyside LLC Seller:........................................ Netz Manchester LLC Mtg: ...................................Webster Bank $1,242,500 Date: ............................................................ 12/16/16 Total Assessed Value (2016):..................... $1,004,900 Lot Size: ......................................................... 16553sf Prior Sale: .....................................$1,025,000 (05/12)

904 Main St, Watertown.................. $800,000 Use:............................................. Commercial Building Buyer: ............................... Lombard Group Prospect 2 Seller: ..................................... Bobz LLC & Zinger LLC Date: ............................................................ 12/07/16 Total Assessed Value (2016):........................ $215,200 Lot Size: ......................................................... 25700sf Prior Sale:........................................ $300,000 (08/13)

260 Danbury Rd, New Milford.......... $800,000 Use:............................................. Commercial Building Buyer:............................................... Joseph Lostocco Seller: ...............................................Salisbury B&T Co Date: ............................................................ 01/03/17 Total Assessed Value (2016): ........................$611,030 Lot Size: ....................................................... 151589sf

50 Sebethe Dr, Cromwell................ $2,100,000 Use:..................................................Industrial Building Buyer: ........................................50 Sebethe Drive LLC Seller: ...................................... Sebethe Drive Partners Date:............................................................ 12/30/16 Total Assessed Value (2016):..................... $1,223,390 Lot Size:....................................................... 203861sf Prior Sale: .....................................$1,831,180 (10/11)

264 Freestone Ave, Portland.......... $1,514,000 Use:......................................... Manufacturing Building Buyer: .......................................CT Pharmaceutical Sol Seller: .......................................Freestone Avenue LLC Mtg:........................ Seller $1,114,000 Date: 12/27/16 Total Assessed Value (2016): .....................$1,739,920 Lot Size:....................................................... 277477sf Prior Sale: .....................................$2,000,000 (10/15)

HARTFORD 77 Weston St, Hartford................... $3,000,000 Use:......................................... Manufacturing Building Buyer: ...................................... Mitchell Farmington Vly Seller: ................................................. SAB Realty LLC Mtg: ........................ Santander Bank NA $11,718,000 Date: ............................................................ 12/21/16 Total Assessed Value (2016): ........................$700,000 Lot Size: ....................................................... 175111sf

LITCHFIELD 169 Callender Rd, Watertown......... $3,850,000 Use:..................................................Industrial Building Buyer: .............Oakville Investments LLC & Jonsar LLC Seller: ..................................... 169 Callender Road Inc Mtg: .............................Litchfield Bancorp $1,750,000 Date: ............................................................ 12/20/16 Total Assessed Value (2016): .....................$2,354,600 Lot Size: ....................................................... 871200sf Prior Sale: .....................................$2,100,000 (04/88)

MIDDLESEX 10 Hillside Rd, Cromwell................ $3,843,000 Use:............................................. Commercial Building Buyer: ............................ Cube HHF Northeast CT LLC Seller: ................................Philmor REL Cromwell LLC Mtg:............................ Wells Fargo Bank $44,500,000 Date: ............................................................ 12/27/16 Total Assessed Value (2016):..................... $1,355,100 Lot Size: ....................................................... 209088sf Prior Sale: .....................................$2,840,000 (11/14)

*Group sales.

22 | THE COMMERCIAL RECORD | FEBRUARY 2017

FEATURED PROPERTY 85 Willow St, New Haven.............................................................. $4,500,000 Use:.............................................................................................Industrial Building Buyer: ...............................................................................85 Willow Street Equities Seller: ............................................................................... 85 Willow Street Nh LLC Date: ........................................................................................................12/08/16 Total Assessed Value (2016): ................................................................ $3,605,000 Lot Size: .................................................................................................. 149846sf Prior Sale: ................................................................................ $1,900,000 (11/01)

NEW HAVEN 2321 Whitney Ave, Hamden......... $10,000,000* Use:............................................. Commercial Building Buyer:....................................................... HC 2 Assoc Seller: ....................................... Hamden Realty Assoc Mtg: ........................................... Ion Bank $7,500,000 Date:............................................................ 12/02/16 Total Assessed Value (2016): .....................$5,353,390 Lot Size:....................................................... 118483sf

2323 Whitney Ave, Hamden......... $10,000,000* Use:............................................. Commercial Building Buyer: ....................................................... HC 2 Assoc Seller:....................................... Hamden Realty Assoc Mtg: ........................................... Ion Bank $7,500,000 Date: ............................................................ 12/02/16 Total Assessed Value (2016): ........................$562,730 Lot Size: ......................................................... 25700sf

85 Willow St, New Haven................ $4,500,000 Use:..................................................Industrial Building Buyer: ................................... 85 Willow Street Equities Seller: ....................................85 Willow Street Nh LLC Date: ............................................................ 12/08/16 Total Assessed Value (2016): .....................$3,605,000 Lot Size: ....................................................... 149846sf Prior Sale: .....................................$1,900,000 (11/01)

Mechanic St, Stonington................ $1,070,370 Use:................................................... Commercial Use Buyer:.................................................. TL Holding LLC Seller:..................................... D Steele Properties LLC Date: ............................................................ 12/27/16 Total Assessed Value (2016): ........................$465,200 Lot Size: ........................................................... 7841sf

743 Long Hill Rd, Groton................. $550,000 Use:....................................... Retail-Department Store Buyer: ...........................................HQL Properties LLC Seller: ............................................. Wakim Realty LLC Mtg:........................... Chelsea Groton Bank $400,000 Date:............................................................ 01/04/17 Total Assessed Value (2016):........................ $356,510 Lot Size:.......................................................... 26572sf

179 Talcottville Rd, Vernon.............. $560,000 Use:............................................................. Retail-Any Buyer:.................................. 179 Talcottville Road LLC Seller: ............................................ Leonard A Battison Mtg:.......................... Iintoo Vernon Jasko $1,150,000 Date: ............................................................ 12/29/16 Total Assessed Value (2016): ........................$361,670 Lot Size:......................................................... 25700sf

36 E Main St, Stafford...................... $340,000 Use:............................................... Apartment Building Buyer:.................................................. John J Thomas Seller: ...................David Bacchiochi & Lisa Bacchiochi Date: ............................................................ 12/13/16 Total Assessed Value (2016): ........................$142,730 Lot Size: ......................................................... 27007sf Prior Sale: ..........................................$68,500 (04/01)

107 Capitol Dr, Windham................. $500,835 Use:........................................................Retail-Service Buyer: ......................... Scott E Lewis & Donna A Lewis Seller: ............................................. S&D Ventures LLC Date: ............................................................ 12/30/16 Total Assessed Value (2015):.......................... $96,740 Lot Size: ......................................................... 19602sf Prior Sale:.......................................... $75,000 (05/96)

19 Putnam Rd, Pomfret................... $500,000 Use:............................................. Commercial Building Buyer: ............................................19 Putnam Rd LLC Seller: .....................................Drake Petroleum Co Inc Mtg: ..................................... Global Co LLC $100,000 Date: ............................................................ 12/29/16 Total Assessed Value (2016): ........................$327,500 Lot Size: ....................................................... 156816sf Prior Sale:........................................ $100,000 (10/92)

NEW LONDON 355 Long Hill Rd, Groton................ $6,850,000 Use:................................... Apartment Bldg - 9 + Units Buyer:................................... Phoenix Apartments LLC Seller: ............................................................PXA LLC Date: ............................................................ 01/03/17 Total Assessed Value (2016): .....................$2,861,600 Lot Size: ....................................................... 307969sf Prior Sale: .....................................$6,850,000 (04/08)

TOLLAND 837 Boston Tpke, Bolton................. $755,000 Use:............................................. Commercial Building Buyer: .................................. Howard Road Realty LLC Seller: ...................................................... Lan Hld LLC Mtg: .........................................United Bank $600,000 Date: ............................................................ 01/06/17 Total Assessed Value (2015): ........................$882,500 Lot Size: ....................................................... 940896sf Prior Sale:.......................................... $60,000 (09/99)

WINDHAM 162 School St, Putnam.................... $560,000 Use:............................................. Commercial Building Buyer: .......................................162 School Street LLC Seller: .....................................Drake Petroleum Co Inc Mtg: ..................................... Global Co LLC $850,000 Date:............................................................ 12/29/16 Total Assessed Value (2016): ........................$334,600 Lot Size: ......................................................... 12632sf

FEBRUARY 2017 | THE COMMERCIAL RECORD | 23

TRENDLINES

FAIRFIELD COUNTY SALES REPORT

NUMBER OF SALES DEC %CHG 2015 2016 15-16 YTD

1 Family

1 6

-6.25%

180

184

2.22%

$243,500

$250,000

2.67%

$290,000

$293,750

1.29%

Condo

1 1

-36.36%

-21.05%

$307,394

$356,520

15.98%

$303,045

$280,000

-7.60%

-3.13%

326

330

1.23%

$248,500

$300,000

20.72%

$299,950

$301,420

0.49%

-2.58%

2016 YTD

MEDIAN PRICE

DEC 2015

%CHG 15-16

DEC 2015

DEC %CHG 2015 2016 15-16 YTD

2016 %CHG YTD 15-16

BETHEL

All Sales

3 2

BRIDGEPORT 1 Family

4 7

36.17%

495

579

16.97%

$175,000

$149,500

-14.57%

$154,900

$150,900

Condo

1 5

66.67%

178

279

56.74%

$90,000

$76,000

-15.56%

$68,500

$73,500

7.30%

66.30% 1,146

1,431

24.87%

$150,288

$135,000

-10.17%

$135,000

$129,250

-4.26%

All Sales

9 2

153

BROOKFIELD 1 Family

1 5

0.00%

187

199

6.42%

$400,000

$370,000

-7.50%

$362,000

$355,000

-1.93%

Condo

25.00%

18.31%

$225,000

$222,250

-1.22%

$188,000

$220,000

17.02%

2 8

21.43%

323

348

7.74%

$381,750

$329,900

-13.58%

$324,800

$310,000

-4.56%

1 Family

3 8

-5.26%

410

452

10.24%

$280,125

$284,500

1.56%

$269,450

$270,000

0.20%

Condo

1 8

133.33%

337

404

19.88%

$159,000

$232,500

46.23%

$188,500

$195,500

3.71%

1,107

8.64%

$254,950

$259,500

1.78%

$260,000

0.00%

346

284

-17.92%

$1,195,000

$1,199,000

0.33% $1,392,500

$1,287,500

-7.54%

-31.25%

All Sales

DANBURY

All Sales

8 2

12.20% 1,019

1 Family

1 3

38.46%

Condo

1 6

43.75%

417

334

-19.90%

$1,326,000

1 Family

-75.00%

105

-10.48%

$506,125

Condo

1 0

-80.00%

119

106

-10.92%

$487,500

DARIEN

All Sales

N/A

N/A $1,280,000

N/A $ 1,619,038 -3.47% $1,425,000

$1,420,000 -12.29% $1,307,500

-8.25%

$598,500

2.84%

EASTON

All Sales

N/A

N/A -100.00% N/A

N/A

N/A -100.00%

$582,000 N/A

N/A

$572,500

$578,000

N/A 0.96%

FAIRFIELD 1 Family

6 0

-11.67%

752

710

-5.59%

$581,500

$479,000

-17.63%

$560,000

$580,000

3.57%

Condo

-14.29%

8.79%

$335,000

$366,250

9.33%

$365,000

$342,000

-6.30%

7 6

-13.16%

953

922

-3.25%

$523,000

$467,500

-10.61%

$527,000

$539,000

2.28%

-12.75% $1,500,000

$1,465,000

-2.33%

All Sales

GREENWICH 1 Family

2 4

50.00%

427

365

-14.52%

$1,544,500

$1,347,500

Condo

1 0

-10.00%

150

122

-18.67%

$552,500

$658,000

4 8

20.83%

692

576

-16.76%

$1,023,500

$1,155,000

1 Family

2 6

-26.92%

202

199

-1.49%

$329,250

$299,900

Condo

-33.33%

-12.31%

$267,000

3 2

-15.63%

295

296

0.34%

$325,000

$290,000

All Sales

19.10%

$652,500

$671,650

2.93%

12.85% $1,197,500

$1,100,000

-8.14%

MONROE

All Sales

-8.91%

$342,500

$346,500

1.17%

N/A -100.00%

$202,500

$229,000

13.09%

$320,000

$325,500

1.72%

$1,420,000

-2.51%

-10.77%

NEW CANAAN 1 Family

1 1

18.18%

299

211

-29.43%

$1,365,000

$1,300,000

-4.76% $1,456,625

Condo

0.00%

9.26%

$815,000

$1,035,000

26.99%

1 5

6.67%

390

290

-25.64%

$1,140,000

$1,300,000

14.04% $1,335,000

-9.52%

181

207

14.36%

$302,001

$315,000

-87.50%

-19.23%

234

238

1.71%

$310,001

$315,000

1.61%

$319,375

$315,000

$380,000

$375,000

-1.32%

$370,000

$372,500

0.68%

N/A $338,732

$324,255

-4.27%

$367,500

1.59%

All Sales

$812,500

$630,000 -22.46% $1,303,500

-2.36%

$325,000

-3.53%

NEW FAIRFIELD 1 Family

2 1

Condo

2 6

All Sales

N/A

4.30%

$336,900

N/A $299,950

$245,000 -18.32% -1.37%

NEWTOWN 1 Family

1 9

84.21%

351

383

9.12%

Condo

100.00%

28.57%

2 5

84.00%

434

487

12.21%

All Sales

24 | THE COMMERCIAL RECORD | FEBRUARY 2017

N/A $365,000

$273,950 $355,500

-2.60%

$361,750

Real estate & credit transactions updated every Thursday

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NUMBER OF SALES DEC 2015

DEC %CHG 2015 2016 15-16 YTD

2016 YTD

MEDIAN PRICE %CHG 15-16

DEC 2015

DEC %CHG 2015 2016 15-16 YTD

2016 %CHG YTD 15-16

NORWALK 1 Family

5 9

8.47%

664

663

-0.15%

$410,000

$475,000

15.85%

$441,250

$431,000

-2.32%

Condo

2 5

44.00%

331

351

6.04%

$215,000

$211,250

-1.74%

$265,000

$259,900

-1.92%

23.96% 1,156

1,203

4.07%

$342,500

$385,000

12.41%

$373,000

$380,000

1.88%

117

115

-1.71%

$560,000

$508,500

-9.20%

$512,500

$523,000

2.05%

-40.00%

134

139

All Sales

9 6

119

1 Family

Condo

1 0

REDDING

All Sales

-25.00% N/A

N/A

$264,500

N/A

3.73%

$560,000

$508,500

-9.20%

$513,750

$510,000

-0.73%

$542,500

$590,000

8.76%

$640,000

$625,000

-2.34%

N/A $223,500

$237,500

6.26% 0.93%

RIDGEFIELD 1 Family

2 4

37.50%

317

339

6.94%

Condo

100.00%

-5.71%

2 8

42.86%

418

438

4.78%

$507,750

$575,500

13.34%

$589,500

$595,000

1 Family

2 7

7.41%

336

358

6.55%

$309,000

$305,000

-1.29%

$300,000

$320,000

6.67%

Condo

1 4

-7.14%

166

156

-6.02%

$209,750

$215,000

2.50%

$258,000

$249,950

-3.12%

2.04%

587

617

5.11%

$256,000

$282,500

10.35%

$295,000

$306,500

3.90%

200.00%

-8.47%

N/A $435,000

$392,450

-9.78%

250.00%

All Sales

N/A

SHELTON

All Sales

4 9

SHERMAN 1 Family

Condo

All Sales

N/A

N/A -1.56%

N/A N/A N/A

$371,500 N/A $360,000

N/A

N/A $415,000

N/A

$368,800 -11.13%

STAMFORD 1 Family

7 1

-5.63%

704

713

1.28%

$538,500

$520,000

-3.44%

$554,000

$552,000

Condo

4 7

10.64%

548

659

20.26%

$235,000

$275,500

17.23%

$293,500

$309,000

5.28%

1 41

145

2.84% 1,505

1,683

11.83%

$452,000

$445,000

-1.55%

$435,000

$432,250

-0.63%

All Sales

-0.36%

STRATFORD 1 Family

6 0

-15.00%

535

620

15.89%

$212,450

$242,500

14.14%

$225,000

$229,700

2.09%

Condo

1 0

110.00%

158

166

5.06%

$140,000

$180,000

28.57%

$178,000

$170,000

-4.49%

12.50%

842

960

14.01%

$196,950

$220,000

11.70%

$212,250

0.00%

All Sales

8 8

TRUMBULL 1 Family

2 3

78.26%

391

518

32.48%

$320,000

$367,000

14.69%

$355,000

$360,000

1.41%

Condo

0.00%

$236,000

$466,000

97.46%

$320,000

$310,000

-3.13%

2 7

70.37%

462

577

24.89%

$317,600

$356,000

12.09%

$350,000

$355,000

1.43%

1 Family

1 5

-40.00%

167

0.00%

$975,000

$880,000

-9.74%

$819,900

$780,000

-4.87%

Condo

1 6

-43.75%

185

178

All Sales

WESTON

All Sales

N/A

-3.78%

$930,000

$880,000

$1,000,000

N/A -5.38%

N/A

$807,600

$760,000

-39.62% $1,187,500

N/A -5.89%

WESTPORT 1 Family

2 6

-11.54%

373

347

-6.97%

$1,656,250

Condo

-33.33%

-11.54%

$740,000

3 3

-6.06%

458

423

-7.64%

$1,122,000

$1,000,000

1 Family

1 0

80.00%

212

220

3.77%

$574,750

$782,500

Condo

-11.76%

1 3

274

276

0.73%

$655,000

$680,000

3.82%

$778,500

$719,500

-7.58%

All Sales

$1,229,000

3.49%

$636,375

$635,000

-0.22%

-10.87% $1,100,000

$1,150,000

4.55%

$779,500

-4.94%

N/A -100.00%

WILTON

All Sales

N/A 92.31%

N/A

36.15%

$820,000

N/A $398,500

$338,250 -15.12%

FAIRFIELD COUNTY 1 Family

6 23

672

7.87% 7,810

7,981

2.19%

$395,000

$400,000

1.27%

$455,000

$425,000

-6.59%

Condo

1 80

240

33.33% 2,500

2,739

9.56%

$219,000

$229,000

4.57%

$265,000

$252,000

-4.91%

1,146

16.35% 12,433

13,022

4.74%

$345,000

$340,000

-1.45%

$380,000

$360,000

-5.26%

All Sales

9 85

FEBRUARY 2017 | THE COMMERCIAL RECORD | 25

TRENDLINES

HARTFORD COUNTY SALES REPORT

NUMBER OF SALES DEC 2015

DEC %CHG 2015 2016 15-16 YTD

1 9 1 6 3 9

22 13 41

15.79% -18.75% 5.13%

235 149 422

1 1 2 1 6

13 7 24

18.18% 250.00% 50.00%

2 1 7 3 0

18 7 29

4 5 1 5 7 2

2016 YTD

MEDIAN PRICE %CHG 15-16

DEC 2015

DEC %CHG 2015 2016 15-16 YTD

245 117 395

4.26% -21.48% -6.40%

$425,000 $153,500 $250,000

$365,000 $240,000 $258,000

172 50 270

175 52 262

1.74% 4.00% -2.96%

$220,000 N/A $247,500

$235,000 $187,900 $239,250

-14.29% 0.00% -3.33%

237 63 334

253 64 350

6.75% 1.59% 4.79%

$184,900 $350,000 $207,500

$199,000 $270,000 $203,000

7.63% -22.86% -2.17%

49 14 83

8.89% -6.67% 15.28%

501 104 741

560 123 858

11.78% 18.27% 15.79%

$169,000 $65,000 $148,700

$180,000 $107,313 $173,000

6.51% 65.10% 16.34%

1 3 0 1 5

10 0 15

-23.08% N/A 0.00%

122 1 142

114 3 146

-6.56% 200.00% 2.82%

$325,000 N/A $380,000

1 0 3 1 5

6 6 14

-40.00% 100.00% -6.67%

106 42 176

116 43 178

9.43% 2.38% 1.14%

6 1 9

0.00% 0.00% 28.57%

57 11 76

79 12 103

40 2 53

25.00% -66.67% 6.00%

434 46 618

1 0 5 2 1

9 3 17

-10.00% -40.00% -19.05%

5 0 5 6 1

40 8 51

2016 %CHG YTD 15-16

AVON 1 Family Condo All Sales

-14.12% 56.35% 3.20%

$445,000 $205,000 $330,000

$393,000 -11.69% $212,000 3.41% $324,500 -1.67%

BERLIN 1 Family Condo All Sales

6.82% $255,000 N/A $247,000 -3.33% $249,500

$242,500 $230,500 $238,500

-4.90% -6.68% -4.41%

$177,000 $185,000 $181,000

$178,100 $235,000 $195,000

0.62% 27.03% 7.73%

$176,000 $103,250 $165,000

$175,000 $106,000 $164,400

-0.57% 2.66% -0.36%

$260,500 -19.85% $301,500 N/A N/A N/A $276,000 -27.37% $300,000

$273,000 $246,000 $287,500

-9.45% N/A -4.17%

$301,000 $170,000 $259,000

$331,750 $157,500 $215,950

$318,250 5.38% $149,900 -22.43% $269,450 -4.11%

38.60% 9.09% 35.53%

$264,000 N/A $277,000

$236,250 -10.51% $250,000 N/A N/A $144,900 $232,500 -16.06% $253,250

$255,000 $146,000 $243,000

2.00% 0.76% -4.05%

503 49 695

15.90% 6.52% 12.46%

$132,500 $130,588 $128,500

$153,000 15.47% N/A -100.00% $149,000 15.95%

$134,450 $54,250 $132,000

$146,500 $84,000 $142,000

8.96% 54.84% 7.58%

97 46 189

99 39 195

2.06% -15.22% 3.17%

$176,250 $143,000 $162,500

$153,900 $140,000 $140,000

-12.68% -2.10% -13.85%

$185,000 $154,200 $162,000

$205,500 $148,000 $165,000

11.08% -4.02% 1.85%

-20.00% 60.00% -16.39%

484 113 658

474 112 674

-2.07% -0.88% 2.43%

$157,500 $125,900 $152,000

$165,000 $128,950 $155,900

4.76% 2.42% 2.57%

$165,000 $137,000 $160,000

$168,250 $135,000 $163,250

1.97% -1.46% 2.03%

25 16 44

38.89% 77.78% 41.94%

215 163 428

247 183 473

14.88% 12.27% 10.51%

$305,000 $189,000 $267,500

$369,500 $171,000 $290,250

21.15% -9.52% 8.50%

$345,000 $186,995 $274,250

$346,000 $180,000 $265,000

0.29% -3.74% -3.37%

4 3 9 5 6

31 7 43

-27.91% -22.22% -23.21%

407 133 608

454 135 654

11.55% 1.50% 7.57%

$325,000 $191,000 $284,350

$319,000 $225,000 $291,000

-1.85% 17.80% 2.34%

$350,000 $169,900 $300,000

$342,000 $171,000 $303,750

-2.29% 0.65% 1.25%

1 3 0 1 6

3 1 4

-76.92% N/A -75.00%

155 19 200

140 14 186

-9.68% -26.32% -7.00%

$322,000 N/A $325,950

$226,000 -29.81% $279,000 N/A N/A $174,900 $248,000 -23.91% $264,000

$269,750 $185,250 $262,000

-3.32% 5.92% -0.76%

29 7 69

3.57% -22.22% -8.00%

256 109 744

284 102 819

10.94% -6.42% 10.08%

$111,200 $30,000 $128,000

$129,000 16.01% $65,100 117.00% $131,000 2.34%

$123,250 $50,000 $131,800

13.07% -7.41% 14.61%

3 0 3

200.00% N/A 200.00%

20 0 21

14 0 15

-30.00% N/A -28.57%

BLOOMFIELD 1 Family Condo All Sales

BRISTOL 1 Family Condo All Sales

BURLINGTON 1 Family Condo All Sales

CANTON 1 Family Condo All Sales

10.22% -7.35% -16.62%

$302,000 $193,250 $281,000

EAST GRANBY 1 Family Condo All Sales

6 1 7

EAST HARTFORD 1 Family Condo All Sales

3 2 6 5 0

EAST WINDSOR 1 Family Condo All Sales

ENFIELD 1 Family Condo All Sales

FARMINGTON 1 Family Condo All Sales

1 8 9 3 1

GLASTONBURY 1 Family Condo All Sales

GRANBY 1 Family Condo All Sales

HARTFORD 1 Family Condo All Sales

2 8 9 7 5

$109,000 $54,000 $115,000

HARTLAND 1 Family Condo All Sales

1 0 1

26 | THE COMMERCIAL RECORD | FEBRUARY 2017

N/A N/A N/A

$260,000 N/A $260,000

N/A $235,000 N/A N/A N/A $255,000

$257,500 9.57% N/A N/A $255,000 0.00%

Real estate & credit transactions updated every Thursday

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NUMBER OF SALES DEC 2015

DEC %CHG 2015 2016 15-16 YTD

2016 YTD

MEDIAN PRICE %CHG 15-16

DEC 2015

DEC %CHG 2015 2016 15-16 YTD

2016 %CHG YTD 15-16

MANCHESTER 1 Family Condo All Sales

5 0 8 7 2

46 11 70

-8.00% 37.50% -2.78%

496 95 715

566 104 837

14.11% 9.47% 17.06%

$156,500 $119,450 $156,500

$178,950 $56,500 $161,500

11 0 11

175.00% N/A 57.14%

75 9 103

86 3 96

41 6 76

24.24% 0.00% 16.92%

364 74 686

30 11 44

57.89% -15.38% 12.82%

23 8 35

14.35% -52.70% 3.19%

$160,000 $118,000 $156,500

$167,750 4.84% $99,000 -16.10% $164,000 4.79%

14.67% -66.67% -6.80%

$308,750 N/A $322,500

$247,000 -20.00% $270,000 N/A N/A $203,000 $247,000 -23.41% $236,000

$269,650 $214,500 $265,000

418 65 787

14.84% -12.16% 14.72%

$119,900 $135,000 $132,500

$113,000 $146,000 $124,950

-5.75% 8.15% -5.70%

$128,000 $79,900 $128,000

$135,000 5.47% $65,100 -18.52% $133,000 3.91%

280 129 463

294 162 502

5.00% 25.58% 8.42%

$215,000 $134,000 $190,000

$208,250 $140,000 $186,500

-3.14% 4.48% -1.84%

$210,000 $137,000 $195,000

$209,900 $135,200 $190,000

64.29% 60.00% 66.67%

161 58 258

163 56 269

1.24% -3.45% 4.26%

$153,500 $103,000 $129,950

$185,500 $149,500 $185,500

20.85% 45.15% 42.75%

$179,000 $141,500 $175,000

$181,400 1.34% $124,125 -12.28% $175,000 0.00%

6 11 20

-25.00% -42.11% -37.50%

118 122 271

132 158 327

11.86% 29.51% 20.66%

$259,500 $146,500 $170,000

$219,500 $165,500 $172,000

-15.41% 12.97% 1.18%

$240,000 $164,950 $192,500

$282,500 $165,000 $215,000

17.71% 0.03% 11.69%

25 8 35

0.00% 0.00% -7.89%

301 78 407

372 75 467

23.59% -3.85% 14.74%

$286,250 $190,950 $285,625

$320,000 $175,000 $302,500

11.79% -8.35% 5.91%

$309,818 $165,250 $293,117

$315,500 $161,500 $300,000

1.83% -2.27% 2.35%

31 15 50

40.91% 25.00% 28.21%

231 121 387

273 125 436

18.18% 3.31% 12.66%

$216,000 $135,000 $205,000

$262,500 $182,000 $220,000

21.53% 34.81% 7.32%

$255,000 $154,000 $234,000

$261,000 $168,000 $229,750

2.35% 9.09% -1.82%

3 7 1 2 6 4

41 10 67

10.81% -16.67% 4.69%

364 95 579

417 102 638

14.56% 7.37% 10.19%

$258,000 $180,750 $248,500

$240,000 $186,000 $235,000

-6.98% 2.90% -5.43%

$248,250 $175,000 $235,000

$265,000 $162,500 $240,000

6.75% -7.14% 2.13%

1 3 1 2 0

9 6 21

-30.77% 500.00% 5.00%

134 38 222

143 54 249

6.72% 42.11% 12.16%

$243,800 N/A $253,150

$415,000 $172,450 $195,000

70.22% $277,950 N/A $149,950 -22.97% $267,750

$300,000 $174,500 $250,000

7.93% 16.37% -6.63%

40 7 58

-42.86% -50.00% -38.30%

714 141 945

770 127 1,014

7.84% -9.93% 7.30%

$279,950 $212,275 $277,450

$274,000 $227,000 $279,000

-2.13% 6.94% 0.56%

3 3 2 3 8

40 3 48

21.21% 50.00% 26.32%

326 59 430

400 48 482

22.70% -18.64% 12.09%

$230,000 N/A $214,500

$220,000 $138,000 $220,000

-4.35% $224,300 N/A $141,000 2.56% $210,000

$227,050 $129,500 $221,750

1.23% -8.16% 5.60%

2 8 6 3 9

21 5 31

-25.00% -16.67% -20.51%

296 55 401

336 70 466

13.51% 27.27% 16.21%

$194,450 $196,500 $194,000

$198,790 $280,000 $219,900

2.23% 42.49% 13.35%

$186,950 $189,900 $189,900

$191,000 $184,500 $189,950

2.17% -2.84% 0.03%

8 3 13

-33.33% N/A -7.14%

133 33 204

137 35 214

3.01% 6.06% 4.90%

$152,250 N/A $148,500

$148,250 $157,000 $157,000

-2.63% $157,000 N/A $124,000 5.72% $155,250

$165,500 $133,000 $167,750

5.41% 7.26% 8.05%

-1.74% 7,491 1.55% 2,156 -0.83% 11,698

8,264 2,232 12,787

10.32% 3.53% 9.31%

$205,000 $145,500 $186,995

$210,000 $162,500 $195,680

2.44% 11.68% 4.64%

$217,500 $150,000 $199,000

3.57% -3.23% 3.38%

MARLBOROUGH 1 Family Condo All Sales

4 0 7

-0.13% 5.67% 12.29%

NEW BRITAIN 1 Family Condo All Sales

3 3 6 6 5

NEWINGTON 1 Family Condo All Sales

1 9 1 3 3 9

-0.05% -1.31% -2.56%

PLAINVILLE 1 Family Condo All Sales

1 4 5 2 1

ROCKY HILL 1 Family Condo All Sales

8 1 9 3 2

SIMSBURY 1 Family Condo All Sales

2 5 8 3 8

SOUTH WINDSOR 1 Family Condo All Sales

2 2 1 2 3 9

SOUTHINGTON 1 Family Condo All Sales

SUFFIELD 1 Family Condo All Sales

WEST HARTFORD 1 Family Condo All Sales

7 0 1 4 9 4

$295,813 $237,500 $289,000

$299,000 1.08% $212,500 -10.53% $287,250 -0.61%

WETHERSFIELD 1 Family Condo All Sales

WINDSOR 1 Family Condo All Sales

WINDSOR LOCKS 1 Family Condo All Sales

1 2 0 1 4

HARTFORD COUNTY 1 Family Condo All Sales

6 88 676 1 93 196 1 ,087 1,078

$210,000 $155,000 $192,500

FEBRUARY 2017 | THE COMMERCIAL RECORD | 27

TRENDLINES

LITCHFIELD COUNTY SALES REPORT

NUMBER OF SALES DEC 2015

DEC %CHG 2015 2016 15-16 YTD

2016 YTD

MEDIAN PRICE %CHG 15-16

DEC 2015

DEC %CHG 2015 2016 15-16 YTD

2016 %CHG YTD 15-16

BARKHAMSTED 1 Family Condo All Sales

1 0 1

4 0 5

300.00% N/A 400.00%

40 0 50

34 0 46

-15.00% N/A -8.00%

N/A N/A N/A

$300,750 N/A $343,500

N/A $227,500 N/A N/A N/A $213,750

$257,750 13.30% N/A N/A $258,000 20.70%

4 0 5

100.00% N/A 150.00%

34 0 40

33 0 46

-2.94% N/A 15.00%

N/A N/A N/A

$207,500 N/A $200,000

N/A $253,500 N/A N/A N/A $251,000

$250,000 -1.38% N/A N/A $249,100 -0.76%

BETHLEHEM 1 Family Condo All Sales

2 0 2

BRIDGEWATER 1 Family Condo All Sales

3 1 4

2 -33.33% 0 -100.00% 3 -25.00%

25 3 34

24 0 36

-4.00% -100.00% 5.88%

$1,050,000 N/A $908,750

2 0 2

0 -100.00% 0 N/A 1 -50.00%

10 0 16

14 0 20

40.00% N/A 25.00%

N/A N/A N/A

0 -100.00% 0 N/A 0 -100.00%

16 0 22

21 0 24

31.25% N/A 9.09%

5 0 5

1 0 3

-80.00% N/A -40.00%

15 0 24

17 0 25

4 0 4

4 0 5

0.00% N/A 25.00%

54 0 73

60 1 78

5 0 5

4 0 5

-20.00% N/A 0.00%

61 2 93

74 1 99

1 3 4

4 300.00% 0 -100.00% 5 25.00%

34 13 58

N/A -100.00% $492,450 N/A N/A $202,000 $280,000 -69.19% $481,225

$330,000 -32.99% N/A - 100.00% $330,000 -31.43%

CANAAN 1 Family Condo All Sales

N/A N/A N/A

N/A $262,000 N/A N/A N/A $262,000

$215,000 -17.94% N/A N/A $209,500 -20.04%

N/A N/A $231,750

N/A N/A $190,000 N/A N/A N/A N/A -100.00% $218,000

$199,500 5.00% N/A N/A $212,800 -2.39%

13.33% N/A 4.17%

$160,000 N/A $160,000

N/A -100.00% $220,000 N/A N/A N/A $170,000 6.25% $158,500

$300,000 36.36% N/A N/A $300,000 89.27%

11.11% N/A 6.85%

$467,500 N/A $467,500

$368,725 -21.13% $317,500 N/A N/A N/A $235,000 -49.73% $300,000

$303,250 -4.49% N/A N/A $300,000 0.00%

21.31% -50.00% 6.45%

$261,000 N/A $261,000

$222,500 -14.75% $224,000 N/A N/A N/A $280,000 7.28% $205,000

$264,000 17.86% N/A N/A $255,000 24.39%

33 8 59

-2.94% -38.46% 1.72%

N/A $155,000 $167,500

$452,500 N/A $332,500 N/A -100.00% $165,000 $485,000 189.55% $253,000

$345,000 $174,950 $303,500

$241,500 N/A $230,000

$202,500 -16.15% $285,000 N/A N/A $336,552 $210,000 -8.70% $272,000

$285,000 0.00% $257,250 -23.56% $305,000 12.13%

$245,000 N/A $245,000

$246,000 -6.46% N/A N/A $235,000 -5.81%

COLEBROOK 1 Family Condo All Sales

2 0 4

CORNWALL 1 Family Condo All Sales

GOSHEN 1 Family Condo All Sales

HARWINTON 1 Family Condo All Sales

KENT 1 Family Condo All Sales

3.76% 6.03% 19.96%

LITCHFIELD 1 Family Condo All Sales

6 0 1 1

8 0 11

33.33% N/A 0.00%

62 9 119

81 14 135

30.65% 55.56% 13.45%

1 0 1

5 0 7

400.00% N/A 600.00%

35 0 44

20 0 32

-42.86% N/A -27.27%

MORRIS 1 Family Condo All Sales

N/A N/A N/A

N/A $263,000 N/A N/A N/A $249,500

NEW HARTFORD 1 Family Condo All Sales

1 3 1 1 6

5 3 10

-61.54% 200.00% -37.50%

86 8 117

61 11 99

-29.07% 37.50% -15.38%

$248,000 N/A $237,400

$230,000 $73,000 $196,000

-7.26% $231,975 N/A $99,375 -17.44% $217,000

$260,000 $102,000 $206,000

12.08% 2.64% -5.07%

34 11 61

41.67% 10.00% 38.64%

279 89 441

316 73 487

13.26% -17.98% 10.43%

$288,500 $138,500 $262,500

$247,500 $97,000 $227,000

-14.21% -29.96% -13.52%

$270,000 $135,000 $240,500

-3.57% 10.66% 2.34%

21 0 28

20 0 30

NEW MILFORD 1 Family Condo All Sales

2 4 1 0 4 4

$280,000 $122,000 $235,000

NORFOLK 1 Family Condo All Sales

1 0 2

0 -100.00% 0 N/A 0 -100.00%

-4.76% N/A 7.14%

28 | THE COMMERCIAL RECORD | FEBRUARY 2017

N/A N/A N/A

N/A $233,000 N/A N/A N/A $212,500

$198,250 -14.91% N/A N/A $200,000 -5.88%

Real estate & credit transactions updated every Thursday

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NUMBER OF SALES DEC 2015

DEC %CHG 2015 2016 15-16 YTD

2016 YTD

MEDIAN PRICE %CHG 15-16

DEC 2015

DEC %CHG 2015 2016 15-16 YTD

2016 %CHG YTD 15-16

NORTH CANAAN 1 Family

Condo

All Sales

150.00%

350.00%

68.57%

N/A

68.18% N/A

N/A

$175,000

N/A

$98,000

N/A

$140,000

N/A $130,156 N/A

N/A

N/A $134,400

$160,000

22.93%

$89,000

N/A

$150,000

11.61%

$166,500

4.06%

PLYMOUTH 1 Family

250.00%

123

36.67%

Condo

-50.00%

40.00%

185.71%

126

169

34.13%

$140,000

$168,950

20.68%

$150,750

$157,000

1 Family

-42.86%

-7.69%

$735,000

$850,000

15.65%

$545,000

$483,500 -11.28%

Condo

-28.57%

-42.86%

37 1

All Sales

$159,500 N/A

$177,950 N/A

11.57%

$160,000

N/A $116,500

$93,950 -19.36% 4.15%

ROXBURY

All Sales

N/A

-3.77%

$735,000

$700,000

-4.76%

$450,000

0.00%

32.43%

$595,000

$368,500

-38.07%

$500,000

$420,000 -16.00%

300.00% 32.69%

$860,000

$368,500

-57.15%

$449,100

$370,000 -17.61%

$275,000

$532,500

93.64%

$290,000

$331,250

SALISBURY 1 Family

Condo

-50.00%

1 Family

33.33%

29.73%

Condo

100.00%

22.22%

$275,000

$339,500

23.45%

$281,250

$315,000

12.00%

$211,600

$204,300

-3.45%

$201,500

$210,000

4.22%

All Sales

N/A

$317,750

N/A

SHARON

All Sales

N/A

14.22% N/A

THOMASTON 1 Family

1 1

-54.55%

-5.17%

Condo

-50.00%

30.00%

1 6

-50.00%

-5.62%

$208,300

$194,650

-6.55%

$188,000

$187,500

-0.27%

$131,369

4.68%

All Sales

N/A

$92,000

$80,000 -13.04%

TORRINGTON 1 Family

3 7

-18.92%

322

384

19.25%

$135,000

$117,500

-12.96%

$125,500

Condo

80.00%

30.26%

$92,500

$99,000

7.03%

$77,750

5 2

-3.85%

487

615

26.28%

$132,500

$108,000

-18.49%

$114,050

1 Family

0.00%

11.11%

Condo

0.00%

41.67%

-60.00%

-10.17%

-71.43% -18.89%

$410,000

$220,000

-46.34%

$458,500

$420,000

All Sales

$67,500 -13.18% $112,500

-1.36%

WARREN

All Sales

N/A

N/A $267,500

N/A

N/A $267,500

N/A

$567,500 112.15% N/A

N/A

$309,250

15.61%

$500,000

7.53%

WASHINGTON 1 Family

Condo

-16.67%

All Sales

N/A

$465,000 N/A

N/A -100.00% N/A

$465,000

N/A $250,000

N/A -100.00% -8.40%

WATERTOWN 1 Family

1 3

61.54%

230

228

-0.87%

$185,000

$205,000

10.81%

$195,000

$190,000

-2.56%

Condo

66.67%

43.48%

$159,000

$210,000

32.08%

$145,000

$165,000

13.79%

1 9

73.68%

315

332

5.40%

$191,000

$217,500

13.87%

$182,000

$185,000

1.65%

$132,450

$257,000

94.04%

$135,000

$152,000

12.59%

$55,000

$69,500

26.36% 4.23%

All Sales

WINCHESTER 1 Family

-62.50%

108

106

-1.85%

Condo

0 -100.00%

14.29% 11.11%

$117,000

$149,000

27.35%

$130,000

$135,500

$307,500

$338,500

10.08%

$292,000

$317,500

8.73%

N/A $108,250

$130,000

20.09% 6.72%

All Sales

1 4

-64.29%

144

160

N/A

WOODBURY 1 Family

1 1

-27.27%

8.79%

Condo

0.00%

-29.17%

1 4

-14.29%

162

169

4.32%

$252,000

$205,000

-1.68% 1,883

All Sales

N/A

-18.65%

$253,000

$270,000

LITCHFIELD COUNTY 1 Family

1 79

176

Condo

3 0

2 54

279

All Sales

2,046

8.66%

$226,000

$214,950

-4.89%

$217,000

$219,900

1.34%

307

321

4.56%

$129,950

$100,000

-23.05%

$108,500

$108,000

-0.46%

9.84% 2,790

3,097

11.00%

$199,500

$190,800

-4.36%

$191,750

$193,500

0.91%

23.33%

FEBRUARY 2017 | THE COMMERCIAL RECORD | 29

TRENDLINES

MIDDLESEX COUNTY SALES REPORT

NUMBER OF SALES DEC 2015

DEC %CHG 2015 2016 15-16 YTD

2016 YTD

MEDIAN PRICE %CHG 15-16

DEC 2015

DEC %CHG 2015 2016 15-16 YTD

2016 %CHG YTD 15-16

CHESTER 1 Family Condo All Sales

4 0 5

0 -100.00% 0 N/A 0 -100.00%

49 2 57

46 0 53

-6.12% -100.00% -7.02%

$265,000 N/A $235,000

N/A -100.00% $295,000 N/A N/A N/A N/A -100.00% $293,500

$262,000 -11.19% N/A N/A $250,125 -14.78%

CLINTON 1 Family Condo All Sales

1 3 1 1 7

9 4 19

-30.77% 300.00% 11.76%

171 23 223

174 39 256

1.75% 69.57% 14.80%

$232,700 N/A $232,700

$275,000 $141,000 $218,000

7 13 24

75.00% 160.00% 84.62%

102 113 261

115 128 285

12.75% 13.27% 9.20%

$306,500 $90,000 $195,000

$270,000 $132,000 $173,250

18.18% $255,000 N/A $147,500 -6.32% $240,000

$259,950 $151,500 $235,000

1.94% 2.71% -2.08%

$220,000 $125,800 $175,000

$255,000 $132,000 $180,000

15.91% 4.93% 2.86% 1.51% -2.28% 4.87%

CROMWELL 1 Family Condo All Sales

4 5 1 3

-11.91% 46.67% -11.15%

DEEP RIVER 1 Family Condo All Sales

7 0 8

2 1 3

-71.43% N/A -62.50%

47 8 62

56 9 73

19.15% 12.50% 17.74%

$329,900 N/A $289,450

N/A -100.00% $232,000 N/A N/A $141,225 $300,000 3.64% $224,000

$235,500 $138,000 $234,900

9 0 1 0

10 1 15

11.11% N/A 50.00%

64 7 82

89 6 113

39.06% -14.29% 37.80%

$260,000 N/A $257,500

$252,500 N/A $270,000

$273,000 -8.08% $183,000 -20.09% $273,000 -3.86%

15 0 16

50.00% N/A -23.81%

107 5 157

135 4 169

26.17% -20.00% 7.64%

$307,000 N/A $275,000

$209,900 -31.63% $216,000 N/A N/A $150,000 $217,950 -20.75% $205,000

$238,500 $216,839 $228,000

10.42% 44.56% 11.22%

1 0 3 1 4

10 1 15

0.00% -66.67% 7.14%

165 29 215

159 15 212

-3.64% -48.28% -1.40%

$267,250 $134,900 $247,250

$282,500 5.71% N/A -100.00% $191,500 -22.55%

$264,900 $142,500 $252,500

9.51% -2.40% 10.26%

6 1 1 1

7 2 14

16.67% 100.00% 27.27%

69 15 109

87 19 127

26.09% 26.67% 16.51%

$282,000 N/A $262,000

$625,000 121.63% $369,500 N/A N/A $222,000 $475,000 81.30% $295,000

$318,000 -13.94% $215,000 -3.15% $288,000 -2.37%

9 0 1 3

9 0 10

0.00% N/A -23.08%

75 0 106

115 0 136

53.33% N/A 28.30%

$280,000 N/A $280,000

$305,000 N/A $302,500

8.93% $255,000 N/A N/A 8.04% $237,000

$265,000 3.92% N/A N/A $254,450 7.36%

9 0 9

125.00% N/A 125.00%

67 0 74

93 0 100

38.81% N/A 35.14%

$325,000 N/A $325,000

$290,000 -10.77% $355,000 N/A N/A N/A $290,000 -10.77% $357,500

$315,000 -11.27% N/A N/A $317,450 -11.20%

4 1 7

100.00% N/A 250.00%

46 4 57

54 5 76

17.39% 25.00% 33.33%

$203,000 N/A $250,000

$250,000 2.04% $182,000 -36.52% $249,950 4.15%

DURHAM 1 Family Condo All Sales

-2.88% $297,000 N/A $229,000 4.85% $283,950

EAST HADDAM 1 Family Condo All Sales

1 0 0 2 1

EAST HAMPTON 1 Family Condo All Sales

$241,900 $146,000 $229,000

ESSEX 1 Family Condo All Sales

HADDAM 1 Family Condo All Sales

KILLINGWORTH 1 Family Condo All Sales

4 0 4

MIDDLEFIELD 1 Family Condo All Sales

2 0 2

N/A N/A N/A

N/A $245,000 N/A $286,726 N/A $240,000

MIDDLETOWN 1 Family Condo All Sales

2 8 8 4 0

35 17 60

25.00% 112.50% 50.00%

333 118 524

330 146 572

-0.90% 23.73% 9.16%

$175,000 $97,000 $161,000

$193,000 $100,000 $163,950

10.29% 3.09% 1.83%

$193,500 $114,000 $169,450

$210,000 $103,250 $170,000

8.53% -9.43% 0.32%

8 3 12

-38.46% 200.00% -50.00%

195 26 257

145 17 211

-25.64% -34.62% -17.90%

$355,000 N/A $265,000

$390,000 $365,000 $365,000

9.86% $340,000 N/A $347,000 37.74% $330,000

$366,000 $360,000 $350,000

7.65% 3.75% 6.06%

107 19 152

106 19 163

-0.93% 0.00% 7.24%

$193,100 N/A $191,050

$192,250 N/A $187,500

-0.44% $202,000 N/A $170,000 -1.86% $198,750

$229,500 $189,500 $211,275

13.61% 11.47% 6.30%

OLD SAYBROOK 1 Family Condo All Sales

1 3 1 2 4

PORTLAND 1 Family Condo All Sales

9 0 1 0

10 1 15

11.11% N/A 50.00%

30 | THE COMMERCIAL RECORD | FEBRUARY 2017

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NUMBER OF SALES DEC 2015

DEC %CHG 2015 2016 15-16 YTD

MEDIAN PRICE

2016 YTD

%CHG 15-16

DEC 2015

DEC %CHG 2015 2016 15-16 YTD

2016 %CHG YTD 15-16

15 1 30

62 6 118

313.33% 500.00% 293.33%

$340,000 N/A $340,000

$225,000 -33.82% $325,000 N/A N/A N/A $225,150 -33.78% $195,000

$280,500 -13.69% $360,950 N/A $255,250 30.90%

5.19% 1,612 131.58% 370 16.08% 2,366

1,766 413 2,664

9.55% 11.62% 12.60%

$260,000 $104,000 $245,000

$247,500 $121,000 $217,000

$259,900 $130,000 $232,500

WESTBROOK 1 Family Condo All Sales

7 0 7

7 0 12

0.00% N/A 71.43%

MIDDLESEX COUNTY 1 Family Condo All Sales

1 35 1 9 1 99

142 44 231

-4.81% 16.35% -11.43%

$249,900 $135,000 $228,450

4.00% -3.70% 1.77%

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FEBRUARY 2017 | THE COMMERCIAL RECORD | 31

TRENDLINES

NEW HAVEN COUNTY SALES REPORT

NUMBER OF SALES DEC 2015

DEC %CHG 2015 2016 15-16 YTD

2016 YTD

MEDIAN PRICE %CHG 15-16

DEC 2015

DEC %CHG 2015 2016 15-16 YTD

2016 %CHG YTD 15-16

ANSONIA 1 Family Condo All Sales

9 1 1 2

12 33.33% 0 -100.00% 15 25.00%

128 4 209

160 7 243

25.00% 75.00% 16.27%

$166,500 N/A $167,500

$155,250 N/A $158,000

20.83% 15.00% 15.38%

$287,500 $463,659 $386,500

$272,500 $135,900 $229,500

-6.76% $167,000 N/A $97,600 -5.67% $160,550

$175,000 $135,000 $170,000

4.79% 38.32% 5.89%

$236,000 $308,699 $250,000

7.52% -2.77% 0.40%

BEACON FALLS 1 Family Condo All Sales

5 4 1 2

5 3 13

0.00% -25.00% 8.33%

48 20 91

58 23 105

-5.22% -70.69% -40.62%

$219,500 $317,488 $249,000

1 0 2

3 0 7

200.00% N/A 250.00%

40 0 45

63 0 76

22 16 48

29.41% -27.27% -2.04%

208 194 483

228 164 477

9.62% -15.46% -1.24%

$295,000 $125,000 $213,000

$321,875 $125,000 $210,000

9.11% 0.00% -1.41%

$315,975 $147,775 $234,000

$317,000 $152,000 $229,000

0.32% 2.86% -2.14%

1 7 6 2 8

24 4 35

41.18% -33.33% 25.00%

304 64 411

296 71 426

-2.63% 10.94% 3.65%

$279,900 $155,700 $269,250

$352,500 $207,500 $315,000

25.94% 33.27% 16.99%

$315,000 $152,750 $288,000

$305,000 $159,900 $283,750

-3.17% 4.68% -1.48%

4 3 1 1

9 8 21

125.00% 166.67% 90.91%

79 37 161

87 43 188

10.13% 16.22% 16.77%

$188,500 $132,000 $153,900

$178,000 $108,500 $155,000

-5.57% -17.80% 0.71%

$161,000 $130,000 $138,600

$180,000 $125,000 $153,199

11.80% -3.85% 10.53%

31 9 46

19.23% 125.00% 48.39%

283 74 392

306 106 464

8.13% 43.24% 18.37%

$170,450 $162,500 $170,000

$179,900 $212,000 $183,500

5.54% 30.46% 7.94%

$178,000 $126,750 $174,000

$179,950 $137,500 $175,500

1.10% 8.48% 0.86%

3 2 2 3 8

23 1 28

-28.13% -50.00% -26.32%

273 33 348

293 29 364

7.33% -12.12% 4.60%

$312,450 N/A $309,950

$370,000 18.42% $356,000 N/A N/A $233,500 $367,500 18.57% $345,000

$350,000 -1.69% $123,000 -47.32% $339,500 -1.59%

3 4 6 4 8

29 6 45

-14.71% 0.00% -6.25%

443 109 642

526 122 752

18.74% 11.93% 17.13%

$156,500 $100,750 $161,000

$185,000 $124,750 $179,000

$193,000 $119,000 $178,750

$189,500 $114,250 $175,950

-1.81% -3.99% -1.57%

1 8 1 1 9

21 1 26

16.67% 0.00% 36.84%

250 21 303

269 18 317

7.60% -14.29% 4.62%

$400,000 N/A $385,000

$490,000 22.50% $399,500 N/A N/A $237,000 $435,000 12.99% $392,500

$400,000 $245,000 $379,600

0.13% 3.38% -3.29%

5 6 1 0 8 7

54 9 75

-3.57% -10.00% -13.79%

490 112 766

582 142 906

18.78% 26.79% 18.28%

$147,500 $67,500 $134,900

$154,163 $125,000 $148,000

4.52% 85.19% 9.71%

$150,000 $91,425 $135,000

$154,550 $93,000 $136,000

3.03% 1.72% 0.74%

5 0 7

8 4 17

60.00% N/A 142.86%

77 18 131

88 24 158

14.29% 33.33% 20.61%

$266,000 N/A $266,000

$332,500 $335,250 $385,000

25.00% $275,000 N/A $369,000 44.74% $300,000

$274,450 $381,250 $296,750

-0.20% 3.32% -1.08%

2 8 9 4 4

58 14 79

107.14% 55.56% 79.55%

465 157 713

590 183 882

26.88% 16.56% 23.70%

$261,250 $124,000 $225,000

$292,988 $203,500 $279,000

12.15% 64.11% 24.00%

$270,000 $185,000 $259,000

$280,000 $169,500 $262,000

3.70% -8.38% 1.16%

23 1 31

4.55% -85.71% -22.50%

297 63 440

296 56 425

-0.34% -11.11% -3.41%

$155,000 $85,000 $128,273

$164,000 5.81% N/A -100.00% $164,000 27.85%

$155,000 $60,500 $135,000

$160,000 $68,750 $149,000

3.23% 13.64% 10.37%

BETHANY 1 Family Condo All Sales

57.50% N/A 68.89%

N/A N/A N/A

$329,900 N/A $329,900

N/A $337,025 N/A N/A N/A $339,000

$329,900 -2.11% N/A N/A $312,000 -7.96%

BRANFORD 1 Family Condo All Sales

1 7 2 2 4 9

CHESHIRE 1 Family Condo All Sales

DERBY 1 Family Condo All Sales

EAST HAVEN 1 Family Condo All Sales

2 6 4 3 1

GUILFORD 1 Family Condo All Sales

HAMDEN 1 Family Condo All Sales

18.21% 23.82% 11.18%

MADISON 1 Family Condo All Sales

MERIDEN 1 Family Condo All Sales

MIDDLEBURY 1 Family Condo All Sales

MILFORD 1 Family Condo All Sales

NAUGATUCK 1 Family Condo All Sales

2 2 7 4 0

32 | THE COMMERCIAL RECORD | FEBRUARY 2017

Real estate & credit transactions updated every Thursday

www.commercialrecord.com â&#x20AC;¢ subscribers only

NUMBER OF SALES DEC 2015

DEC %CHG 2015 2016 15-16 YTD

2016 YTD

MEDIAN PRICE %CHG 15-16

DEC 2015

DEC %CHG 2015 2016 15-16 YTD

2016 %CHG YTD 15-16

NEW HAVEN 1 Family Condo All Sales

3 0 1 4 9 1

33 10 90

10.00% -28.57% -1.10%

318 158 892

383 156 1,042

20.44% -1.27% 16.82%

$161,250 $60,703 $145,000

$141,000 -12.56% $122,450 101.72% $139,950 -3.48%

$160,101 $120,000 $155,000

$170,000 $138,000 $160,500

6.18% 15.00% 3.55%

12 0 14

-14.29% N/A -17.65%

121 29 173

134 17 175

10.74% -41.38% 1.16%

$227,500 N/A $227,000

$281,272 23.64% $255,000 N/A N/A $159,800 $284,500 25.33% $239,000

$260,750 $160,000 $250,000

2.25% 0.13% 4.60%

2 1 1 2 9

18 8 33

-14.29% 700.00% 13.79%

246 28 312

255 35 354

3.66% 25.00% 13.46%

$262,500 N/A $250,000

$253,000 $278,750 $285,000

-3.62% $265,000 N/A $232,900 14.00% $262,250

$265,000 $238,000 $268,000

0.00% 2.19% 2.19%

1 6 1 1 8

19 2 23

18.75% 100.00% 27.78%

156 13 195

162 10 201

3.85% -23.08% 3.08%

$312,450 N/A $318,150

$344,900 10.39% $344,700 N/A N/A $432,887 $350,000 10.01% $355,000

$345,450 $402,919 $355,000

0.22% -6.92% 0.00%

1 1 1 1 8

10 -9.09% 0 -100.00% 13 -27.78%

103 38 191

122 29 198

18.45% -23.68% 3.66%

$310,000 N/A $315,000

$353,685 14.09% $303,500 N/A N/A $372,498 $355,000 12.70% $345,000

$327,500 $370,000 $346,028

7.91% -0.67% 0.30%

13 2 22

18.18% 0.00% 69.23%

113 20 164

97 26 152

-14.16% 30.00% -7.32%

$207,500 N/A $207,500

$250,000 20.48% $260,000 N/A N/A $333,500 $252,500 21.69% $265,950

$261,000 $358,500 $273,000

0.38% 7.50% 2.65%

18 3 23

50.00% -25.00% 21.05%

151 34 229

181 36 255

19.87% 5.88% 11.35%

$212,500 $97,500 $181,000

$205,000 $97,000 $190,000

-3.53% -0.51% 4.97%

$215,000 $96,750 $189,000

$212,500 $97,500 $190,000

-1.16% 0.78% 0.53%

18 12 34

80.00% -42.86% 6.25%

159 233 438

223 255 517

40.25% 9.44% 18.04%

$337,500 $96,000 $162,000

$354,000 $123,000 $287,000

4.89% 28.13% 77.16%

$350,000 $120,000 $180,000

$337,500 $127,000 $195,500

-3.57% 5.83% 8.61%

34 7 48

70.00% -36.36% 20.00%

340 134 558

427 133 650

25.59% -0.75% 16.49%

$212,250 $157,500 $206,000

$241,625 $193,000 $241,625

13.84% 22.54% 17.29%

$245,000 $165,000 $230,000

$240,000 $177,000 $235,000

-2.04% 7.27% 2.17%

9.84% 624 0.00% 231 9.90% 1,179

711 176 1,248

13.94% -23.81% 5.85%

$85,575 $57,900 $85,000

$90,000 $50,000 $89,700

5.17% -13.64% 5.53%

$95,000 $45,000 $75,000

$100,000 $54,750 $89,000

5.26% 21.67% 18.67%

3.55% -43.81% -5.88%

$155,000 $100,000 $152,000

$164,900 $95,250 $159,700

6.39% -4.75% 5.07%

NORTH BRANFORD 1 Family Condo All Sales

1 4 0 1 7

NORTH HAVEN 1 Family Condo All Sales

ORANGE 1 Family Condo All Sales

OXFORD 1 Family Condo All Sales

PROSPECT 1 Family Condo All Sales

1 1 2 1 3

SEYMOUR 1 Family Condo All Sales

1 2 4 1 9

SOUTHBURY 1 Family Condo All Sales

1 0 2 1 3 2

WALLINGFORD 1 Family Condo All Sales

2 0 1 1 4 0

WATERBURY 1 Family Condo All Sales

6 1 1 3 1 01

67 13 111

WEST HAVEN 1 Family Condo All Sales

4 2 4 6 1

37 10 57

-11.90% 150.00% -6.56%

386 84 587

439 100 676

13.73% 19.05% 15.16%

$169,000 $149,500 $170,000

$175,000 $84,000 $160,000

19 2 25

111.11% N/A 78.57%

168 15 207

167 14 218

-0.60% -6.67% 5.31%

$203,000 N/A $215,000

$185,000 -8.87% $197,500 N/A N/A $276,000 $185,000 -13.95% $200,000

$200,000 1.27% $173,000 -37.32% $199,750 -0.13%

13 0 13

30.00% N/A 8.33%

123 0 134

135 0 144

$276,500 N/A $276,500

$325,720 17.80% $377,500 N/A N/A N/A $325,720 17.80% $376,750

$362,000 -4.11% N/A N/A $359,000 -4.71%

17.01% 6,393 -1.36% 1,923 11.09% 10,394

7,278 1,975 11,613

$202,000 $114,000 $175,000

$208,000 $130,000 $191,500

$215,000 $132,500 $190,000

WOLCOTT 1 Family Condo All Sales

9 0 1 4

WOODBRIDGE 1 Family Condo All Sales

1 0 0 1 2

9.76% N/A 7.46%

NEW HAVEN COUNTY 1 Family Condo All Sales

5 41 1 47 8 93

633 145 992

13.84% 2.70% 11.73%

2.97% 14.04% 9.43%

$215,000 $126,600 $185,000

0.00% 4.66% 2.70%

FEBRUARY 2017 | THE COMMERCIAL RECORD | 33

TRENDLINES

NEW LONDON COUNTY SALES REPORT

NUMBER OF SALES DEC 2015

DEC %CHG 2015 2016 15-16 YTD

MEDIAN PRICE

2016 YTD

%CHG 15-16

DEC 2015

DEC %CHG 2015 2016 15-16 YTD

2016 %CHG YTD 15-16

26 0 34

27 0 33

3.85% N/A -2.94%

158 25 215

194 22 249

22.78% -12.00% 15.81%

37.50% N/A 40.91%

198 55 338

226 67 345

14.14% 21.82% 2.07%

0 -100.00% 0 N/A 1 -66.67%

17 0 34

23 0 33

5 0 7

5 0 8

62 7 90

70 6 111

12.90% -14.29% 23.33%

$186,000 N/A $165,500

$155,000 -16.67% $164,850 N/A N/A $66,500 $147,500 -10.88% $152,450

$140,000 -15.07% $99,950 50.30% $125,000 -18.01%

2 2 8 3 6

20 8 32

242 87 386

295 64 438

21.90% -26.44% 13.47%

$247,500 $97,500 $181,250

$240,750 $110,200 $217,450

$232,000 $116,750 $206,357

7 0 1 0

11 0 16

64 0 92

101 0 123

57.81% N/A 33.70%

$241,000 N/A $223,325

$205,000 -14.94% $202,500 N/A N/A N/A $193,000 -13.58% $181,000

$195,000 -3.70% N/A N/A $186,900 3.26%

2 2 1 2 8

13 3 19

200 13 240

235 18 281

17.50% 38.46% 17.08%

$174,500 N/A $142,450

$235,000 $42,000 $227,054

$203,000 4.10% $51,500 -26.43% $200,000 5.29%

7 0 1 0

1 0 1

-85.71% N/A -90.00%

44 0 65

44 0 59

0.00% N/A -9.23%

$175,000 N/A $157,450

1 0 1

5 0 5

400.00% N/A 400.00%

20 1 36

43 0 56

115.00% -100.00% 55.56%

N/A N/A N/A

16 1 22

0.00% 0.00% 4.76%

163 8 204

186 8 245

14.11% 0.00% 20.10%

$178,950 N/A $160,000

$189,500 5.90% $170,000 N/A N/A $49,000 $179,350 12.09% $163,250

$180,000 $57,000 $175,000

5.88% 16.33% 7.20%

19 6 36

90.00% 500.00% 71.43%

179 30 310

157 44 338

-12.29% 46.67% 9.03%

$149,250 N/A $125,000

$144,350 $128,750 $141,250

$146,500 $136,000 $135,716

1.03% 95.68% -1.12%

$286,200 N/A $267,500

$265,000 -7.41% $219,500 N/A N/A N/A $194,000 -27.48% $219,000

$240,000 9.34% N/A N/A $227,000 3.65%

$126,000 62.16% $166,000 161.01% $118,500 102.56%

$127,000 $103,700 $107,000

BOZRAH 1 Family Condo All Sales

1 0 2

0 -100.00% 0 N/A 0 -100.00%

N/A N/A N/A

N/A $161,500 N/A N/A N/A $173,750

$225,000 39.32% N/A N/A $225,000 29.50%

COLCHESTER 1 Family Condo All Sales

1 7 3 2 7

12 1 13

-29.41% -66.67% -51.85%

$235,000 $66,500 $180,000

$274,500 16.81% N/A -100.00% $260,000 44.44%

$222,000 $155,000 $217,000

$241,700 $173,000 $235,000

8.87% 11.61% 8.29%

$366,500 N/A $332,000

$298,750 $269,000 $294,000

-18.49% $295,500 N/A $188,000 -11.45% $245,000

$276,500 $180,000 $260,000

-6.43% -4.26% 6.12%

EAST LYME 1 Family Condo All Sales

1 6 0 2 2

22 4 31

FRANKLIN 1 Family Condo All Sales

2 0 3

35.29% N/A -2.94%

N/A N/A $74,458

N/A N/A $172,000 N/A N/A N/A N/A -100.00% $190,000

$212,500 23.55% N/A N/A $187,500 -1.32%

GRISWOLD 1 Family Condo All Sales

0.00% N/A 14.29%

GROTON 1 Family Condo All Sales

-9.09% 0.00% -11.11%

-2.73% 13.03% 19.97%

$250,000 $126,000 $199,450

-7.20% -7.34% 3.46%

LEBANON 1 Family Condo All Sales

57.14% N/A 60.00%

LEDYARD 1 Family Condo All Sales

-40.91% 200.00% -32.14%

34.67% $195,000 N/A $70,000 59.39% $189,950

LISBON 1 Family Condo All Sales

N/A -100.00% $184,000 N/A N/A N/A N/A -100.00% $170,000

$184,000 0.00% N/A N/A $179,900 5.82%

LYME 1 Family Condo All Sales

$365,000 N/A $365,000

N/A $484,500 N/A N/A N/A $432,000

$395,000 -18.47% N/A N/A $370,500 -14.24%

MONTVILLE 1 Family Condo All Sales

1 6 1 2 1

NEW LONDON 1 Family Condo All Sales

1 0 1 2 1

-3.28% $145,000 N/A $69,500 13.00% $137,250

NORTH STONINGTON 1 Family Condo All Sales

4 0 5

5 0 13

25.00% N/A 160.00%

74 0 101

75 0 109

1 7 6 3 8

13 3 26

-23.53% -50.00% -31.58%

209 45 354

213 52 364

1.35% N/A 7.92%

NORWICH 1 Family Condo All Sales

1.91% 15.56% 2.82%

34 | THE COMMERCIAL RECORD | FEBRUARY 2017

$77,700 $63,600 $58,500

$102,000 $90,000 $92,468

24.51% 15.22% 15.72%

Real estate & credit transactions updated every Thursday

www.commercialrecord.com • subscribers only

NUMBER OF SALES DEC 2015

DEC %CHG 2015 2016 15-16 YTD

2016 YTD

MEDIAN PRICE %CHG 15-16

DEC 2015

DEC %CHG 2015 2016 15-16 YTD

2016 %CHG YTD 15-16

OLD LYME 1 Family

Condo

1 Family

Condo

1 Family

Condo

All Sales

50.00%

-31.25%

N/A

0.00%

N/A

200.00%

130

-26.15%

N/A

166.67%

-5.88%

300.00%

200.00%

-1.10%

$211,500

$129,950

-38.56%

133.33%

-4.65%

$272,000

$255,000

-6.25%

0 -100.00%

-33.33%

N/A

$917,000 N/A $257,734

N/A $400,000

$346,500 -13.38%

N/A $392,500

$252,500 -35.67%

N/A $377,083

$335,250 -11.09%

PRESTON

All Sales

N/A

$238,000 N/A

$170,000 N/A

-28.57% N/A

$183,950 N/A

$216,450

17.67%

$120,000

N/A

$180,000

$200,500

11.39%

$255,900

$268,000

4.73%

SALEM

All Sales

N/A

50.00%

5.00%

$181,000

1 Family

0 -100.00%

16.00%

$115,000

Condo

-25.00%

15.15%

$91,500

N/A $255,000

N/A

$53,000

N/A -100.00%

40.88%

$236,500

$230,000

-2.75%

N/A -100.00%

$179,400

$173,145

-3.49%

SPRAGUE

All Sales

N/A

$150,000

63.93%

$165,000

$171,000

3.64%

$284,450

-12.48%

$310,000

$312,500

0.81%

$1,150,000 139.58%

$402,000

$295,000 -26.62%

$290,000

$278,225

-4.06%

N/A $180,000

$179,000

-0.56%

STONINGTON 1 Family

1 5

20.00%

193

170

-11.92%

$325,000

Condo

-25.00%

-45.16%

$480,000

2 3

34.78%

277

290

4.69%

$310,000

200.00%

59.26%

All Sales

$269,900

-12.94%

VOLUNTOWN 1 Family

Condo

300.00%

All Sales

N/A

N/A 67.74%

N/A N/A N/A

$175,000 N/A $195,000

N/A

N/A $180,000

N/A

$168,000

-6.67%

-2.00%

WATERFORD 1 Family

2 3

4.35%

278

308

10.79%

$205,000

$202,500

-1.22%

$220,400

$216,000

Condo

0.00%

-23.08%

$100,000

$135,000

35.00%

$134,750

$147,750

9.65%

3 2

-12.50%

368

399

8.42%

$172,500

$200,000

15.94%

$205,000

$202,000

-1.46%

4.06% 2,386

1.93%

All Sales

NEW LONDON COUNTY 1 Family

1 97

205

Condo

2 8

3 03

316

All Sales

2,610

9.39%

$205,000

$222,000

8.29%

$208,000

$212,013

362

348

-3.87%

$84,250

$130,000

54.30%

$130,000

$135,500

4.23%

4.29% 3,489

3,812

9.26%

$166,200

$200,000

20.34%

$190,000

$192,000

1.05%

17.86%

LOOKING FOR MORE? Our online real estate records offer a much deeper look into your markets and neighborhoods. Every Thursday, CommercialRecord.com is updated with the most recent sales, foreclosure, mortgage and credit information available from The Warren Group. Our weekly digital records are offered in a convenient, searchable PDF format, and are archived to 2001. Each PDF is organized by county, town and street to make it easy to find exactly the data you need to make informed business decisions. As a bonus, all subscribers to The Commercial Record get access to similar weekly data from Rhode Island. Simply visit www.commercialrecord.com, log in, click on the big, red “Records & Research” button in the upper left corner, and get busy putting The Commercial Record to work for you.

FEBRUARY FEBRUARY 2017 | THE COMMERCIAL RECORD | 35

TRENDLINES

TOLLAND COUNTY SALES REPORT

NUMBER OF SALES DEC 2015

DEC %CHG 2015 2016 15-16 YTD

2016 YTD

MEDIAN PRICE %CHG 15-16

DEC 2015

DEC %CHG 2015 2016 15-16 YTD

2016 %CHG YTD 15-16

ANDOVER 1 Family Condo All Sales

3 0 4

2 0 2

-33.33% N/A -50.00%

34 0 44

41 0 49

20.59% N/A 11.36%

$155,900 N/A $155,450

N/A -100.00% $219,500 N/A N/A N/A N/A -100.00% $192,000

$249,000 13.44% N/A N/A $230,000 19.79%

3 0 6

8 0 9

166.67% N/A 50.00%

48 0 63

61 0 74

27.08% N/A 17.46%

$230,000 N/A $303,250

$230,000 0.00% $233,500 N/A N/A N/A $265,000 -12.61% $219,000

$245,000 4.93% N/A N/A $247,500 13.01%

2 0 2

-81.82% N/A -84.62%

85 0 106

71 1 80

-16.47% N/A -24.53%

$210,000 N/A $215,500

N/A -100.00% $220,000 N/A N/A N/A N/A -100.00% $216,000

$212,500 -3.41% N/A N/A $213,750 -1.04%

9 0 13

-47.06% N/A -38.10%

153 8 206

149 11 197

-2.61% 37.50% -4.37%

$252,000 N/A $250,000

$238,470 -5.37% $210,000 N/A N/A $114,800 $189,900 -24.04% $210,000

$200,000 $121,900 $200,000

-4.76% 6.18% -4.76%

1 1 4 2 1

8 4 15

-27.27% 0.00% -28.57%

126 27 202

112 31 188

-11.11% 14.81% -6.93%

$308,500 $109,500 $220,400

$328,000 6.32% $298,900 172.97% $285,000 29.31%

$236,250 $132,000 $234,500

-3.67% 13.79% 0.21%

3 0 3

10 1 12

233.33% N/A 300.00%

100 2 125

149 7 169

49.00% 250.00% 35.20%

$199,900 N/A $199,900

$233,500 16.81% $265,700 N/A N/A N/A $224,000 12.06% $257,000

$249,000 $244,000 $244,000

-6.29% N/A -5.06%

1 1 1 1 5

12 6 23

9.09% 500.00% 53.33%

108 29 166

130 62 233

20.37% 113.79% 40.36%

$225,000 N/A $207,500

$223,150 $351,063 $239,800

-0.82% $220,000 N/A $180,000 15.57% $205,500

$221,000 $260,023 $225,000

0.45% 44.46% 9.49%

1 1 0 1 6

5 0 9

-54.55% N/A -43.75%

91 3 128

101 6 129

10.99% 100.00% 0.78%

$293,000 N/A $266,500

$215,000 -26.62% $262,000 N/A N/A $345,000 $297,900 11.78% $263,000

$269,000 $361,450 $265,000

2.67% 4.77% 0.76%

-5.26% -31.25% 7.78%

$243,750 N/A $110,000

$177,500 -27.18% $183,000 N/A N/A $91,000 $177,500 61.36% $156,550

$208,000 $125,000 $170,450

13.66% 37.36% 8.88%

BOLTON 1 Family Condo All Sales

COLUMBIA 1 Family Condo All Sales

1 1 0 1 3

COVENTRY 1 Family Condo All Sales

1 7 0 2 1

ELLINGTON 1 Family Condo All Sales

$245,250 $116,000 $234,000

HEBRON 1 Family Condo All Sales

MANSFIELD 1 Family Condo All Sales

SOMERS 1 Family Condo All Sales

STAFFORD 1 Family Condo All Sales

8 2 1 5

9 1 15

12.50% -50.00% 0.00%

114 16 167

108 11 180

2 0 1 2 3

10 -50.00% 0 -100.00% 15 -34.78%

156 10 186

171 12 208

TOLLAND 1 Family Condo All Sales

9.62% $191,150 $297,750 20.00% 11.83% $195,300 $250,000

55.77% $254,500 N/A $142,250 28.01% $242,000

$241,500 -5.11% $110,950 -22.00% $238,500 -1.45%

UNION 1 Family Condo All Sales

1 0 2

1 0 1

0.00% N/A -50.00%

8 0 13

5 0 6

-37.50% N/A -53.85%

N/A N/A N/A

N/A $209,500 N/A N/A N/A $165,000

$199,000 -5.01% N/A N/A $220,750 33.79%

2 2 8 3 6

20 9 37

-9.09% 12.50% 2.78%

258 96 419

260 79 421

0.78% -17.71% 0.48%

$183,100 $82,050 $156,700

$168,500 $61,000 $162,000

6 1 7

20.00% N/A -12.50%

55 3 68

39 2 51

-29.09% -33.33% -25.00%

$150,000 N/A $143,250

$192,250 28.17% $200,600 N/A N/A $107,000 $192,500 34.38% $189,950

$220,000 9.67% N/A - 100.00% $194,500 2.40%

-19.05% 1,336 37.50% 194 -12.57% 1,893

1,397 222 1,985

4.57% 14.43% 4.86%

$210,000 $104,450 $195,300

$215,000 $177,500 $212,500

$220,000 $155,000 $209,900

VERNON 1 Family Condo All Sales

-7.97% -25.66% 3.38%

$181,100 $113,750 $160,000

$176,400 $113,500 $164,000

-2.60% -0.22% 2.50%

WILLINGTON 1 Family Condo All Sales

5 0 8

TOLLAND COUNTY 1 Family Condo All Sales

1 26 1 6 1 83

102 22 160

36 | THE COMMERCIAL RECORD | FEBRUARY 2017

2.38% 69.94% 8.81%

$219,000 $116,300 $204,000

0.46% 33.28% 2.89%

TRENDLINES

WINDHAM COUNTY SALES REPORT

NUMBER OF SALES DEC 2015

DEC %CHG 2015 2016 15-16 YTD

2016 YTD

MEDIAN PRICE %CHG 15-16

DEC 2015

DEC %CHG 2015 2016 15-16 YTD

2016 %CHG YTD 15-16

ASHFORD 1 Family Condo All Sales

2 0 2

3 0 3

50.00% N/A 50.00%

30 1 40

41 0 57

36.67% -100.00% 42.50%

N/A N/A N/A

$257,500 N/A $257,500

N/A $173,000 N/A N/A N/A $167,000

$180,000 N/A $169,900

4.05% N/A 1.74%

4 0 8

-50.00% N/A -20.00%

123 6 164

115 6 163

-6.50% 0.00% -0.61%

$139,950 N/A $139,950

$207,500 N/A $224,950

$205,000 $229,000 $195,000

15.17% 0.22% 11.43%

6 0 8

6 0 9

0.00% N/A 12.50%

55 0 71

58 0 89

5.45% N/A 25.35%

$183,000 N/A $183,000

$188,000 2.73% $185,000 N/A N/A N/A $146,000 -20.22% $181,000

$202,500 N/A $189,900

9.46% N/A 4.92%

2 0 2

0 -100.00% 0 N/A 0 -100.00%

25 1 32

25 0 33

1 0 4

0.00% N/A -33.33%

13 0 31

19 1 34

46.15% N/A 9.68%

0 -100.00% 0 N/A 0 -100.00%

14 0 27

16 0 38

14.29% N/A 40.74%

148 20 228

164 14 249

10.81% -30.00% 9.21%

$139,500 N/A $157,500

$146,500 N/A $146,500

-4.62% 33.33% -10.36%

$154,200 N/A $154,200

$132,500 -14.07% $140,000 N/A N/A $74,700 $135,000 -12.45% $135,900

$135,000 -3.57% $63,925 -14.42% $135,000 -0.66%

24.32% N/A 8.57%

$233,500 N/A $233,500

$172,950 -25.93% $266,000 N/A N/A N/A $175,000 -25.05% $211,000

$229,450 -13.74% N/A N/A $221,450 4.95% $149,250 $170,000 $145,000

-0.50% 3.82% 0.00%

$178,000 N/A $178,000

4.71% N/A 9.20%

BROOKLYN 1 Family Condo All Sales

8 0 1 0

48.27% $178,000 N/A $228,500 60.74% $175,000

CANTERBURY 1 Family Condo All Sales

CHAPLIN 1 Family Condo All Sales

0.00% -100.00% 3.13%

N/A N/A N/A

N/A $154,000 N/A N/A N/A $145,000

$180,000 16.88% N/A N/A $169,900 17.17%

N/A N/A $106,667

N/A N/A $195,000 N/A N/A N/A $22,500 -78.91% $195,000

$225,000 15.38% N/A N/A $193,500 -0.77%

N/A N/A $205,500

N/A N/A $208,750 N/A N/A N/A N/A -100.00% $194,000

$188,900 -9.51% N/A N/A $132,500 -31.70%

EASTFORD 1 Family Condo All Sales

1 0 6

HAMPTON 1 Family Condo All Sales

2 0 4

KILLINGLY 1 Family Condo All Sales

1 6 1 2 2

10 1 16

-37.50% 0.00% -27.27%

5.02% $157,000 N/A $113,750 -6.98% $139,950

$152,000 $139,900 $149,000

-3.18% 22.99% 6.47%

PLAINFIELD 1 Family Condo All Sales

1 0 0 1 6

17 0 19

70.00% N/A 18.75%

130 3 193

124 4 173

6 0 8

6 0 11

0.00% N/A 37.50%

37 0 70

46 0 76

9 5 1 7

10 3 18

79 24 138

102 33 181

29.11% 37.50% 31.16%

$132,500 $141,000 $130,000

$130,000 $132,900 $138,950

-1.89% -5.74% 6.88%

$220,000 N/A $220,000

11.11% $170,000 N/A N/A 11.11% $163,000

POMFRET 1 Family Condo All Sales

PUTNAM 1 Family Condo All Sales

11.11% -40.00% 5.88%

$150,000 $163,750 $145,000

SCOTLAND 1 Family Condo All Sales

3 0 3

0.00% N/A 0.00%

23 0 32

26 0 28

13.04% N/A -12.50%

$198,000 N/A $198,000

2 0 5

-50.00% N/A 0.00%

51 3 72

53 3 75

3.92% 0.00% 4.17%

$232,500 N/A $195,000

1 0 0 1 3

15 0 17

50.00% N/A 30.77%

99 3 136

159 5 197

60.61% 66.67% 44.85%

$137,450 N/A $134,900

$183,000 N/A $180,000

33.14% $193,000 N/A $130,000 33.43% $173,500

$190,000 $135,000 $185,000

-1.55% 3.85% 6.63%

7 0 1 4

11 0 22

57.14% N/A 57.14%

126 5 195

157 5 217

24.60% 0.00% 11.28%

$125,000 N/A $113,500

$124,890 N/A $140,000

-0.09% $119,900 N/A $119,000 23.35% $115,000

$134,000 $120,000 $132,000

11.76% 0.84% 14.78%

16 0 20

33.33% N/A 0.00%

111 9 161

116 13 186

4.50% 44.44% 15.53%

$230,500 N/A $221,000

$225,250 N/A $206,500

-2.28% $229,500 N/A $140,000 -6.56% $210,000

$235,500 2.61% $120,000 -14.29% $215,000 2.38%

6.12% 1,064 -33.33% 75 3.33% 1,590

1,221 84 1,796

14.76% 12.00% 12.96%

$165,000 $160,500 $151,750

$163,450 $151,450 $163,000

-0.94% -5.64% 7.41%

$170,000 $140,000 $160,500

STERLING 1 Family Condo All Sales

4 0 5

N/A -100.00% $175,000 N/A N/A $70,000 $27,000 -86.15% $163,850

$189,500 8.29% $165,000 135.71% $171,000 4.36%

THOMPSON 1 Family Condo All Sales

WINDHAM 1 Family Condo All Sales

WOODSTOCK 1 Family Condo All Sales

1 2 0 2 0

WINDHAM COUNTY 1 Family Condo All Sales

9 8 6 1 50

104 4 155

$166,500 $137,100 $154,700

2.10% 2.12% 3.75%

FEBRUARY 2017 | THE COMMERCIAL RECORD | 37

FAIRFIELD COUNTY GOSSIP REPORT

GREENWICH

ADDRESS: 267 Riverside Ave., Greenwich

ADDRESS: 10 Heather Drive, New Canaan

PRICE: $4,750,000

PRICE: $4,490,000

PRICE: $4,300,000

SIZE: 7,042 square feet on 1.01 acres

SIZE: 2,266 square feet on 0.54 acres

SIZE: 10,078 square feet on 2.41 acres

BUYER: Duggan Jensen and Erin Jensen

BUYER: Jennifer Marks and Sean Marks

BUYER: Kelly Orlich and Robert Orlich

SELLER: Matthew Chasin and Pamela Chasin

SELLER: CLT Sherwood LLC

SELLER: Ellen Kliavkoff and George Kliavkoff

AGENT: Maria Crowley Houlihan Lawrence

SOLD: 12/21/16

AGENT: William Raveis Real Estate SOLD: 1/3/17

GREENWICH

ADDRESS: 46 Quail Road, Greenwich PRICE: $3,955,000 SIZE: 5,220 square feet on 2.3 acres BUYER: Upperline Partners LLC SELLER: Josephine Magliocco AGENT: Houlihan Lawrence SOLD: 1/5/17

NEW CANAAN

ADDRESS: 450 North St., Greenwich

SOLD: 12/28/16

1 2 4 5

GREENWICH

ADDRESS: 19 Sherwood Farm Lane, Greenwich PRICE: $3,825,000 SIZE: 7,713 square feet on 1.04 acres BUYER: Cullen McMahon and Anne Peterson SELLER: Carol Zuckert AGENT: Sotheby’s International Realty SOLD: 12/15/16

The five-bedroom, three-bathroom home in this week’s No. 2 spot was built in 1925. Its long driveway may soon host a basketball hoop; the property was purchased by former NBA player, two-time Olympian and current Brooklyn Nets general manager Sean Marks and his wife, Jennifer Marks. The home was approved for demolition last fall and the half-acre lot would accommodate a much larger structure (presumably with high ceilings) – there may be a new house there before long.

38 | THE COMMERCIAL RECORD | FEBRUARY 2017

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4.27.17

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