The Commercial Record - March 2017 by The Warren Group

MARCH 2017

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REAL ESTATE & FINANCIAL NEWS FOR CONNECTICUT

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GREEN ISSUE Certified Selling Point: Developers Aim For LEED Status

Green Building Ramps Up As Technology Gets Cheaper At Five Years Old, Green Bank Takes Next Steps MARCH 2017 | THE COMMERCIAL RECORD | 1

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inside The Commercial Record’s Green Issue Spring comes once more to New England and The Commercial Record celebrates with its annual green issue. New technology makes green homes more affordable and more popular, while redevelopers aim for the gold – or silver, or platinum – seeking LEED certifications on a variety of projects. And the CT Green Bank, now in its fifth year and serving as a model for green funding programs across the country, takes its next steps by aiming to establish a secondary market for clean energy financing.

Greening Connecticut The CT Green Bank aims to establish a secondary market for clean energy financing.

10 Net-Zero Reality New and more affordable technology makes greener homes possible.

14 Going For The Gold Commercial redevelopment and reuse projects aim for LEED certifications.

16 Support As A Selling Point Community banks do a lot to support their local communities; the deeds are important, but so too is the name recognition those deeds produce.

state statistics

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

24 trendlines 38 gossip report

MARCH 2017 | THE COMMERCIAL RECORD | 3

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from the editor

MARKETS GO GREEN, LITERALLY AND FIGURATIVELY

s spring beings to bloom once more in New England, so too does the local real estate market. Hopefully by the time you read this, the snow will be but a memory and your weekends will be wall-to-wall open houses. This issue of The Commercial Record is The Green Issue, which CR’s staff has chosen to interpret in ways both literal and unexpected. Banking reporter Laura Alix has an update on the CT Green Bank – which, as one might assume from the name, helps facilitate funding for private sector clean energy improvements. The bank is nearing 200 applications for its C-PACE since the program began four years ago, supporting projects ranging in size from $30,000 to $8.3 million. Some of those loans have been used to finance the redevelopment of the state’s older buildings into highly modern, highly efficient adaptive reuse projects,

some of which are featured in this issue. Not so long ago, developers and readers wanted to know what the hell LEED stood for and why they should put in the extra effort (in time and money) to earn those precious metal designations; now a LEED certification is entirely mainstream. In this issue, commercial real estate reporter Steve Adams reports on several large green retrofitting projects, most of which have achieved LEED scores ranging from Silver to Platinum. A LEED certification is still an achievement, of course, and none more than the recently reopened 777 Main St. in Hartford. The former home of Hartford National Bank now holds 285 units

and scored a LEED Platinum certification following its $85 million conversion from an office building. Equally as impressive is BPC Green Builders’ contribution to the residential market’s green offerings. The company’s owners, brothers Mike and Chris Trolle, last year built a more than 6,000-squarefoot net-zero house. Net-zero houses produce as much energy as they consume, and in some cases produce more than they consume, putting energy back into the grid. “We can now offer to build a net-zero house for anyone under almost any circumstance,” Mike Trolle tells residential real estate reporter Jim Morrison. That’s a huge accomplishment both for these specialty builders and for the future of passive housing. Passive and net-zero houses aren’t cheap to build, but technological improvements are lowering the upfront costs every day – and the eventual savings on utilities like electricity and heat help the financials make sense. Builders say they’re not seeing as many Millennial buyers of these clean energy homes, and those upfront costs may be why. Rather it’s the deep-pocketed Boomers purchasing the homes and financing their construction. In a dose of pragmatism the generation isn’t historically known for, the Boomer buyers are putting effort into making sure these are the last houses they’ll buy – ensuring that the construction offers them the ability to “age in place.” These programs, redevelopments and new construction are state-of-theart projects, making use of some of the world’s most cutting-edge technology. As amazing as they are – and they are – the potential for future projects looks even more bright. n

Cassidy Murphy Editorial Director Email: cmurphy@thewarrengroup.com

MARCH 2017 | THE COMMERCIAL RECORD | 5

Greening Connecticut

GREEN BANK MOVES TO ESTABLISH SECONDARY MARKET IN CLEAN ENERGY FINANCE Standardization Of Loans A Strong Draw For Investors, Underwriters BY LAURA ALIX | COMMERCIAL RECORD STAFF

n the Connecticut Green Bank’s five short years of existence, it’s sparked substantial private sector interest in clean energy financing. With a secondary market in sight and new initiatives for manufacturers, the Green Bank is hoping to take that to the next level. The Green Bank’s Commercial PropertyAssessed Clean Energy, or C-PACE, program provides a useful measure of the organization’s influence in increasing private investment into the world of clean energy. The Green Bank is now nearing 200 applications for C-PACE since the program’s inception in 2013, with projects ranging in size from $30,000 to $8.3 million. Bryan Garcia, president and CEO of the Green Bank, said that as C-PACE has picked up steam, the Green Bank has invested less and less public money into energy improvements in the state of Connecticut. “We were trying to demonstrate to the market that there were endless consumers who wanted energy improvements,” Garcia said. The Green Bank has also made moves toward the establishment of a secondary market in clean energy finance, a move that could help to accelerate institutional investment in that sphere. The Green Bank saw its first private securitization of C-PACE assessments in 2014. The Green Bank then partnered with Hannon Armstrong on its C-PACE program in late 2015. Hannon Armstrong committed $100 million in financing to the program and ultimately hopes to build a pool of PACE-assessments that can be se-

curitized, rated by an agency and sold on the secondary market, said Parker White, Hannon Armstrong’s director of commercial real estate. “We want to be able to facilitate the Connecticut Green Bank’s mission of providing capital to those who need it to improve the building stock to be more sustainable,” he said. “We also want to be able to generate a pool of PACE assessments that are professionally underwritten and professionally

“

single program with consistent standards across the program substantially alleviates the challenges that can go into an otherwise fragmented underwriting process,” he said. For now, White doesn’t want to put a time estimate on when Hannon Armstrong will offer that pool of securitized PACE assessments to the secondary market. Presently, he said, the firm’s focus is on the initial origination and underwriting of those financing vehicles.

Education And Activism The Green Bank hopes to generate more interest in the C-PACE program with its new Energy on the Line initiative. That program, a partnership between the Green Bank and the Department of Economic and Community Development, provides

We were trying to demonstrate to the market that there were endless consumers who wanted energy improvements.” — Bryan Garcia, president and CEO, CT Green Bank

structured so that they can be presented to a secondary market with a gold standard seal of approval.” What Hannon Armstrong especially liked about C-PACE was its standardization across the state, White said. A PACE project in Hartford is underwritten to the same requirements as a project in Stamford, in other words. “Being able to look at Connecticut as a

6 | THE COMMERCIAL RECORD | MARCH 2017

grants up to $50,000 to manufacturers for energy efficient improvements to their properties. Those funds can complement work done through the C-PACE program, Garcia said. If the program attracts 10 or 20 applicants, that should signal to the market that manufacturers do indeed want clean energy improvements, he said. The Green Bank, and others, would also

like to stimulate more interest in energy improvements on the part of non-owner occupiers, who be a tougher sell than owner-occupiers who naturally have an immediate interest in reducing their energy burden. That’s something that Kent McCord also sees as an obstacle to rolling out more green energy across Connecticut. McCord is now the director of business development in the state of Connecticut for Solect Energy, a developer of commercial-scale solar photovoltaic projects. Based in Hopkinton, Massachusetts, Solect expanded into Connecticut late last year, and the company tapped McCord to lead its efforts in the Nutmeg State. The Green Bank was at least one draw in bringing Solect to Connecticut. McCord told The Commercial Record that state policies and programs aimed at encouraging energy efficient upgrades to buildings, along with traction in the market that’s already underway, were several big draws. But he said Solect also saw opportunities in the Nutmeg State. “We think it’s a little bit underserved in the midmarket commercial building space and that’s where we specialize,” he said. “I think the fact that the Green Bank has commercial financing solutions is a strength for the Connecticut market. I think that came into the decision making to some degree.” Solect’s move into Connecticut may be an example of the ripple effect clean energy policies can have for a state. Those energy upgrades mean work for developers, like Solect, and for contractors who install those solar panels. With the infrastructure firmly in place to support these types of projects, Garcia said the challenge now is getting consumers to act on it. “You can think of C-PACE as an innovation,” he said. “It’s a financial product we’ve developed, but the challenge really is how do we educate households and businesses to see the value of clean energy, and then how do we activate them to make that decision? The challenge is education and activation.” n Email: lalix@thewarrengroup.com

MARCH 2017 | THE COMMERCIAL RECORD | 7

STATE STATISTICS Number of Single-Family Sales by Price Range

10-Year Single-Family Sales 2,500

2,200 1,880 1,560

2,000 $700K+

920

$500k-$699k

600

1992

500

$400k-$499k

1997

2002

$300k-$399k

2007

2012

2017

$0-$299k

400

NUMBER OF SALES

1,240

1,500

1,000

300

500

200 100

0 0

1992

1997

2002

2007

2012

2017

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

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

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

Lis Pendens and Foreclosures by Month 2,000

Lis Pendens Foreclosure Deeds 1,500

1,000

500

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan

2015

8 | THE COMMERCIAL RECORD || MARCH MARCH2017 2017

2016

2017

Top 5 Lenders by Market Share Refinance Mortgages

Multifamily Median Price $300,000

Quicken Loan Inc | 2017 Rank: 1 | 2016 Rank: 2

2-Family 5.23%

3-Family

$240,000

5.08%

Wells Fargo Bank NA | 2017 Rank: 2 | 2016 Rank: 1

PRICE

$180,000

$120,000

4.24% $60,000

5.74% 0

Webster Bank | 2017 Rank: 3 | 2016 Rank: 3

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 *Statistics include sales January - January All Years Source: The Warren Group

4.24%

20-Year Residential Median Prices 4.70%

$300,000

Single-Family JPMorgan Chase Bank | 2017 Rank: 4 | 2016 Rank: 5

Condo $240,000

3.70% $180,000

Bank Of America NA | 2017 Rank: 5 | 2016 Rank: 4

PRICE

3.48%

$120,000

3.36% $60,000

3.70% 0

2017

2016

*MarketShare percent includes loans through January for both years

97 98 99 00 01 02 03 04 04 06 07 08 09 10 11 12 13 14 15 16 17 *Statistics include median prices January - January All Years Source: The Warren Group

MARCH 2017 | THE COMMERCIAL RECORD | 9

Green Building

TECHNOLOGY MAKES GREEN BUILDING MORE AFFORDABLE, POPULAR Clients Want Lower Maintenance, Utility Bills

BY JIM MORRISON | COMMERCIAL RECORD STAFF

s more consumers demand high-performance components in their homes, builders have gone from lowering energy costs to eliminating them – and are now building comfortable homes that actually produce more energy than they consume in a year. And thanks to the popularity of the fast-growing green building movement, those homes are in high demand. “These people are able to find us and they know what they want,” said Mike Trolle, co-founder with his brother Chris

of BPC Green Builders in Wilton. “They don’t need a lot of education on the differences between conventional construc-

10 | THE COMMERCIAL RECORD | MARCH 2017

tion and what we do. The passive house movement has been a big help in helping people understand exactly what’s possible in terms of load reduction via building a thermal envelope in a carefully calculated manner. We can now offer to build a net-zero house for anyone under almost any circumstance.” The firm last year built a home between 6,000 and 7,000 square feet which they expect will be will be net-zero, meaning in the course of a year, the house will produce as much energy as it consumes.

Several Factors Driving The Trend Millennials aren’t buying as many of these homes (or indeed, any homes) as people expected them to, according to Russ Smith, of Amity Construction in Old Lyme. Most of his clients are Baby Boomers looking to make a lifestyle change. They want a solid, efficient, low maintenance home with whatever bells and whistles they can afford, he said. “In most cases, they are looking for energy efficiency,” Smith said. “The typical buyer isn’t aware of what green construction entails. They’re concerned with simplicity, open floor plans for entertaining. The want to age in place, so they’re concerned about mobility issues and minimal maintenance. They also want central air good quality cabinets and appliances. All of this is tempered by a budget.” Reducing a carbon footprint to protects the environment – as well as buyers’ wallets, said Bill Freeman of Celebration Green Design Build Madison. “I think people are obviously aware of the conversation around global climate change,” he said. “The concept of reducing your footprint definitely appeals to people. [And] you do end up with lower utility bills.” High-performance, energy efficient homes are not all alike. Each builder interviewed for this story said he spends a significant amount of time with clients to find out exactly what they need, what they want and what it will take to get it – and the conversation continues throughout the project. “One thing I talk to people about is their ability to shelter in place for a long time, if the power goes out and they don’t have a generator,” Freeman said. “If your house is built to a passive house standard or close to it, you’ll have energy efficient windows, more insulation in the walls and you’re going to have thermal bridging and an efficient heating system. Sometimes a gas fireplace is sufficient to heat the house.” Smith said he gets deep in the details of his client’s wish list and aligns the de-

tails of the blueprint accordingly. “We have an interview sheet with 40plus questions that touches on every aspect of the house,” Smith said. “It’s the only way you can properly direct a client toward what might be the right product for them. We discuss each aspect and the benefits of what different choices might be. The physical aspect is very important. You have to have someplace to put the house and you have to know how the site impacts every aspect of the house.”

Beyond The Building Code Improvements to the state building code include many upgrades to insulation requirements, energy-efficient windows and doors, and fewer air leaks, so even a conventionally built home is much more efficient than it was 10 years ago – but these builders take it to extremes.

“

The homes have better air quality than conventional homes, too, he said. “They have cleaner air because there is a filter on the heating/cooling system,” Freeman said. “And the heat recovery ventilator is also filtered, so fresh air is being constantly introduced and filtered, which also helps distribute the heating and cooling.” Each of the builders interviewed offer paints, floor finishes and cabinets that won’t off-gas harmful volatile organic compounds into the building. They also typically build a passive radon mitigation system into the homes, since tight homes can be associated with higher radon levels. “There’s always more energy efficient products coming all the time,” Trolle said. “The biggest deal is really getting the basic elements of a high quality

Now we can offer to build a net-zero for anyone under almost any circumstance.” — Mike Trolle, co-founder, BPC Green Builders

“We have at least four homes that I’m aware of that are achieving net-zero and a handful of others that are close,” Trolle said. “There are still others that have chosen not to install photovoltaic (PV) solar panels but still could and achieve netzero.” Only clients whose homes are sited such that it doesn’t make sense to install PV solar panels have elected not to install them, Freeman said; the panels make more energy for homes that use less and less. “Most people who have the ability to do it have done it,” Freeman said. “A lot of them drive Priuses or electric cars. The PV helps offset the charging of the car. And everyone uses LED lighting. We’ve even gone from using a 100-watt incandescent light bulb in a fixture to having a whole room that’s lit with less than 100 watts.”

thermal envelope spread throughout the construction world so they become standard. One strategy we’re using and is building these high efficiency building assemblies so there is virtually no risk of condensation or moisture issues in the wall or roof assembly by using vapor-open materials. In other words: they breathe. This is more important the more efficient the assembly becomes.” Freeman said he looks forward to the day that low-voltage lighting becomes readily available and will lower his customers’ electric bills even further. “Now we’re looking on low voltage lighting in general lighting,” Freeman said. “That means going from 120 volts to 24 volts, and it would be a lot less amps, too.” n Email: jmorrison@thewarrengroup.com

MARCH 2017 | THE COMMERCIAL RECORD | 11

C-CHANGES IN CONNECTICUT’S EXECUTIVE SUITES Richard Muskus Jr. was appointed president of Patriot National Bancorp Inc. and its wholly owned subsidiary, Stamford-based Patriot Bank. Muskus has worked as executive vice president and chief lending officer of the Patriot since February 2014. Previously, he was assistant vice president and senior credit analyst at Patriot from 1995 to 1998, and then vice president and commercial lending officer until 2000. He then spent 13 years at Connecticut Community Bank, working as senior vice president of commercial lending and then as president of its Greenwich Bank & Trust division before returning to Patriot.

Bill Mundell has joined Chelsea Groton Bank as assistant vice president of direct banking and e-commerce department manager. In this role, Mundell will be responsible for all electronic banking services, including online, mobile and telephone banking, debit cards and management of the bank’s ATMs. He will also oversee the sales and service activities of the bank’s Customer Care Center. Prior to joining Chelsea Groton, he was employed for eight years by PeoplesBank of Holyoke, initially in IT and then as an electronic services specialist.

First County Bank announced that John C. Polera has been named to First County Bank’s board of directors. Polera is in an attorney and president at the law office of John C. Polera P.C., with offices in Stamford and Garden City, New York. Polera has been a corporator at First County Bank since June 2015. He is a member of American Bar Association, the Connecticut Bar Association and the Fairfield County Bar Association.

JPMorgan Chase & Co. announced that Jennifer Piepszak will become CEO of its card services division, replacing Kevin Watters. Piepszak, 46, is currently head of business banking under Smith and has been at the bank for more than 23 years. She will hold both jobs until a successor is named.

AWARDS & ACCOLADES Former wrestling magnate and two-time Senate candidate Linda McMahon was confirmed to head up the Small Business Administration with a vote of 81–19. McMahon founded World Wrestling Entertainment with her husband Vince McMahon in 1980 and was active in that company until 2009, when she was appointed by Gov. Jodi Rell to the State Board of Education. She resigned that post to run for the Senate in 2010 and 2012. McMahon will succeed Maria Contreras-Sweet. McMahon has named Mary Anne Bradfield, a member of President Donald Trump’s transition team for the agency, as her chief of staff. Most recently, Bradfield worked in a senior program development role at ADS Corp. supporting the National Guard Bureau Joint Staff. Before that, she was the senior advisor to the chair and agency records officer at the U.S. Election Assistance Commission Bradfield previously worked at the SBA under George W. Bush, as counselor to the deputy administrator and deputy assistant administrator. 12 | THE COMMERCIAL RECORD | MARCH 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.

KEN GINSBERG, SENIOR COMMERCIAL BROKER, REAL LIVING WARECK D’OSTILIO Following stints practicing law and running his own mortgage company, Ken Ginsberg joined Real Living Wareck D’Ostilio as a commercial broker in 2015. How would you rate the health of the retail market? It’s unstable right now. New Haven is on fire. There are a lot of retailers looking to go into New Haven. There’s a tremendous boom in new construction, with multifamily residences in the center of New Haven. The retailers, the bars and restaurants are realizing there’s a good residential base and realizing there’s strong demand. Have you seen any movement on retail rents? Rents are static right now. There’s still more supply than demand, and the big-box users, with the news that Sears is possibly filing for bankruptcy and Macy’s is closing up stores, causes a lot of concern for retailers. A lot of the users are in mixed-use developments. It seems to be what towns are encouraging.

JESSICA MCCAULEY, CPA, PARTNER, BEERS, HAMERMAN, COHEN & BURGER Jessica McCauley kicked off her accounting career at what was then Price Waterhouse. What are some of the biggest challenges facing nonprofits today? How do you help them navigate those challenges? Most of what I do for nonprofits involves accounting services, auditing services. I would say most of them need an audit ... because they were receiving state or federal grant money, so they need a special audit just to make sure they’re in compliance with the requirements of the government. We spend a lot of time with our nonprofits helping them with their bookkeeping. Do you often find yourself working in partnership with those nonprofits’ banks? How can bankers be better partners to CPAs in this space? It’s helpful when we have situations where a nonprofit has a loan and they maybe have some debt compliance issues ... we don’t tend to have too much communication with their banks, but one thing that would be nice is for bankers to make sure that they network with the CPAs in the community.

JEFF CRISWELL, REAL ESTATE AGENT, COLDWELL BANKER Jeff Criswell was a starting tackle in the NFL (Indianapolis Colts, Buffalo Bills and Kansas City Chiefs) for a dozen seasons – more than twice the league average – before retiring in 1998. How do you plan to break into such a mature and competitive market? We started off looking at several companies, what was the deciding factor was Coldwell Banker had what we were looking for and had an office in Greenwich. We are now up and running and planning to do some farming as well as our marketing budget allows us to get on homes.com. We’ll be cold-calling expired listings like everyone else does, trying to turn over all the stones. Which NFL skills will you bring to real estate to be successful? There’s a lot of things it takes: dependable, trustworthy, a lot of core values you’d want in any relationship, particularly as an offensive lineman. Players in that position have always typically been real team-oriented. We’re the backbone of the team. We’re the unsung heroes.

BRUCE A. HOWELL, ACCESSIBILITY SERVICES MANAGER, THE CARROLL CENTER FOR THE BLIND Bruce Howell knew from a young age that he would eventually go blind. Please tell B&T’s readers about the work you’re doing at the Carroll Center with web accessibility issues. We’re teaching people to use these technologies to the best of their abilities. But [sometimes] the website owner, whether it’s a bank or any other company, may not be coding it in a way that works correctly with these assistive technologies. How has awareness of the issue shifted in the banking industry in recent years? I’ve been in this business for about four and a half years and initially whenever I reached out to a bank or any other type of business, there was a lot of advocacy and very little awareness on the other end. I have to say now when I have conversations, it’s largely because they’re already aware that there is a need here, they need to do something, but they’re just not sure what yet.

MARCH 2017 | THE COMMERCIAL RECORD | 13

Demonstration Project

SUSTAINABILITY AS A SELLING POINT Office, Multifamily Projects Pitch Certification

BY STEVE ADAMS | COMMERCIAL RECORD STAFF

wiss building components manufacturer Belimo approached the design of its North American headquarters in Danbury as an opportunity to save energy while showing off the performance of its products. Actuators and control valves that regulate heating and cooling systems are prominently displayed in the lobby and through ceiling cutaways at the 190,000-square-foot office, manufacturing and research facility, which was awarded LEED Gold certification in late February. “The things they make are at the forefront of energy efficiency in buildings,” said Daniel Harazim, an associate for Glastonbury-based architects S/L/A/M

Collaborative. “They are terrifically proud of the building and incorporated their products to showcase them.” Replacing a leased 88,000-square-foot facility in Danbury, the expansion project is designed to consume 48 percent less energy than a typical commercial building. It scored a maximum 19 points in LEED’s energy performance optimization category. Architects laid out the building at 33 Turner Road with office windows facing

14 | THE COMMERCIAL RECORD | MARCH 2017

south to maximize solar gains, while a rooftop overhang and vertical shades incorporated in the glass curtain wall cut cooling requirements in the warm weather months. Belimo acquired the 34-acre property and demolished the former Novo Laboratories manufacturing plant to make way for the 3-story headquarters building completed in late 2014. Collaborative workspaces with low-profile dividers between employee work stations were modeled after the company’s European offices, which are designed to maximize collaboration and efficiency. Academic projects – including the design of three new academic buildings at University of Notre Dame – have been in the forefront of S/L/A/M Collaborative’s sustainable design strategies in recent years. But Belimo’s aggressive sustainability goals reflect the higher priorities that corporate users are placing on green building as a selling point. “Technology has gotten more efficient and it’s easier to do a high-performance building today than it was 10 years ago,” Harazim said. “Things we struggled with then are second-nature today.”

LEED Ranking ‘An Added Bonus’ Engineering firm BVH Integrated Services, which has Connecticut offices in Bloomfield, recently completed a $52 million project at University of MassachusettsAmherst that’s believed to be the nation’s largest contemporary academic building made of wood. The Design Building houses the university’s Building and Construction Technology (BCT) program, Department of Agriculture and Department of Landscape Architecture and Regional Planning. The 87,000-square-foot structure designed by Leers Weinzapfel Assoc. of Boston opened to students and faculty in January and includes a wood-concrete composite floor

Swiss heating component manufacturer Belimo minimizes heat gain at its 190,000-square-foot Danbury headquarters with a rooftop overhang and vertical shades.

developed at the BCT school, said Maria Loitz, marketing director for BVH Integrated Services. 777 Main St. in Hartford attained LEED Platinum certification following its $85 million conversion from an office building by Fairfield-based Becker + Becker Assoc. Designed by Crosskey Architects, the 26-story former Hartford National Bank tower uses 55 percent less energy than a typical multifamily building. A 400-kilowatt fuel cell and a 115-kilowatt solar array generate heat, hot water and electricity without fossil fuels. High-efficiency water source heat pumps heat the apartment units, and occupancy sensors turn off lights when common areas aren’t being used. Other sustainable elements include regenerative-drive elevators, electric vehicle charging stations and Nest thermostats. Kent Schwendy, a developer who specializes in adaptive reuse projects, expects his recently-completed 72-unit Capewell Horse Nail factory lofts in Hartford to attain LEED Silver certification. Designed by Crosskey Architects of Hartford, the complex opened in December and is nearly 70 percent occupied. Retrofitting the 113-year-old factory for

Retrofitting a 113-year-old factory for energy efficiency while retaining its historic elements presented many obstacles; individual gas meters weren’t feasible because of the building’s layout, and underground heat pumps couldn’t be installed because of environmental contamination on the site. energy efficiency while retaining its historic elements presented many obstacles, Schwendy said. Individual gas meters weren’t feasible because of the building’s layout, and underground heat pumps couldn’t be installed because of environmental contamination on the site. Schwendy’s Hartford-based Corporation For Independent Living opted for water-source heat pumps in each unit, which are connected to 40 rooftop exchangers. The $26.8 million project also is expected to score LEED points for reuse of a historic building at a brownfield site, and replacement of large single-pane glass

windows with high-efficiency models. To eliminate the use of water for landscaping, the developers planted local and droughttolerant plant varieties. Schwendy said the sustainability strategies complement the appeal of the project to prospective tenants. “Some people are attracted to (the LEED goals) but the historic nature of the building is what brings people in,” Schwendy said. “Then when they learn it’s also energy-efficient, they see it as an added bonus.” n Email: sadams@thewarrengroup.com

MARCH 2017 | THE COMMERCIAL RECORD | 15

Getting Credit For Good Work

WHEN COMMUNITY INVOLVEMENT ALONE ISN’T ENOUGH Top 5 Banks Ranked For Community Contributions By Prospects

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 surveys 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 studies include over 20,000 unbiased reviews annually and institution-level results are available with a county-level subscription. In this installment, Customer Experience Solutions President and CEO Bruce Paul shares the top ranked banks – five from each county – ranked by prospects’ perception of their community involvement. 16 | THE COMMERCIAL RECORD | MARCH 2017

BY BRUCE PAUL | SPECIAL TO THE COMMERCIAL RECORD

any community banks and credit unions pride themselves on the contributions they make to their communities. This includes supporting local charities, funding scholarships, planting trees or otherwise helping their neighbors. While these great acts can certainly be their own reward, community banks also deserve public recognition for their great works. Other than the obvious benefits to the community, the contributions a bank makes to its community have two strong benefits for the bank itself. The first is the influence on prospects, or non-customers. Many prospects learn about potential banks from advertising or from community involvement. Our studies BRUCE PAUL show that advertisement is generally more effective at raising awareness among prospective customers than community works alone. Indeed, this is why many banks set aside large budgets for traditional marketing. However, our studies also show that while ads are better at driving awareness, community contribution can be more effective at driving consideration. The latest results of the CT Bank Prospect Benchmark shows that community contribution increases prospects’ consideration of your bank by an average of 136 percent. Not a bad side effect! And for smaller banks with lower awareness, the increase is even higher. The second impact that community contribution has on a bank’s business in on its current customers. When current customers see their bank’s involvement in the community, it can improve the esteem they already have for their bank. Our research has shown that the positive impact can increase customers’ loyalty to the bank, meaning they are less likely to leave and more likely to increase long-term spending with their bank. The latest CT Bank Customer Benchmark showed that recognition of community contribution increases customers’ share of wallet significantly with their bank and their long-term loyalty goes up by 91 percent. While it is probably not a big surprise to some that contribution to the community has an impact on the top and bottom lines, many banks are not actually getting the benefit they should be. Many commu-

nity banks and credit unions spend a lot of money and effort contributing to the community, but their current and potential customers simply don’t know about it. This is very frustrating to marketing and community giving leaders in some banks, and a wasted opportunity for many. It is very important to know just how much recognition you are getting for your good work, and how you can improve that ROI. The challenge for banks is breaking through the clutter to ensure your customers and prospects appreciate your contribution. In our research we saw that in one specific market, two community banks had equivalent amounts of community involvement in terms of gifts to charity, hours volunteered by their staff, sponsorships, etc. However, one of the two banks was rated almost three times higher in terms of community contribution by their respective customers and nearly four times higher by non-customers. While each bank did similar levels of community outreach effort, one was using much more efficient channels and coopting partners to get the word out. Not coincidentally, the bank with the better outreach is achieving stronger growth in its customer base and on its bottom line. The first step to getting the maximum credit (and business impact) from your community contribution is to understand how you currently stand with customers and prospects, in your specific market and in relation to your competition. We at Customer Experience Solutions are very passionate about ensuring that community banks are getting the recognition and props they deserve for their community involvement. On the next page we have listed the current top five banks in each county on community contribution, as rated by their own prospects. If you would like to know your exact scores (and the

ratings by your own customers), please contact us. The second step would be to make reasoned adjustments and tweaks to the programs to see what the impact is. A bank may need to improve its community outreach to gain greater recognition, or it may need to emphasize different types of community involvement to broaden its exposure. Spring is a time of increased giving and involvement in community affairs, so recognition can go up. The third step is to measure how much the changes have moved the needle in terms of awareness, consideration and community contribution ratings. The next wave of the CT Bank Benchmarks are in April/May and they will show how well your bank has changed its community image since the previous wave in Q4 2016. Tracking your ratings over time will show you exactly how your community contribution, and all other marketing efforts, are truly impacting how your prospects and customers view you. This will allow you to fine tune your programs so you get the maximum benefit for the bank while doing the maximum good for the community. So as the weather grows warmer, consider your community involvement activities – what are you currently doing? Are you sure you are getting the credit you deserve? What can you do differently? And most importantly, what you can you do to make sure your current and prospective customers see what you’re doing? n Bruce Paul is president and CEO of Westportbased 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

MARCH 2017 | THE COMMERCIAL RECORD | 17

TOP COMMUNITY PERFORMERS ACCORDING TO PROSPECTS, Q4 2016 FAIRFIELD

Retail

Commercial

1. 2. 3. 4. 5.

HARTFORD

Retail

Commercial

1. 2. 3. 4. 5.

1. 2. 3 4. 5.

Webster Bank People’s United Bank Savings Bank of Danbury Fairfield County Bank Connecticut Community Bank

Webster Bank Key Bank People’s United Bank TD Bank Farmington Bank

Savings Bank of Danbury Union Savings Bank Fairfield County Bank Newtown Bank People’s United Bank

Farmington Bank Webster Bank American Eagle FCU Liberty Bank Simsbury Bank

LITCHFIELD

Retail

Commercial

1. 2. 3. 4. 5.

MIDDLESEX

Retail

Commercial

1. 2. 3. 4. 5.

NEW HAVEN

Retail

Commercial

1. 2. 3. 4. 5.

Northwest Community Bank Thomaston Savings Bank Torrington Bank Litchfield Bancorp Webster Bank

Liberty Bank Essex Savings American Eagle FCU Guildford Savings Ion Bank

TD Bank Citizens Bank People’s United Bank Webster Bank Guilford Savings

18 | THE COMMERCIAL RECORD | MARCH 2017

Thomaston Savings Bank Northwest Community Bank Litchfield Bancorp Torrington Bank Union Savings Bank

Liberty Bank American Eagle FCU Guilford Savings Bank Ion Bank Farmington Bank

Webster Bank TD Bank Guilford Savings Ion Bank People’s United Bank

NEW LONDON

Retail

Commercial

1. 2. 3. 4. 5.

TOLLAND

Retail

Commercial

1. 2. 3. 4. 5.

WINDHAM

Retail

Commercial

1. 2. 3. 4. 5.

Chelsea Groton Bank People’s United Bank Dime Bank Citizens Bank Liberty Bank

United Bank Stafford Savings Savings Institute American Eagle FCU Windsor Federal

Savings Institute Putnam Bank Jewett City Savings Eastern Savings Bank CNB (Easthampton)

Chelsea Groton Bank Dime Bank Liberty Bank Putnam Bank Eastern Savings Bank

Stafford Savings Savings Institute Liberty Bank American Eagle FCU Farmington Bank

Eastern Savings Bank Putnam Bank CNB (Easthampton) Jewett City Savings Liberty Bank

Source: Customer Experience Solutions

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NEWS ROUNDUP CITIZENS LAUNCHES FINTECH PLATFORM FOR COMMERCIAL CLIENTS

AVISON YOUNG COMPLETES EIGHT LEASES FOR OVER 47.5K SF

Citizens Bank wants to play matchmaker for its commercial banking clients with a new fintech platform aimed at connecting business owners with potential partnerships. Citizens Commercial Banking last month announced it would be partnering with Opportunity Network to offer its clients access to a business-to-business networking platform. The platform intends to promote growth by connecting prospective business partners to a network of 13,500 CEOs and $35 billion of deal flow. Citizens is hoping its business clients will use the platform to find partners who can “help them expand into new markets, sell privately held enterprises, execute cross-border mergers and acquisitions and maximize global asset utilization.” In a statement, Citizens said that “Opportunity Network uses a proprietary algorithm designed to create efficiencies in global deal making by matching users’ strategic preferences with current deals on the platform.” “Opportunity Network has an attractive value proposition for midsize businesses, and this collaboration gives us yet another way to help meet the tneeds of our customers at every stage of their life cycle,” Steve Woods, Citizens’ head of corporate banking, said in a statement. “Partnering with Opportunity Network helps us address an important issue: the fact that many midsize businesses and private investors could benefit from expanded tools and networks of contacts to grow.” Garrett Smith, Opportunity Network’s founding partner and president for North America, said “It made a lot of sense for us to partner with Citizens Bank because the Citizens team is committed to leveraging innovative digital technologies – both organically and through partnerships such as ours – to create better experiences for their clients and to provide smart solutions in the areas that matter most to them.”

Avison Young and property owner Shelbourne Global Solutions LLC recently announced the closing of eight lease deals totaling more than 47,500 square feet at a class A office building in Bridgeport. COWI, a marine, coastal and geotechnical engineering consulting firm, has signed a new lease for 8,204 square feet. Other new tenants include law firms White Rose and Ryan Ryan & Deluca, Beacon Health Options and IDT Telecom, a prepaid and VolP telephony company. The law firm of Zeldes Needle Cooper and CASCO Products Corp., a global tier-I electronics supplier, also renewed leases at 1000 Lafayette Blvd. The property, built in 1989 and renovated in 2012, is GSA approved and has onsite property management, a full-service café, fitness center with locker rooms, training and conference facilities and nearly 500 covered parking spaces. Other major tenants include Citizens Bank, Office of the United States Attorneys and Regus, a global executive office solutions company. Sean Cahill, principal and managing director of Avison Young’s Fairfield/Westchester office, and Lori Baker, vice president, brokered the leases.

THE MOST VIEWED ARTICLES IN FEBRUARY • Niantic BofA Changes Hands After Decades Of Operation • Wethersfield Man Faces Decades In Prison For Phony Investments Practice • Webster Bank Manager Indicted On Embezzlement Charge • Ion Bank Names New SVPs • Webster Bank Branch Manager Admits To Pilfering Elderly Clients’ Accounts 20 | THE COMMERCIAL RECORD | MARCH 2017

• • • • •

Dental Practice Moves Into Former Manchester Burger King Patriot Bank Appoints New President 14 Towns, Cities Procure $6.9M In Brownfield Remediation Funds Law Firm Procures New Office In Downtown Hartford Black Rock Oyster Bar & Grill Sells For $1.3M

EVENTS REALOGY, GUARANTEED RATE TO ENTER INTO MORTGAGE ORIGINATION JOINT VENTURE

2017 WOMEN IN BANKING CONFERENCE Connecticut Bankers Association April 27-28, 2017 Mystic Marriott Hotel & Spa, 625 North Road, Groton, CT 06340 Who should attend: Banking and lending professionals More information: www.ctbank.com

GLOBAL COMPANY ANNOUNCES EXPANSION IN EAST HARTFORD

Realogy Holdings Corp., the largest full-service residential real estate services company in the United States, and Guaranteed Rate Inc., one of the largest independent retail mortgage companies in the country, month announced that they have agreed to form a new joint venture, Guaranteed Rate Affinity LLC, which is expected to begin doing business in June 2017. Commencement of operations is subject to the closing of an asset purchase agreement under which Guaranteed Rate Affinity will acquire certain assets of the mortgage operations of PHH Home Loans LLC, the existing joint venture between Realogy and PHH Mortgage, including its four regional mortgage origination and processing centers, its relocation division and employees across the United States. Guaranteed Rate Affinity will originate and market its mortgage lending services to Realogy’s real estate brokerage and relocation subsidiaries, respectively NRT and Cartus, as well as to other real estate brokerage and relocation companies across the country. Guaranteed Rate Affinity also will market its mortgage lending services to a broad consumer audience while leveraging its end-to-end online platform to drive growth in those markets. Guaranteed Rate will own a controlling 50.1 percent stake of Guaranteed Rate Affinity and Realogy will own 49.9 percent. The asset purchase agreement is subject to approval by PHH Corp. shareholders and certain other closing conditions and is expected to be completed in a series of asset sale closings. The initial closing is expected to occur in June 2017, and the final closing is expected to occur during the fourth quarter of 2017.

Aerospace engineering design and manufacturing firm Cyient Inc. has announced the expansion of its operations in East Hartford. Currently employing 456 full time workers in Connecticut, the company plans to add 85 full-time jobs over the next three years. “Connecticut is a leader in aerospace precision manufacturing and is home to a supply chain of over 75,000 workers that support this industry across the state,” Gov. Dannel P. Malloy said in a statement. “We are thrilled to have Cyient expand its presence in East Hartford as our entire aerospace industry ramps up across the state. Connecticut is continuing its standing as worldwide aerospace leader.” Cyient recently relocated its United States headquarters to 99 East River Drive in East Hartford. The company is expanding its delivery center another 15,500 square feet to expand its operation and accommodate employee growth over the next three years. The state will support this project with a $500,000 loan through the Department of Economic and Community Development. Cyient will use the funds to purchase machinery and equipment for the expansion. Established in 1991, Cyient has 38 locations across North America, Europe and the Asia-Pacific region. The company is a supplier to Sikorsky, Pratt & Whitney and other aerospace companies throughout Connecticut.

WEBSTER BANK BRANCH MANAGER ADMITS TO PILFERING ELDERLY CLIENTS’ ACCOUNTS A New Britain woman pleaded guilty in New Haven federal court to embezzling funds from Webster Bank Corp. According to court documents and statements made in court, Carrie Caesar, manager of Webster Bank’s Avon branch, withdrew at least $535,600 from account holders’ certificate of deposit accounts at Webster Bank, without the knowledge or consent of the account holders, over the past 13 years. She used the embezzled funds for her own purposes, and took steps to conceal her misconduct. Caesar targeted primarily six customers, all of whom were at least 79 years old and with whom she had developed a relationship

as an account manager. Caesar pleaded guilty to one count of theft, embezzlement and misapplication by a bank officer and employee, an offense that carries a maximum term of imprisonment of 30 years. She is scheduled to be sentenced on May 8, 2017, and is currently released on a $150,000 bond.

MARCH 2017 | THE COMMERCIAL RECORD | 21

TOP COMMERCIAL TRANSACTIONS Visit www.commercialrecord.com for a complete list of commercial transactions updated weekly. TOP 3 STATEWIDE 150 High St, Hartford...........................$49,000,000*

350 Church St, Hartford......................$49,000,000*

300 Shaker Rd, Enfield......................... $33,100,000

Use:..................................................Parking Garage

Use:........................................... Office Bldg-General

Use:.............................................. Industrial Building

Buyer: .............................................. SGS Metro LLC

Buyer:....................................... We 300 Shaker LLC

Seller:. Fremont Metro Center LLC & SGS Metro LLC

Seller: .Fremont Metro Center LLC & SGS Metro LLC

Seller: .............................................. NIP Owner LLC

Mtg:................. TC Debt Opportunities $40,000,000

Mtg: .................TC Debt Opportunities $40,000,000

Date:......................................................... 01/25/17

Date:.......................................................... 01/09/17

Date: ......................................................... 01/09/17

Total Assessed Value (2016): ................$13,010,820

Total Assessed Value (2016): ..................$5,681,130

Total Assessed Value (2016): ..................$8,958,740

Lot Size:.................................................. 1610413sf

Lot Size: ...................................................... 59242sf

Lot Size: ...................................................... 34045sf

Prior Sale:.................................$22,750,000 (03/13)

Prior Sale: ................................$22,750,000 (03/13)

FAIRFIELD Plumtrees Rd, Danbury................... $1,600,000 Use:..................................................Industrial Building Buyer: ......................................... Ferris Properties LLC Seller: ......................................................Plumpar LLC Mtg:.................... Newtown Savings Bank $1,200,000 Date: ............................................................ 01/19/17 Total Assessed Value (2016): ........................$747,800 Lot Size:....................................................... 239144sf Prior Sale: ........................................$525,000 (03/03)

7 Federal Rd, Brookfield................. $1,400,000 Use:............................................. Commercial Building Buyer:................................................. ECB Realty LLC Seller: ................................................Lone Acre 1 LLC Date: ............................................................ 01/09/17 Total Assessed Value (2016): .....................$1,142,620 Lot Size: ......................................................... 51836sf

27 Belltown Rd, Stamford............... $1,400,000 Use:............................................... Apartment Building Buyer: .............................................. Kolich Manor LLC Seller: ....Susan K Odonnell Ex, Ex for Keane Charles R Est Mtg:.................................... Sterling Natl Bk $980,000 Date: ............................................................ 01/18/17 Total Assessed Value (2016): ........................$683,190 Lot Size:............................................................ 9976sf

150 High St, Hartford.....................$49,000,000 Use:.....................................................Parking Garage Buyer:................................................. SGS Metro LLC Seller: ... Fremont Metro Center LLC & SGS Metro LLC Mtg: .................... TC Debt Opportunities $40,000,000 Date: ............................................................ 01/09/17 Total Assessed Value (2016):..................... $5,681,130 Lot Size:......................................................... 59242sf Prior Sale: ...................................$22,750,000 (03/13)

300 Shaker Rd, Enfield..................$33,100,000 Use:..................................................Industrial Building Buyer: ...........................................We 300 Shaker LLC Seller: ..................................................NIP Owner LLC Date:............................................................ 01/25/17 Total Assessed Value (2016): ...................$13,010,820 Lot Size: ..................................................... 1610413sf

1092 Roxbury Rd, Woodbury........... $480,000 Use:............................................ Land-Vacant & Open Buyer:................................................ William T Bahr Jr Seller: ............ Jeffrey D Comport & Donna M Comport Mtg: .................................Quicken Loan Inc $370,000 Date:............................................................ 01/09/17 Total Assessed Value (2016): ..........................$19,950 Lot Size: ....................................................... 130680sf

104 Gay St, Sharon.......................... $320,000 Use:...................................Mixed Use-Agricult & Resid Buyer: ............ Courtney Brammer & Adam C Brammer Seller:................................................... Susan G Lovell Mtg: ........................................ Susan Lovell $300,000 Date: ............................................................ 02/01/17 Total Assessed Value (2016):........................ $240,150 Lot Size: ....................................................... 156816sf

969 Killingworth Rd, Haddam.......... $365,300 Use:............................................. Commercial Building Buyer:................................ 969 Killingworth Road LLC Seller: ................................ New Image Automotive Inc Mtg: ......................................Webster Bank $360,400 Date:............................................................ 01/23/17 Total Assessed Value (2016):.........................$177,470 Lot Size: ......................................................... 32670sf Prior Sale:.......................................... $37,500 (12/10)

54 Grove St, Middletown................. $310,000 Use:............................................... Apartment Building Buyer: .................................... Amston Real Estate LLC Seller: ................................................54 Grove St LLC Date:............................................................ 01/12/17 Total Assessed Value (2016): ........................$266,170 Lot Size: ........................................................... 3920sf Prior Sale: ........................................$265,000 (11/08)

HARTFORD 350 Church St, Hartford................$49,000,000 Use:...............................................Office Bldg-General Buyer:.................................................. SGS Metro LLC Seller:... Fremont Metro Center LLC & SGS Metro LLC Mtg:.................... TC Debt Opportunities $40,000,000 Date: ............................................................ 01/09/17 Total Assessed Value (2016): .....................$8,958,740 Lot Size: ......................................................... 34045sf Prior Sale: ...................................$22,750,000 (03/13)

LITCHFIELD 106 Upper Main St, Sharon.............. $650,000 Use:............................ Mixed Use-Prim Comm & Resd Buyer: ............................... 106 Upper Main Street LLC Seller:................................................ Robert J Loucks Mtg: .................................. Robert J Loucks $550,000 Date:............................................................ 01/26/17 Total Assessed Value (2016): ........................$301,200 Lot Size:......................................................... 19602sf

MIDDLESEX Field Rd, Cromwell......................... $1,600,000 Use:..............................................................Farm Use Buyer: .................................. Larry Webster Associates Seller: .......................................... Millane Nurseries Inc Mtg: ................................................... Seller $695,000 Date: ............................................................ 01/10/17 Total Assessed Value (2016):........................ $116,940 Lot Size:..................................................... 3258288sf

*Group sales.

22 | THE COMMERCIAL RECORD | MARCH 2017

FEATURED PROPERTY 27 Belltown Rd, Stamford............................................................. $1,400,000 Use:.......................................................................................... Apartment Building Buyer: ......................................................................................... Kolich Manor LLC Seller: ........................................ Susan K Odonnell Ex, Ex for Keane Charles R Est Mtg:............................................................................... Sterling Natl Bk $980,000 Date: ........................................................................................................01/18/17 Total Assessed Value (2016): ................................................................... $683,190 Lot Size:....................................................................................................... 9976sf

NEW HAVEN 150 Manhan St, Waterbury............. $5,000,000 Use:............................................... Apartment Building Buyer: ..................................... Diamond Court CT LLC Seller:.................................. Diamond Court Realty Inc Mtg: ....................Arbor Commercial Fund $4,120,000 Date: ............................................................ 12/09/16 Total Assessed Value (2016): .....................$2,467,580 Lot Size: ....................................................... 270943sf

NEW LONDON Selden Rd, Lyme.............................. $710,000 Use:......................................................... Open Space Buyer:............................. Philip Coffino & Maria Coffino Seller: ....................... Oscar B Lubow & Miriam Lubow Date:............................................................ 01/23/17 Total Assessed Value (2016):............................... $336 Lot Size:........................................................ 160736sf

36 River St, New Haven................... $989,392 Use:..................................................Industrial Building Buyer: ......................................HHC 1 Cambridge LLC Seller:.................................. River Street Storage Corp Date:............................................................ 01/25/17 Total Assessed Value (2016):........................ $711,060 Lot Size: ....................................................... 107593sf

215 Fairfield St, New Haven............ $935,000 Use:............................................... Apartment Building Buyer: ........................................... 215 Fairfield St LLC Seller: ................... Pasquale V Melillo & Linda D Melillo Mtg: ................................Pasquale V Melillo $850,000 Date: ............................................................ 01/06/17 Total Assessed Value (2016): ........................$575,330 Lot Size:......................................................... 21501sf

26 W Main St, Groton....................... $605,000 Use:....................................... Retail-Department Store Buyer: ............................................. 26 West Main LLC Seller: .................................. Westward Properties LLC Date:............................................................ 01/10/17 Total Assessed Value (2016): ........................$282,170 Lot Size: ........................................................... 1307sf

142 Whitehall Ave, Stonington......... $462,000 Use:.............................. Mixed Use-Prim Res & Comm Buyer:...................................... DRHP Enterprises LLC Seller: .............................................. Peter G Steelman Mtg:.................................... Compass Bank $531,000 Date:............................................................ 01/19/17 Total Assessed Value (2016): ........................$501,000 Lot Size: ....................................................... 182952sf Prior Sale: ..........................................$40,000 (08/87)

57-59 High St, Vernon...................... $270,000 Use:............................................... Apartment Building Buyer: ................................ CMM Real Estate Ventures Seller: ............................................. Shannon L Barstis Mtg:.............................. Nutmeg State FCU $202,500 Date: ............................................................ 01/05/17 Total Assessed Value (2016): ........................$179,700 Lot Size: ......................................................... 17860sf Prior Sale: ..........................................$36,250 (07/16)

86 Main St, Stafford......................... $139,900 Use:....................................................... Other Exempt Buyer: ................................... American Sleeve Bearing Seller: ....................................... Safe Net Ministries Inc Date: ............................................................ 01/24/17 Total Assessed Value (2016):...........................$95,830 Lot Size: ........................................................... 4356sf Prior Sale: ........................................$105,000 (01/11)

151 Tillinghast Rd, Killingly.............. $70,000 Use:......................................... Manufacturing Building Buyer: ........................................Russell E Lavigne 2nd Seller: .............................................. Hokan H Andre Jr Mtg:.................................. Hokan H Andre Jr $65,000 Date: ............................................................ 01/12/17 Total Assessed Value (2016): ..........................$54,320 Lot Size:.......................................................... 65340sf

54-60 Aldrich Ave, Plainfield............ $69,900 Use:................................... Apartment Bldg - 4-8 Units Buyer: ............................................. Kayla K Grimshaw Seller: ......................................... Wells Fargo Bank NA Date: ............................................................ 01/18/17 Total Assessed Value (2016):........................ $114,270 Lot Size: ......................................................... 20038sf Prior Sale: ........................................$240,000 (07/08)

TOLLAND 40 Industrial Park Rd E, Tolland...... $500,000 Use:..................................................Industrial Building Buyer:...................................... Industrial Road 40 LLC Seller: .................Wayne F Gordon & Carole M Gordon Date:............................................................. 01/11/17 Total Assessed Value (2016):........................ $376,800 Lot Size: ....................................................... 123710sf

WINDHAM 87 Church St, Windham................... $299,000 Use:.................................................. Retail-Equipment Buyer:.................................. Willimantic Food Coop Inc Seller: ................................ Marchionte Properties LLC Date:............................................................ 01/24/17 Total Assessed Value (2015): ........................$211,610 Lot Size: ......................................................... 28314sf Prior Sale:........................................ $215,000 (12/91)

MARCH 2017 | THE COMMERCIAL RECORD | 23

TRENDLINES

FAIRFIELD COUNTY SALES REPORT

NUMBER OF SALES JAN 2016

JAN %CHG 2016 2017 16-17 YTD

2017 YTD

MEDIAN PRICE %CHG 16-17

JAN 2016

JAN %CHG 2016 2017 16-17 YTD

2017 %CHG YTD 16-17

BETHEL 1 Family

1 2

-33.33%

Condo

150.00%

2 1

4.76%

$307,000

$298,750

All Sales

$273,500 N/A

$298,750 $172,500

9.23% N/A

$273,500 N/A

$298,750

9.23%

$172,500

N/A -2.69%

-2.69%

$307,000

$298,750

BRIDGEPORT 1 Family

2 6

76.92%

$151,950

$162,500

6.94%

$151,950

$162,500

6.94%

Condo

1 2

66.67%

$65,500

$79,880

21.95%

$65,500

$79,880

21.95%

104

40.54%

104

40.54%

$100,775

$144,875

43.76%

$100,775

$144,875

43.76%

$299,000

$428,000

43.14%

$299,000

$428,000

43.14%

All Sales

7 4

BROOKFIELD 1 Family

1 3

-38.46%

Condo

100.00%

1 9

0.00%

$260,000

$302,000

1 Family

2 5

36.00%

$288,000

Condo

1 9

52.63%

$158,000

5 8

36.21%

1 Family

2 3

-39.13%

Condo

0 -100.00%

-100.00%

All Sales

N/A

$192,000

N/A

$192,000

N/A 16.15%

16.15%

$260,000

$302,000

$281,950

-2.10%

$288,000

$281,950

-2.10%

$187,500

18.67%

$158,000

$187,500

18.67%

$263,000

$232,000

-11.79%

$263,000

$232,000 -11.79%

$1,190,000

$1,340,000

DANBURY

All Sales

DARIEN

All Sales

N/A

3 0

-46.67%

$1,375,000

$1,452,500

1 Family

50.00%

$530,000

$430,000

Condo

20.00%

$410,000

$430,000

12.61% $1,190,000 N/A

N/A

5.64% $1,375,000

$1,340,000 N/A $1,452,500

12.61% N/A 5.64%

EASTON

All Sales

N/A

-18.87% N/A

$530,000 N/A

$430,000 -18.87% N/A

4.88%

$410,000

$430,000

N/A 4.88%

FAIRFIELD 1 Family

2 0

110.00%

$647,500

$627,000

-3.17%

$647,500

$627,000

-3.17%

Condo

0.00%

$278,250

$343,500

23.45%

$278,250

$343,500

23.45%

3 4

70.59%

$609,500

$587,000

-3.69%

$609,500

$587,000

-3.69%

25.20% $1,220,000

$1,527,500

25.20%

All Sales

GREENWICH 1 Family

2 0

10.00%

$1,220,000

$1,527,500

Condo

22.22%

$760,700

$795,000

3 4

17.65%

$1,050,000

$1,287,500

1 Family

1 1

9.09%

$275,000

$329,000

19.64%

Condo

33.33%

$221,500

$172,500

-22.12%

1 6

31.25%

$282,450

$240,000

-15.03%

All Sales

4.51%

$760,700

$795,000

4.51%

22.62% $1,050,000

$1,287,500

22.62%

$275,000

$329,000

19.64%

$221,500

$172,500 -22.12%

$282,450

$240,000 -15.03%

MONROE

All Sales

NEW CANAAN 1 Family

1 5

0.00%

$1,500,000

$1,550,000

Condo

-40.00%

$783,000

$366,250

2 3

-21.74%

$1,400,000

$1,350,000

-16.67%

$345,000

$367,500

All Sales

3.33% $1,500,000 -53.22%

$783,000

-3.57% $1,400,000

$1,550,000

3.33%

$366,250 -53.22% $1,350,000

-3.57%

$367,500

6.52%

NEW FAIRFIELD 1 Family

1 2

Condo

1 5

-26.67%

$330,000

$310,000

-6.06%

$330,000

$310,000

-11.11%

$370,000

$310,000

-16.22%

$370,000

$310,000 -16.22%

All Sales

N/A

6.52% N/A

$345,000 N/A

N/A

N/A -6.06%

NEWTOWN 1 Family

2 7

Condo

3 0

All Sales

N/A 10.00%

24 | THE COMMERCIAL RECORD | MARCH 2017

N/A $370,000

N/A $325,000

N/A -12.16%

N/A $370,000

N/A

$325,000 -12.16%

Real estate & credit transactions updated every Thursday

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NUMBER OF SALES JAN 2016

JAN %CHG 2016 2017 16-17 YTD

2017 YTD

MEDIAN PRICE %CHG 16-17

JAN 2016

JAN %CHG 2016 2017 16-17 YTD

2017 %CHG YTD 16-17

NORWALK 1 Family

4 2

19.05%

$399,100

$426,000

6.74%

$399,100

$426,000

Condo

1 4

42.86%

$311,250

$223,750

-28.11%

$311,250

$223,750 -28.11%

6 8

30.88%

$374,500

$376,000

0.40%

$374,500

$376,000

1 Family

200.00%

$476,000

$422,500

-11.24%

$476,000

$422,500 -11.24%

Condo

0 -100.00%

-100.00%

85.71%

$447,000

$395,000

-11.63%

$447,000

$395,000 -11.63%

$546,250

$665,000

21.74%

$546,250

$665,000

All Sales

6.74% 0.40%

REDDING

All Sales

N/A

RIDGEFIELD 1 Family

1 6

18.75%

Condo

200.00%

1 7

35.29%

$572,500

$635,000

10.92%

1 Family

1 5

-13.33%

$314,900

$288,000

Condo

50.00%

$146,500

2 2

31.82%

$239,000

$315,000

0.00%

$435,000

$425,000

All Sales

N/A

$313,500

N/A

21.74%

$313,500

N/A

$572,500

$635,000

10.92%

-8.54%

$314,900

$288,000

-8.54%

$342,000 133.45%

$146,500

$342,000 133.45%

31.80%

$239,000

$315,000

31.80%

-2.30%

$435,000

$425,000

-2.30%

SHELTON

All Sales

SHERMAN 1 Family

Condo

25.00%

$380,000

$338,200

All Sales

N/A

-11.00%

$380,000

$338,200 -11.00%

STAMFORD 1 Family

4 6

-13.04%

$533,100

$503,500

-5.55%

$533,100

$503,500

-5.55%

Condo

3 4

2.94%

$245,000

$280,000

14.29%

$245,000

$280,000

14.29%

1 05

-9.52%

105

-9.52%

$410,000

$425,000

3.66%

$410,000

$425,000

3.66%

All Sales

STRATFORD 1 Family

3 8

18.42%

$197,000

$218,000

10.66%

$197,000

$218,000

10.66%

Condo

1 0

-40.00%

$168,500

$222,500

32.05%

$168,500

$222,500

32.05%

-1.64%

$199,900

$230,000

15.06%

$199,900

$230,000

15.06%

$370,000

$345,000

-6.76%

$370,000

$345,000

-6.76%

All Sales

6 1

TRUMBULL 1 Family

3 0

-20.00%

Condo

200.00%

3 2

-6.25%

$367,500

$332,500

-9.52%

1 Family

100.00%

$610,000

$681,650

11.75%

Condo

75.00%

All Sales

N/A

$160,000

N/A

$160,000

N/A

$367,500

$332,500

-9.52%

$610,000

$681,650

11.75%

WESTON

All Sales

N/A

75.00%

$471,650

$613,299

N/A 30.03%

N/A

$471,650

$613,299

30.03%

7.78% $1,272,500

$1,371,443

7.78%

WESTPORT 1 Family

2 4

-8.33%

$1,272,500

$1,371,443

Condo

-33.33%

$742,500

$498,500

-32.86%

$742,500

$498,500 -32.86%

3 4

-8.82%

$1,156,250

$915,000

-20.86% $1,156,250

$915,000 -20.86%

1 Family

250.00%

$1,057,500

$703,188

-33.50% $1,057,500

$703,188 -33.50%

Condo

0 -100.00%

-100.00%

75.00%

$1,057,500

$703,188

All Sales

WILTON

All Sales

N/A

-33.50% $1,057,500

N/A

$703,188 -33.50%

FAIRFIELD COUNTY 1 Family

4 33

489

12.93%

433

489

12.93%

$400,000

$416,000

4.00%

$400,000

$416,000

Condo

1 35

163

20.74%

135

163

20.74%

$232,500

$240,000

3.23%

$232,500

$240,000

3.23%

823

14.15%

721

823

14.15%

$350,000

$342,061

-2.27%

$350,000

$342,061

-2.27%

All Sales

7 21

4.00%

MARCH 2017 | THE COMMERCIAL RECORD | 25

TRENDLINES

HARTFORD COUNTY SALES REPORT

NUMBER OF SALES JAN 2016

JAN %CHG 2016 2017 16-17 YTD

2017 YTD

1 0 6 1 6

18 4 23

80.00% -33.33% 43.75%

10 6 16

6 1 7

10 4 20

66.67% 300.00% 185.71%

1 1 4 1 6

21 2 27

2 3 2 3 7

MEDIAN PRICE %CHG 16-17

JAN 2016

JAN %CHG 2016 2017 16-17 YTD

2017 %CHG YTD 16-17

18 4 23

80.00% -33.33% 43.75%

$360,000 $187,500 $275,500

$350,225 $185,000 $315,000

6 1 7

10 4 20

66.67% 300.00% 185.71%

$283,500 N/A $277,000

$277,000 $214,800 $205,000

90.91% -50.00% 68.75%

11 4 16

21 2 27

90.91% -50.00% 68.75%

$145,000 $112,500 $145,500

$149,900 3.38% N/A -100.00% $150,000 3.09%

49 4 62

113.04% 100.00% 67.57%

23 2 37

49 4 62

113.04% 100.00% 67.57%

$146,000 N/A $140,000

$174,700 $83,250 $167,450

2 0 3

12 0 16

500.00% N/A 433.33%

2 0 3

12 0 16

500.00% N/A 433.33%

N/A N/A $279,000

$277,000 N/A N/A N/A N/A N/A $356,500 27.78% $279,000

$277,000 N/A N/A N/A $356,500 27.78%

5 2 8

13 4 20

160.00% 100.00% 150.00%

5 2 8

13 4 20

160.00% 100.00% 150.00%

$269,000 N/A $247,000

$360,000 $140,500 $311,000

33.83% $269,000 N/A N/A 25.91% $247,000

$360,000 $140,500 $311,000

4 3 8

33.33% 200.00% 60.00%

3 1 5

4 3 8

33.33% 200.00% 60.00%

$295,000 N/A $277,900

$272,500 $98,365 $185,150

-7.63% $295,000 N/A N/A -33.38% $277,900

$272,500 -7.63% $98,365 N/A $185,150 -33.38%

33 32 77

13.79% 966.67% 79.07%

29 3 43

33 32 77

13.79% 966.67% 79.07%

$146,500 $143,601 $143,601

$128,900 $61,250 $90,200

-12.01% -57.35% -37.19%

$128,900 -12.01% $61,250 -57.35% $90,200 -37.19%

4 0 7

9 3 19

125.00% N/A 171.43%

4 0 7

9 3 19

125.00% N/A 171.43%

$160,000 N/A $99,000

$152,900 $118,000 $152,900

-4.44% $160,000 N/A N/A 54.44% $99,000

$152,900 $118,000 $152,900

-4.44% N/A 54.44%

2 2 6 3 5

40 9 58

81.82% 50.00% 65.71%

22 6 35

40 9 58

81.82% 50.00% 65.71%

$162,950 $114,500 $147,900

$164,750 $136,000 $167,250

1.10% 18.78% 13.08%

$162,950 $114,500 $147,900

$164,750 $136,000 $167,250

1.10% 18.78% 13.08%

15 9 28

-16.67% -35.71% -15.15%

18 14 33

15 9 28

-16.67% -35.71% -15.15%

$257,755 $175,000 $235,000

$294,000 $153,000 $260,000

14.06% -12.57% 10.64%

$257,755 $175,000 $235,000

$294,000 14.06% $153,000 -12.57% $260,000 10.64%

1 7 1 0 3 0

31 6 45

82.35% -40.00% 50.00%

17 10 30

31 6 45

82.35% -40.00% 50.00%

$317,000 $194,000 $269,125

$270,000 $133,000 $225,000

-14.83% -31.44% -16.40%

$317,000 $194,000 $269,125

$270,000 -14.83% $133,000 -31.44% $225,000 -16.40%

6 1 9

8 3 11

33.33% 200.00% 22.22%

6 1 9

8 3 11

33.33% 200.00% 22.22%

$185,000 N/A $190,000

$215,000 $162,500 $209,000

16 10 62

-15.79% 25.00% 8.77%

19 8 57

16 10 62

-15.79% 25.00% 8.77%

$87,700 $28,150 $110,000

$145,250 65.62% $72,500 157.55% $121,000 10.00%

4 0 4

100.00% N/A 100.00%

2 0 2

4 0 4

100.00% N/A 100.00%

AVON 1 Family Condo All Sales

-2.72% -1.33% 14.34%

$360,000 $187,500 $275,500

$350,225 $185,000 $315,000

-2.72% -1.33% 14.34%

BERLIN 1 Family Condo All Sales

-2.29% $283,500 N/A N/A -25.99% $277,000

$277,000 -2.29% $214,800 N/A $205,000 -25.99%

BLOOMFIELD 1 Family Condo All Sales

$145,000 $112,500 $145,500

$149,900 3.38% N/A - 100.00% $150,000 3.09%

BRISTOL 1 Family Condo All Sales

19.66% $146,000 N/A N/A 19.61% $140,000

$174,700 $83,250 $167,450

19.66% N/A 19.61%

BURLINGTON 1 Family Condo All Sales

CANTON 1 Family Condo All Sales

33.83% N/A 25.91%

EAST GRANBY 1 Family Condo All Sales

3 1 5

EAST HARTFORD 1 Family Condo All Sales

2 9 3 4 3

$146,500 $143,601 $143,601

EAST WINDSOR 1 Family Condo All Sales

ENFIELD 1 Family Condo All Sales

FARMINGTON 1 Family Condo All Sales

1 8 1 4 3 3

GLASTONBURY 1 Family Condo All Sales

GRANBY 1 Family Condo All Sales

16.22% $185,000 N/A N/A 10.00% $190,000

$215,000 $162,500 $209,000

16.22% N/A 10.00%

HARTFORD 1 Family Condo All Sales

1 9 8 5 7

$87,700 $28,150 $110,000

$145,250 65.62% $72,500 157.55% $121,000 10.00%

HARTLAND 1 Family Condo All Sales

2 0 2

26 | THE COMMERCIAL RECORD | MARCH 2017

N/A N/A N/A

$283,750 N/A $283,750

N/A N/A N/A

$283,750 N/A $283,750

N/A N/A N/A

Real estate & credit transactions updated every Thursday

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NUMBER OF SALES JAN 2016

JAN %CHG 2016 2017 16-17 YTD

2017 YTD

MEDIAN PRICE %CHG 16-17

JAN 2016

JAN %CHG 2016 2017 16-17 YTD

2017 %CHG YTD 16-17

MANCHESTER 1 Family Condo All Sales

2 4 7 3 9

41 8 56

70.83% 14.29% 43.59%

24 7 39

41 8 56

70.83% 14.29% 43.59%

$164,500 $117,000 $164,000

$158,000 $63,500 $157,750

13 0 13

225.00% N/A 160.00%

4 0 5

13 0 13

18 6 49

-10.00% 20.00% 8.89%

20 5 45

20 9 36

11.11% 80.00% 44.00%

12 3 26

-3.95% -45.73% -3.81%

$164,500 $117,000 $164,000

$158,000 -3.95% $63,500 -45.73% $157,750 -3.81%

225.00% N/A 160.00%

$301,000 N/A $287,000

$291,000 N/A $291,000

-3.32% $301,000 N/A N/A 1.39% $287,000

$291,000 -3.32% N/A N/A $291,000 1.39%

18 6 49

-10.00% 20.00% 8.89%

$132,500 $74,900 $122,449

$133,500 $109,406 $147,340

0.75% 46.07% 20.33%

$132,500 $74,900 $122,449

$133,500 $109,406 $147,340

0.75% 46.07% 20.33%

18 5 25

20 9 36

11.11% 80.00% 44.00%

$186,750 $138,000 $176,500

$204,500 $138,000 $191,500

9.50% 0.00% 8.50%

$186,750 $138,000 $176,500

$204,500 $138,000 $191,500

9.50% 0.00% 8.50%

200.00% -25.00% 85.71%

4 4 14

12 3 26

200.00% -25.00% 85.71%

$197,500 $150,500 $169,050

$221,500 $123,000 $227,500

12.15% -18.27% 34.58%

$197,500 $150,500 $169,050

$221,500 12.15% $123,000 -18.27% $227,500 34.58%

8 12 23

33.33% 100.00% 76.92%

6 6 13

8 12 23

33.33% 100.00% 76.92%

$260,950 $139,000 $187,000

$407,450 $109,950 $263,000

56.14% -20.90% 40.64%

$260,950 $139,000 $187,000

$407,450 56.14% $109,950 -20.90% $263,000 40.64%

21 7 29

90.91% 133.33% 93.33%

11 3 15

21 7 29

90.91% 133.33% 93.33%

$275,000 $350,000 $335,000

$291,000 $150,000 $230,000

5.82% -57.14% -31.34%

$275,000 $350,000 $335,000

$291,000 5.82% $150,000 -57.14% $230,000 -31.34%

7 5 17

-63.16% -16.67% -39.29%

19 6 28

7 5 17

-63.16% -16.67% -39.29%

$250,000 $134,500 $250,000

$269,900 $178,000 $210,000

7.96% 32.34% -16.00%

$250,000 $134,500 $250,000

$269,900 7.96% $178,000 32.34% $210,000 -16.00%

2 1 7 3 6

19 2 32

-9.52% -71.43% -11.11%

21 7 36

19 2 32

-9.52% -71.43% -11.11%

$240,000 $254,900 6.21% $112,000 -100.00% $179,750 $199,500 10.99%

6 4 1 4

2 3 12

-66.67% -25.00% -14.29%

6 4 14

2 3 12

-66.67% -25.00% -14.29%

$211,950 $192,500 $204,000

N/A -100.00% $181,000 -5.97% $162,500 -20.34%

$211,950 $192,500 $204,000

N/A - 100.00% $181,000 -5.97% $162,500 -20.34%

44 8 61

12.82% -20.00% 17.31%

39 10 52

44 8 61

12.82% -20.00% 17.31%

$305,000 $132,250 $252,500

$289,000 $194,500 $264,000

$305,000 $132,250 $252,500

$289,000 $194,500 $264,000

-5.25% 47.07% 4.55%

2 2 1 2 6

29 3 34

31.82% 200.00% 30.77%

22 1 26

29 3 34

31.82% 200.00% 30.77%

$231,000 N/A $226,000

$240,000 $147,000 $240,000

3.90% N/A 6.19%

2 2 9 3 3

25 1 29

13.64% -88.89% -12.12%

22 9 33

25 1 29

13.64% -88.89% -12.12%

$181,250 $100,000 $175,000

$224,000 23.59% N/A -100.00% $224,000 28.00%

$181,250 $100,000 $175,000

$224,000 23.59% N/A - 100.00% $224,000 28.00%

7 3 11

-41.67% -25.00% -45.00%

12 4 20

7 3 11

-41.67% -25.00% -45.00%

$154,750 $127,950 $162,500

$170,000 $90,000 $165,000

9.85% -29.66% 1.54%

$154,750 $127,950 $162,500

$170,000 9.85% $90,000 -29.66% $165,000 1.54%

35.56% 26.36% 34.92%

405 129 673

549 163 908

35.56% 26.36% 34.92%

$201,000 $138,000 $176,000

$212,000 $119,900 $187,000

5.47% -13.12% 6.25%

$201,000 $138,000 $176,000

$212,000 5.47% $119,900 -13.12% $187,000 6.25%

MARLBOROUGH 1 Family Condo All Sales

4 0 5

NEW BRITAIN 1 Family Condo All Sales

2 0 5 4 5

NEWINGTON 1 Family Condo All Sales

1 8 5 2 5

PLAINVILLE 1 Family Condo All Sales

4 4 1 4

ROCKY HILL 1 Family Condo All Sales

6 6 1 3

SIMSBURY 1 Family Condo All Sales

1 1 3 1 5

SOUTH WINDSOR 1 Family Condo All Sales

1 9 6 2 8

SOUTHINGTON 1 Family Condo All Sales

SUFFIELD 1 Family Condo All Sales

WEST HARTFORD 1 Family Condo All Sales

3 9 1 0 5 2

-5.25% 47.07% 4.55%

WETHERSFIELD 1 Family Condo All Sales

3.90% $231,000 N/A N/A 6.19% $226,000

WINDSOR 1 Family Condo All Sales

WINDSOR LOCKS 1 Family Condo All Sales

1 2 4 2 0

HARTFORD COUNTY 1 Family Condo All Sales

4 05 1 29 6 73

549 163 908

MARCH 2017 | THE COMMERCIAL RECORD | 27

TRENDLINES

LITCHFIELD COUNTY SALES REPORT

NUMBER OF SALES DEC 2016

DEC %CHG 2016 2017 16-17 YTD

MEDIAN PRICE

2017 YTD

%CHG 16-17

DEC 2016

DEC %CHG 2016 2017 16-17 YTD

2017 %CHG YTD 16-17

BARKHAMSTED 1 Family Condo All Sales

2 0 3

3 0 4

50.00% N/A 33.33%

2 0 3

3 0 4

50.00% N/A 33.33%

N/A N/A $260,000

$265,000 N/A N/A N/A N/A N/A $217,500 -16.35% $260,000

$265,000 N/A N/A N/A $217,500 -16.35%

2 0 2

-33.33% N/A -33.33%

3 0 3

2 0 2

-33.33% N/A -33.33%

$154,900 N/A $154,900

N/A -100.00% $154,900 N/A N/A N/A N/A -100.00% $154,900

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

1 0 1

2 0 2

100.00% N/A 100.00%

1 0 1

2 0 2

100.00% N/A 100.00%

N/A N/A N/A

0 0 0

N/A N/A N/A

0 0 0

N/A N/A N/A

1 0 1

0.00% N/A 0.00%

1 0 1

0.00% N/A 0.00%

N/A N/A N/A

2 0 2

5 0 5

150.00% N/A 150.00%

2 0 2

5 0 5

150.00% N/A 150.00%

N/A N/A N/A

$220,000 N/A $220,000

N/A N/A N/A

$220,000 N/A $220,000

N/A N/A N/A

3 0 4

5 0 6

66.67% N/A 50.00%

3 0 4

5 0 6

66.67% N/A 50.00%

$170,000 N/A $152,000

$320,000 88.24% $170,000 N/A N/A N/A $332,500 118.75% $152,000

$320,000 88.24% N/A N/A $332,500 118.75%

$310,000 N/A $340,000

$249,000 -19.68% $310,000 N/A N/A N/A $249,000 -26.76% $340,000

$249,000 -19.68% N/A N/A $249,000 -26.76%

N/A N/A $258,500

BETHLEHEM 1 Family Condo All Sales

3 0 3

BRIDGEWATER 1 Family Condo All Sales

CANAAN 1 Family Condo All Sales

COLEBROOK 1 Family Condo All Sales

1 0 1

CORNWALL 1 Family Condo All Sales

GOSHEN 1 Family Condo All Sales

HARWINTON 1 Family Condo All Sales

4 1 5

5 25.00% 0 -100.00% 5 0.00%

4 1 5

5 0 5

25.00% -100.00% 0.00%

1 0 1

1 0 4

0.00% N/A 300.00%

1 0 1

1 0 4

0.00% N/A 300.00%

N/A N/A N/A

3 0 5

6 2 11

100.00% N/A 120.00%

3 0 5

6 2 11

100.00% N/A 120.00%

$175,000 N/A $149,900

0 0 0

1 0 1

N/A N/A N/A

0 0 0

1 0 1

N/A N/A N/A

5 0 6

66.67% N/A 20.00%

3 0 5

5 0 6

66.67% N/A 20.00%

$225,000 N/A $225,000

$237,000 N/A $215,375

17 3 25

30 2 37

76.47% -33.33% 48.00%

$249,500 $151,001 $215,000

$268,250 7.52% N/A -100.00% $255,000 18.60%

2 0 3

1 0 2

-50.00% N/A -33.33%

N/A N/A $196,500

KENT 1 Family Condo All Sales

N/A N/A N/A

LITCHFIELD 1 Family Condo All Sales

$229,000 30.86% $175,000 N/A N/A N/A $195,000 30.09% $149,900

$229,000 30.86% N/A N/A $195,000 30.09%

MORRIS 1 Family Condo All Sales

N/A N/A N/A

NEW HARTFORD 1 Family Condo All Sales

3 0 5

5.33% $225,000 N/A N/A -4.28% $225,000

$237,000 5.33% N/A N/A $215,375 -4.28%

NEW MILFORD 1 Family Condo All Sales

1 7 3 2 5

30 2 37

2 0 3

1 0 2

76.47% -33.33% 48.00%

$249,500 $268,250 7.52% $151,001 -100.00% $215,000 $255,000 18.60%

NORFOLK 1 Family Condo All Sales

-50.00% N/A -33.33%

28 | THE COMMERCIAL RECORD | MARCH 2017

N/A N/A N/A N/A N/A N/A N/A -100.00% $196,500

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

Real estate & credit transactions updated every Thursday

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NUMBER OF SALES JAN 2016

JAN %CHG 2016 2017 16-17 YTD

2017 YTD

MEDIAN PRICE %CHG 16-17

JAN 2016

JAN %CHG 2016 2017 16-17 YTD

2017 %CHG YTD 16-17

NORTH CANAAN 1 Family

Condo

All Sales

100.00%

-50.00%

N/A

100.00% N/A

N/A

-50.00%

$160,000 -100.00%

-10.31%

$179,500

N/A -100.00%

$140,000

PLYMOUTH 1 Family

125.00%

$179,500

Condo

0 -100.00%

-100.00%

$140,000

12.50%

$162,950

1 Family

50.00%

Condo

-25.00%

200.00%

All Sales

$161,000 $161,000

-1.20%

$162,950

$161,000 -10.31% N/A -100.00% $161,000

-1.20%

ROXBURY

All Sales

N/A

N/A N/A $765,500

$800,000 N/A $800,000

N/A

4.51%

$765,500

$800,000 N/A $800,000

N/A N/A 4.51%

SALISBURY 1 Family

Condo

400.00%

N/A

1 Family

0 -100.00%

-100.00%

N/A

Condo

N/A

0.00%

N/A

300.00%

All Sales

N/A

N/A N/A

$506,000

N/A

N/A $506,000

$506,000 N/A $506,000

N/A N/A N/A

SHARON

All Sales

N/A

THOMASTON 1 Family

Condo

400.00%

All Sales

N/A

N/A N/A N/A

$121,000 N/A $134,000

N/A

$121,000 N/A

N/A N/A

$134,000

N/A

$119,900

-4.61%

TORRINGTON 1 Family

1 4

78.57%

$125,700

$119,900

-4.61%

$125,700

Condo

0.00%

$108,000

$72,000

-33.33%

$108,000

2 6

73.08%

$117,000

$109,000

-6.84%

$117,000

$109,000

-6.84%

1 Family

200.00%

$498,609

N/A

$498,609

N/A

Condo

0.00%

$260,000

$498,609

100.00%

$1,183,750

$1,005,000

All Sales

$72,000 -33.33%

WARREN

All Sales

N/A

N/A 91.77%

N/A $260,000

N/A $498,609

N/A 91.77%

WASHINGTON 1 Family

Condo

125.00%

All Sales

N/A

-15.10% $1,183,750 N/A

N/A

$1,005,000 -15.10% N/A

N/A

125.00%

$1,183,750

$610,000

-48.47% $1,183,750

$610,000 -48.47%

$161,950

-21.00%

$205,000

$161,950 -21.00%

N/A -100.00%

$170,000

N/A -100.00%

WATERTOWN 1 Family

1 3

-46.15%

$205,000

Condo

-75.00%

$170,000

1 9

-42.11%

$185,000

$161,950

-12.46%

$185,000

$161,950 -12.46%

$128,000

$146,250

14.26%

$128,000

$146,250

All Sales

WINCHESTER 1 Family

0.00%

Condo

0.00%

1 4

-7.14%

$115,000

$127,500

10.87%

$115,000

$127,500

10.87%

$299,500

$270,000

-9.85%

$299,500

$270,000

-9.85%

$63,335

N/A

All Sales

N/A

14.26% N/A

WOODBURY 1 Family

25.00%

Condo

400.00%

37.50%

$147,625

$130,000

All Sales

N/A

$63,335

N/A

-11.94%

$147,625

$130,000 -11.94% $217,450

LITCHFIELD COUNTY 1 Family

9 7

144

48.45%

144

48.45%

$205,000

$217,450

6.07%

$205,000

Condo

2 0

-5.00%

$144,250

$71,250

-50.61%

$144,250

1 52

204

34.21%

152

204

34.21%

$168,500

$185,000

9.79%

$168,500

All Sales

6.07%

$71,250 -50.61% $185,000

9.79%

MARCH 2017 | THE COMMERCIAL RECORD | 29

TRENDLINES

MIDDLESEX COUNTY SALES REPORT

NUMBER OF SALES JAN 2016

JAN %CHG 2016 2017 16-17 YTD

MEDIAN PRICE

2017 YTD

%CHG 16-17

JAN 2016

JAN %CHG 2016 2017 16-17 YTD

2017 %CHG YTD 16-17

3 0 4

2 0 3

-33.33% N/A -25.00%

$195,000 N/A $190,000

N/A -100.00% $195,000 N/A N/A N/A $268,000 41.05% $190,000

N/A - 100.00% N/A N/A $268,000 41.05%

CHESTER 1 Family Condo All Sales

3 0 4

2 0 3

-33.33% N/A -25.00%

1 1 2 1 9

15 7 26

36.36% 250.00% 36.84%

11 2 19

15 7 26

36.36% 250.00% 36.84%

$325,000 N/A $271,000

$257,280 $118,000 $209,650

-20.84% $325,000 N/A N/A -22.64% $271,000

$257,280 -20.84% $118,000 N/A $209,650 -22.64%

6 15 23

-40.00% 114.29% 35.29%

10 7 17

6 15 23

-40.00% 114.29% 35.29%

$193,500 $148,000 $184,900

$235,000 $127,000 $150,000

21.45% -14.19% -18.88%

$235,000 21.45% $127,000 -14.19% $150,000 -18.88%

6 1 9

2 2 4

-66.67% 100.00% -55.56%

6 1 9

2 2 4

-66.67% 100.00% -55.56%

$217,000 N/A $222,000

N/A -100.00% $217,000 N/A N/A N/A $164,000 -26.13% $222,000

N/A - 100.00% N/A N/A $164,000 -26.13%

6 1 7

6 0.00% 0 -100.00% 7 0.00%

6 1 7

6 0 7

0.00% -100.00% 0.00%

$180,000 N/A $180,000

$335,500 86.39% $180,000 N/A N/A N/A $304,000 68.89% $180,000

$335,500 86.39% N/A N/A $304,000 68.89%

CLINTON 1 Family Condo All Sales

CROMWELL 1 Family Condo All Sales

1 0 7 1 7

$193,500 $148,000 $184,900

DEEP RIVER 1 Family Condo All Sales

DURHAM 1 Family Condo All Sales

EAST HADDAM 1 Family Condo All Sales

3 0 5

11 1 13

266.67% N/A 160.00%

3 0 5

11 1 13

266.67% N/A 160.00%

$179,000 N/A $162,000

$200,000 11.73% $179,000 N/A N/A N/A $195,000 20.37% $162,000

$200,000 11.73% N/A N/A $195,000 20.37%

8 0 9

14 0 17

75.00% N/A 88.89%

8 0 9

14 0 17

75.00% N/A 88.89%

$282,500 N/A $275,000

$207,550 -26.53% $282,500 N/A N/A N/A $195,100 -29.05% $275,000

$207,550 -26.53% N/A N/A $195,100 -29.05%

2 3 8

6 1 12

200.00% -66.67% 50.00%

2 3 8

6 1 12

200.00% -66.67% 50.00%

N/A $215,000 $221,500

$283,100 N/A N/A N/A -100.00% $215,000 $174,950 -21.02% $221,500

$283,100 N/A N/A - 100.00% $174,950 -21.02%

4 0 4

6 0 16

50.00% N/A 300.00%

4 0 4

6 0 16

50.00% N/A 300.00%

$414,000 N/A $414,000

$206,000 -50.24% $414,000 N/A N/A N/A $204,500 -50.60% $414,000

$206,000 -50.24% N/A N/A $204,500 -50.60%

4 0 5

100.00% N/A 150.00%

2 0 2

4 0 5

100.00% N/A 150.00%

N/A N/A N/A

$326,750 N/A $308,000

4 0 7

33.33% N/A 75.00%

3 0 4

4 0 7

33.33% N/A 75.00%

$237,500 N/A $321,250

$279,500 17.68% $237,500 N/A N/A N/A $347,000 8.02% $321,250

$279,500 17.68% N/A N/A $347,000 8.02%

$181,143 $104,000 $145,000

$181,143 11.82% $104,000 -24.36% $145,000 -9.38%

EAST HAMPTON 1 Family Condo All Sales

ESSEX 1 Family Condo All Sales

HADDAM 1 Family Condo All Sales

KILLINGWORTH 1 Family Condo All Sales

2 0 2

N/A N/A N/A

MIDDLEFIELD 1 Family Condo All Sales

3 0 4

MIDDLETOWN 1 Family Condo All Sales

1 5 6 2 5

26 13 47

73.33% 116.67% 88.00%

15 6 25

26 13 47

73.33% 116.67% 88.00%

$162,000 $137,500 $160,000

14 1 16

250.00% -50.00% 33.33%

4 2 12

14 1 16

250.00% -50.00% 33.33%

$1,607,500 N/A $157,643

6 2 10

-33.33% N/A -9.09%

9 0 11

6 2 10

-33.33% N/A -9.09%

11.82% -24.36% -9.38%

$162,000 $137,500 $160,000

OLD SAYBROOK 1 Family Condo All Sales

4 2 1 2

$327,500 -79.63% $1,607,500 N/A N/A N/A $327,500 107.75% $157,643

$327,500 -79.63% N/A N/A $327,500 107.75%

$194,750 N/A $194,750

$194,750 -8.65% N/A N/A $194,750 -9.42%

PORTLAND 1 Family Condo All Sales

9 0 1 1

30 | THE COMMERCIAL RECORD | MARCH 2017

$213,200 N/A $215,000

-8.65% $213,200 N/A N/A -9.42% $215,000

Real estate & credit transactions updated every Thursday

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NUMBER OF SALES JAN 2016

JAN %CHG 2016 2017 16-17 YTD

2017 YTD

MEDIAN PRICE %CHG 16-17

JAN 2016

JAN %CHG 2016 2017 16-17 YTD

2017 %CHG YTD 16-17

$295,000 N/A $290,000

N/A -100.00% $295,000 N/A N/A N/A $229,519 -20.86% $290,000

N/A - 100.00% N/A N/A $229,519 -20.86%

$239,500 $149,000 $211,000

$232,750 $117,750 $199,000

$232,750 -2.82% $117,750 -20.97% $199,000 -5.69%

WESTBROOK 1 Family Condo All Sales

5 0 6

2 0 5

-60.00% N/A -16.67%

5 0 6

2 0 5

91 22 142

124 42 211

-60.00% N/A -16.67%

MIDDLESEX COUNTY 1 Family Condo All Sales

9 1 2 2 1 42

124 42 211

36.26% 90.91% 48.59%

-2.82% -20.97% -5.69%

$239,500 $149,000 $211,000

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MARCH 2017 | THE COMMERCIAL RECORD | 31

TRENDLINES

NEW HAVEN COUNTY SALES REPORT

NUMBER OF SALES JAN 2016

JAN %CHG 2016 2017 16-17 YTD

MEDIAN PRICE

2017 YTD

%CHG 16-17

2 0 7

16 0 19

700.00% N/A 171.43%

JAN 2016

JAN %CHG 2016 2017 16-17 YTD

2017 %CHG YTD 16-17

ANSONIA 1 Family Condo All Sales

2 0 7

16 0 19

700.00% N/A 171.43%

N/A N/A $130,000

$168,300 N/A N/A N/A N/A N/A $167,000 28.46% $130,000

$168,300 N/A N/A N/A $167,000 28.46%

$197,250 N/A $308,699

N/A -100.00% $197,250 N/A N/A N/A N/A -100.00% $308,699

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

BEACON FALLS 1 Family Condo All Sales

4 2 7

0 -100.00% 1 -50.00% 1 -85.71%

4 2 7

0 1 1

-100.00% -50.00% -85.71%

2 0 2

7 0 7

250.00% N/A 250.00%

2 0 2

7 0 7

250.00% N/A 250.00%

10 14 29

-16.67% 27.27% 3.57%

12 11 28

10 14 29

-16.67% 27.27% 3.57%

$370,000 $145,000 $270,000

$341,000 $158,750 $195,000

-7.84% 9.48% -27.78%

$370,000 $145,000 $270,000

$341,000 -7.84% $158,750 9.48% $195,000 -27.78%

1 5 5 2 6

12 9 25

-20.00% 80.00% -3.85%

15 5 26

12 9 25

-20.00% 80.00% -3.85%

$259,000 $198,000 $249,500

$288,500 $162,000 $262,000

11.39% -18.18% 5.01%

$259,000 $198,000 $249,500

$288,500 11.39% $162,000 -18.18% $262,000 5.01%

5 2 1 6

3 6 10

-40.00% 200.00% -37.50%

5 2 16

3 6 10

-40.00% 200.00% -37.50%

$181,000 N/A $178,000

$138,000 $115,250 $121,500

-23.76% $181,000 N/A N/A -31.74% $178,000

20 7 33

-4.76% 40.00% 10.00%

21 5 30

20 7 33

-4.76% 40.00% 10.00%

$164,000 $85,000 $155,500

$149,250 -8.99% $213,000 150.59% $156,000 0.32%

2 0 1 2 1

15 3 22

-25.00% 200.00% 4.76%

20 1 21

15 3 22

-25.00% 200.00% 4.76%

$291,500 N/A $288,000

$395,000 $142,000 $382,000

35.51% $291,500 N/A N/A 32.64% $288,000

$395,000 $142,000 $382,000

35.51% N/A 32.64%

4 0 5 5 1

28 10 44

-30.00% 100.00% -13.73%

40 5 51

28 10 44

-30.00% 100.00% -13.73%

$181,250 $87,000 $180,000

$212,000 $85,250 $177,650

16.97% -2.01% -1.31%

$212,000 $85,250 $177,650

16.97% -2.01% -1.31%

1 4 2 1 6

15 2 19

7.14% 0.00% 18.75%

14 2 16

15 2 19

7.14% 0.00% 18.75%

$342,500 N/A $335,000

$400,000 16.79% $342,500 N/A N/A N/A $400,000 19.40% $335,000

$400,000 16.79% N/A N/A $400,000 19.40%

3 4 1 0 5 2

37 8 60

8.82% -20.00% 15.38%

34 10 52

37 8 60

8.82% -20.00% 15.38%

$131,200 $53,500 $107,000

$129,000 $59,250 $115,750

4 0 5

9 2 14

125.00% N/A 180.00%

4 0 5

9 2 14

125.00% N/A 180.00%

$389,000 N/A $298,000

$290,000 -25.45% $389,000 N/A N/A N/A $338,573 13.62% $298,000

$290,000 -25.45% N/A N/A $338,573 13.62%

3 2 7 4 6

40 14 62

25.00% 100.00% 34.78%

32 7 46

40 14 62

25.00% 100.00% 34.78%

$318,950 $175,000 $308,000

$277,500 $162,000 $249,500

$277,500 -13.00% $162,000 -7.43% $249,500 -18.99%

24 1 32

242.86% 0.00% 146.15%

7 1 13

24 1 32

242.86% 0.00% 146.15%

$100,000 N/A $119,500

$152,450 52.45% $100,000 N/A N/A N/A $142,000 18.83% $119,500

BETHANY 1 Family Condo All Sales

N/A N/A N/A

$225,000 N/A $225,000

N/A N/A N/A

$225,000 N/A $225,000

N/A N/A N/A

BRANFORD 1 Family Condo All Sales

1 2 1 1 2 8

CHESHIRE 1 Family Condo All Sales

DERBY 1 Family Condo All Sales

$138,000 -23.76% $115,250 N/A $121,500 -31.74%

EAST HAVEN 1 Family Condo All Sales

2 1 5 3 0

$164,000 $85,000 $155,500

$149,250 -8.99% $213,000 150.59% $156,000 0.32%

GUILFORD 1 Family Condo All Sales

HAMDEN 1 Family Condo All Sales

$181,250 $87,000 $180,000

MADISON 1 Family Condo All Sales

MERIDEN 1 Family Condo All Sales

-1.68% 10.75% 8.18%

$131,200 $53,500 $107,000

-1.68% 10.75% 8.18%

MIDDLEBURY 1 Family Condo All Sales

MILFORD 1 Family Condo All Sales

-13.00% -7.43% -18.99%

$318,950 $175,000 $308,000

NAUGATUCK 1 Family Condo All Sales

7 1 1 3

32 | THE COMMERCIAL RECORD | MARCH 2017

$152,450 52.45% N/A N/A $142,000 18.83%

Real estate & credit transactions updated every Thursday

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NUMBER OF SALES JAN 2016

JAN %CHG 2016 2017 16-17 YTD

2017 YTD

MEDIAN PRICE %CHG 16-17

JAN 2016

JAN %CHG 2016 2017 16-17 YTD

2017 %CHG YTD 16-17

NEW HAVEN 1 Family Condo All Sales

2 6 8 6 1

25 12 70

-3.85% 50.00% 14.75%

26 8 61

25 12 70

-3.85% 50.00% 14.75%

$181,000 $126,500 $160,000

$132,000 $137,500 $141,000

10 2 12

0.00% 100.00% 9.09%

10 1 11

10 2 12

1 3 2 2 2

14 3 24

7.69% 50.00% 9.09%

13 2 22

9 0 1 1

10 1 11

11.11% N/A 0.00%

7 2 1 2

10 1 14

-27.07% 8.70% -11.88%

$181,000 $126,500 $160,000

$132,000 -27.07% $137,500 8.70% $141,000 -11.88%

0.00% 100.00% 9.09%

$253,500 N/A $240,000

$247,450 N/A $232,450

-2.39% $253,500 N/A N/A -3.15% $240,000

$247,450 -2.39% N/A N/A $232,450 -3.15%

14 3 24

7.69% 50.00% 9.09%

$239,000 N/A $221,500

$236,722 $369,000 $306,779

-0.95% $239,000 N/A N/A 38.50% $221,500

$236,722 $369,000 $306,779

9 0 11

10 1 11

11.11% N/A 0.00%

$400,000 N/A $415,000

$305,000 -23.75% $400,000 N/A N/A N/A $300,000 -27.71% $415,000

$305,000 -23.75% N/A N/A $300,000 -27.71%

42.86% -50.00% 16.67%

7 2 12

10 1 14

42.86% -50.00% 16.67%

$280,000 N/A $340,283

$220,450 -21.27% $280,000 N/A N/A N/A $250,000 -26.53% $340,283

$220,450 -21.27% N/A N/A $250,000 -26.53%

3 5 12

-50.00% N/A 100.00%

6 0 6

3 5 12

-50.00% N/A 100.00%

$292,500 N/A $292,500

$128,000 $299,500 $235,563

-56.24% $292,500 N/A -19.47% $292,500

$128,000 -56.24% $299,500 N/A $235,563 -19.47%

13 3 22

44.44% -25.00% 46.67%

9 4 15

13 3 22

44.44% -25.00% 46.67%

$275,000 $88,700 $160,000

$231,000 $150,000 $213,750

-16.00% 69.11% 33.59%

$275,000 $88,700 $160,000

$231,000 -16.00% $150,000 69.11% $213,750 33.59%

11 23 36

0.00% 76.92% 44.00%

11 13 25

11 23 36

0.00% 76.92% 44.00%

$332,500 $101,450 $216,000

$275,000 $163,750 $177,000

-17.29% 61.41% -18.06%

$332,500 $101,450 $216,000

$275,000 -17.29% $163,750 61.41% $177,000 -18.06%

26 9 41

30.00% 12.50% 28.13%

20 8 32

26 9 41

30.00% 12.50% 28.13%

$231,500 $181,000 $225,000

$240,000 $200,000 $230,000

3.67% 10.50% 2.22%

$231,500 $181,000 $225,000

$240,000 $200,000 $230,000

41 14 73

-2.38% 27.27% -6.41%

42 11 78

41 14 73

-2.38% 27.27% -6.41%

$89,450 $60,000 $87,500

$110,000 $43,375 $82,000

22.97% -27.71% -6.29%

$89,450 $60,000 $87,500

$110,000 22.97% $43,375 -27.71% $82,000 -6.29%

42 7 60

82.61% 133.33% 71.43%

23 3 35

42 7 60

82.61% 133.33% 71.43%

$142,500 $167,900 $162,000

$174,950 $62,000 $172,450

22.77% -63.07% 6.45%

$142,500 $167,900 $162,000

$174,950 22.77% $62,000 -63.07% $172,450 6.45%

4 0 10

-20.00% N/A 42.86%

5 0 7

4 0 10

-20.00% N/A 42.86%

$169,000 N/A $152,500

$258,750 53.11% $169,000 N/A N/A N/A $282,500 85.25% $152,500

$258,750 53.11% N/A N/A $282,500 85.25%

4 0 4

-42.86% N/A -55.56%

7 0 9

4 0 4

-42.86% N/A -55.56%

$390,000 N/A $390,000

$477,500 22.44% $390,000 N/A N/A N/A $477,500 22.44% $390,000

$477,500 22.44% N/A N/A $477,500 22.44%

400 103 644

449 157 766

$205,000 $127,000 $185,000

$199,900 $140,000 $183,950

NORTH BRANFORD 1 Family Condo All Sales

1 0 1 1 1

NORTH HAVEN 1 Family Condo All Sales

-0.95% N/A 38.50%

ORANGE 1 Family Condo All Sales

OXFORD 1 Family Condo All Sales

PROSPECT 1 Family Condo All Sales

6 0 6

SEYMOUR 1 Family Condo All Sales

9 4 1 5

SOUTHBURY 1 Family Condo All Sales

1 1 1 3 2 5

WALLINGFORD 1 Family Condo All Sales

2 0 8 3 2

3.67% 10.50% 2.22%

WATERBURY 1 Family Condo All Sales

4 2 1 1 7 8

WEST HAVEN 1 Family Condo All Sales

2 3 3 3 5

WOLCOTT 1 Family Condo All Sales

5 0 7

WOODBRIDGE 1 Family Condo All Sales

7 0 9

NEW HAVEN COUNTY 1 Family Condo All Sales

4 00 1 03 6 44

449 157 766

12.25% 52.43% 18.94%

-2.49% 10.24% -0.57%

$205,000 $127,000 $185,000

-2.49% 10.24% -0.57%

MARCH 2017 | THE COMMERCIAL RECORD | 33

TRENDLINES

NEW LONDON COUNTY SALES REPORT

NUMBER OF SALES JAN 2016

JAN %CHG 2016 2017 16-17 YTD

MEDIAN PRICE

2017 YTD

%CHG 16-17

JAN 2016

5 0 5

1 0 2

-80.00% N/A -60.00%

$228,000 N/A $228,000

18 0.00% 0 -100.00% 19 -17.39%

18 3 23

18 0 19

10 5 20

-23.08% N/A 53.85%

13 0 13

10 5 20

4 0 4

300.00% N/A 100.00%

1 0 2

4 2 9

3 1 11

-25.00% -50.00% 22.22%

2 9 1 3 3

26 3 41

-10.34% 200.00% 24.24%

7 0 8

7 0 7

JAN %CHG 2016 2017 16-17 YTD

2017 %CHG YTD 16-17

BOZRAH 1 Family Condo All Sales

5 0 5

1 0 2

-80.00% N/A -60.00%

N/A -100.00% $228,000 N/A N/A N/A N/A -100.00% $228,000

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

COLCHESTER 1 Family Condo All Sales

1 8 3 2 3

0.00% -100.00% -17.39%

$211,938 $166,500 $205,000

$208,000 -1.86% N/A -100.00% $217,000 5.85%

$211,938 $166,500 $205,000

$208,000 -1.86% N/A - 100.00% $217,000 5.85%

-23.08% N/A 53.85%

$240,000 N/A $240,000

$252,500 $172,000 $235,200

4 0 4

300.00% N/A 100.00%

N/A N/A N/A

4 2 9

3 1 11

-25.00% -50.00% 22.22%

$106,000 N/A $100,000

$125,000 17.92% $106,000 N/A N/A N/A $79,000 -21.00% $100,000

$125,000 17.92% N/A N/A $79,000 -21.00%

29 1 33

26 3 41

-10.34% 200.00% 24.24%

$287,000 N/A $249,000

$227,500 $117,000 $220,000

-20.73% $287,000 N/A N/A -11.65% $249,000

$227,500 -20.73% $117,000 N/A $220,000 -11.65%

7 0 8

7 0 7

0.00% N/A -12.50%

$200,000 N/A $197,100

$200,000 N/A $200,000

0.00% $200,000 N/A N/A 1.47% $197,100

$200,000 0.00% N/A N/A $200,000 1.47%

18 1 20

14 0 17

$202,434 N/A $200,434

$221,750 9.54% $202,434 N/A N/A N/A $224,000 11.76% $200,434

$221,750 9.54% N/A N/A $224,000 11.76%

EAST LYME 1 Family Condo All Sales

1 3 0 1 3

5.21% $240,000 N/A N/A -2.00% $240,000

$252,500 $172,000 $235,200

5.21% N/A -2.00%

FRANKLIN 1 Family Condo All Sales

1 0 2

$180,500 N/A $180,500

N/A N/A N/A

$180,500 N/A $180,500

N/A N/A N/A

GRISWOLD 1 Family Condo All Sales

GROTON 1 Family Condo All Sales

LEBANON 1 Family Condo All Sales

0.00% N/A -12.50%

LEDYARD 1 Family Condo All Sales

1 8 1 2 0

14 -22.22% 0 -100.00% 17 -15.00%

-22.22% -100.00% -15.00%

LISBON 1 Family Condo All Sales

1 0 2

4 0 5

300.00% N/A 150.00%

1 0 2

4 0 5

300.00% N/A 150.00%

N/A N/A N/A

$237,500 N/A $220,000

N/A N/A N/A

$237,500 N/A $220,000

N/A N/A N/A

0 0 0

0 0 3

N/A N/A N/A

0 0 0

0 0 3

N/A N/A N/A

N/A N/A $65,000

N/A N/A N/A

N/A N/A $65,000

N/A N/A N/A

12 0 15

50.00% N/A 36.36%

8 0 11

12 0 15

50.00% N/A 36.36%

$155,450 N/A $146,000

$154,358 N/A $144,000

-0.70% $155,450 N/A N/A -1.37% $146,000

$154,358 -0.70% N/A N/A $144,000 -1.37%

12 1 26

13 0 23

$136,500 N/A $151,500

$173,000 26.74% $136,500 N/A N/A N/A $144,900 -4.36% $151,500

$173,000 26.74% N/A N/A $144,900 -4.36%

-42.86% N/A -40.00%

7 0 10

4 0 6

-42.86% N/A -40.00%

$267,000 N/A $258,500

$317,500 18.91% $267,000 N/A N/A N/A $222,500 -13.93% $258,500

$317,500 18.91% N/A N/A $222,500 -13.93%

-54.17% -75.00% -36.11%

24 4 36

11 1 23

-54.17% -75.00% -36.11%

$123,500 $118,000 $116,150

$142,000 14.98% N/A -100.00% $86,000 -25.96%

$142,000 14.98% N/A - 100.00% $86,000 -25.96%

LYME 1 Family Condo All Sales

MONTVILLE 1 Family Condo All Sales

8 0 1 1

NEW LONDON 1 Family Condo All Sales

1 2 1 2 6

13 8.33% 0 -100.00% 23 -11.54%

8.33% -100.00% -11.54%

NORTH STONINGTON 1 Family Condo All Sales

7 0 1 0

4 0 6

2 4 4 3 6

11 1 23

NORWICH 1 Family Condo All Sales

34 | THE COMMERCIAL RECORD | MARCH 2017

$123,500 $118,000 $116,150

Real estate & credit transactions updated every Thursday

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NUMBER OF SALES JAN 2016

JAN %CHG 2016 2017 16-17 YTD

2017 YTD

MEDIAN PRICE %CHG 16-17

JAN 2016

JAN %CHG 2016 2017 16-17 YTD

2017 %CHG YTD 16-17

OLD LYME 1 Family

Condo

1 Family

Condo

1 Family

Condo

1 Family

Condo

All Sales

500.00%

250.00%

N/A

300.00%

N/A

600.00%

-33.33%

0.00%

50.00%

33.33%

N/A

500.00% N/A

N/A N/A

$350,000

N/A

$350,000

N/A

$350,000

N/A

$185,950

N/A

$185,950

N/A

$350,000 N/A

N/A N/A

PRESTON

All Sales

N/A

N/A N/A

N/A $202,000

N/A N/A

SALEM

All Sales

N/A

$351,107 N/A $351,107

N/A -100.00% N/A $87,500

N/A -75.08%

$351,107 N/A $351,107

N/A -100.00% N/A

N/A

$87,500 -75.08%

SPRAGUE

All Sales

N/A

N/A N/A

$70,000 N/A

N/A

$70,000 N/A

N/A N/A

33.33%

$163,100

$140,000

-14.16%

$163,100

$140,000 -14.16%

$347,000

$275,448

-20.62%

$347,000

$275,448 -20.62%

STONINGTON 1 Family

1 1

9.09%

Condo

0.00%

2 0

-25.00%

$250,750

-33.33%

$145,032

All Sales

N/A

N/A $245,395

N/A

-2.14%

$250,750

N/A -100.00%

$145,032

N/A $245,395

N/A -2.14%

VOLUNTOWN 1 Family

Condo

-33.33%

21.05%

0 -100.00%

-3.85%

All Sales

N/A

-33.33%

$145,032

21.05%

$195,000

-100.00%

$141,750

-3.85%

$173,000

$235,000

N/A

N/A -100.00%

N/A $145,032

N/A -100.00% N/A

N/A

N/A -100.00%

WATERFORD 1 Family

1 9

Condo

All Sales

2 6

$235,000

20.51%

$195,000

N/A -100.00%

$141,750

$235,000

20.51%

N/A -100.00%

35.84%

$173,000

$235,000

35.84%

NEW LONDON COUNTY 1 Family

1 87

179

-4.28%

187

179

-4.28%

$200,000

$214,000

7.00%

$200,000

$214,000

7.00%

Condo

1 7

-35.29%

$100,000

$156,000

56.00%

$100,000

$156,000

56.00%

2 56

259

1.17%

256

259

1.17%

$174,950

$192,000

9.75%

$174,950

$192,000

9.75%

All Sales

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 available in a convenient, searchable PDF format through 2009. Each PDF is organized by county, town, and street to make it easy to find the exact 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. Just navigate to commercialrecord.com, log in, click on Rhode Island Records under the Real Estate Transactions tab, and get busy putting The Commercial Record to work for you.

MARCH MARCH 2017 | THE COMMERCIAL RECORD | 35

TRENDLINES

TOLLAND COUNTY SALES REPORT

NUMBER OF SALES JAN 2016

JAN %CHG 2016 2017 16-17 YTD

MEDIAN PRICE

2017 YTD

%CHG 16-17

JAN 2016

JAN %CHG 2016 2017 16-17 YTD

2017 %CHG YTD 16-17

ANDOVER 1 Family Condo All Sales

4 0 5

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

4 0 5

0 0 0

-100.00% N/A -100.00%

$204,000 N/A $237,000

N/A -100.00% $204,000 N/A N/A N/A N/A -100.00% $237,000

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

0 0 0

4 0 6

N/A N/A N/A

0 0 0

4 0 6

N/A N/A N/A

7 0 9

133.33% N/A 125.00%

3 0 4

7 0 9

133.33% N/A 125.00%

$130,000 N/A $110,000

$200,000 53.85% $130,000 N/A N/A N/A $200,000 81.82% $110,000

$200,000 53.85% N/A N/A $200,000 81.82%

13 1 16

550.00% N/A 220.00%

2 0 5

13 1 16

550.00% N/A 220.00%

N/A N/A $230,000

$159,900 N/A N/A N/A N/A N/A $157,950 -31.33% $230,000

$159,900 N/A N/A N/A $157,950 -31.33%

7 0 1 0

7 1 9

0.00% N/A -10.00%

7 0 10

7 1 9

0.00% N/A -10.00%

$235,000 N/A $227,750

$317,500 35.11% $235,000 N/A N/A N/A $186,000 -18.33% $227,750

$317,500 35.11% N/A N/A $186,000 -18.33%

7 0 7

10 2 15

42.86% N/A 114.29%

7 0 7

10 2 15

42.86% N/A 114.29%

$163,500 N/A $163,500

$232,400 42.14% $163,500 N/A N/A N/A $239,900 46.73% $163,500

$232,400 42.14% N/A N/A $239,900 46.73%

8 1 1 0

11 7 19

37.50% 600.00% 90.00%

8 1 10

11 7 19

37.50% 600.00% 90.00%

$224,450 N/A $206,400

$190,000 $229,500 $205,000

-15.35% $224,450 N/A N/A -0.68% $206,400

$190,000 -15.35% $229,500 N/A $205,000 -0.68%

4 0 4

7 0 8

75.00% N/A 100.00%

4 0 4

7 0 8

75.00% N/A 100.00%

$248,750 N/A $248,750

$257,000 3.32% $248,750 N/A N/A N/A $220,000 -11.56% $248,750

$257,000 3.32% N/A N/A $220,000 -11.56%

9 0 1 3

4 1 10

-55.56% N/A -23.08%

9 0 13

4 1 10

-55.56% $169,900 $90,000 N/A -23.08% $165,000 $105,175

5 0 7

12 1 14

140.00% N/A 100.00%

5 0 7

12 1 14

140.00% N/A 100.00%

$280,500 N/A $280,500

0 0 0

1 0 1

N/A N/A N/A

0 0 0

1 0 1

N/A N/A N/A

1 0 3 1 6

21 4 34

10 3 16

21 4 34

4 0 6

3 0 3

63 4 87

100 17 144

BOLTON 1 Family Condo All Sales

$239,950 N/A $239,950

N/A N/A N/A

$239,950 N/A $239,950

N/A N/A N/A

COLUMBIA 1 Family Condo All Sales

3 0 4

COVENTRY 1 Family Condo All Sales

2 0 5

ELLINGTON 1 Family Condo All Sales

HEBRON 1 Family Condo All Sales

MANSFIELD 1 Family Condo All Sales

SOMERS 1 Family Condo All Sales

STAFFORD 1 Family Condo All Sales

-47.03% $169,900 $90,000 -47.03% N/A N/A -36.26% $165,000 $105,175 -36.26%

TOLLAND 1 Family Condo All Sales

$220,838 -21.27% $280,500 N/A N/A N/A $220,838 -21.27% $280,500

$220,838 -21.27% N/A N/A $220,838 -21.27%

UNION 1 Family Condo All Sales

N/A N/A N/A

VERNON 1 Family Condo All Sales

110.00% 33.33% 112.50%

$182,000 $140,750 $169,500

$180,000 $185,000 $172,450

-1.10% 31.44% 1.74%

$182,000 $140,750 $169,500

$180,000 $185,000 $172,450

-1.10% 31.44% 1.74%

-25.00% N/A -50.00%

$161,500 N/A $229,000

$129,400 -19.88% $161,500 N/A N/A N/A $129,400 -43.49% $229,000

$129,400 -19.88% N/A N/A $129,400 -43.49%

58.73% 325.00% 65.52%

$195,000 $153,225 $195,000

$185,500 $175,000 $180,000

WILLINGTON 1 Family Condo All Sales

4 0 6

3 0 3

-25.00% N/A -50.00%

TOLLAND COUNTY 1 Family Condo All Sales

6 3 4 8 7

100 17 144

58.73% 325.00% 65.52%

36 | THE COMMERCIAL RECORD | MARCH 2017

-4.87% 14.21% -7.69%

$195,000 $153,225 $195,000

-4.87% 14.21% -7.69%

TRENDLINES

WINDHAM COUNTY SALES REPORT

NUMBER OF SALES JAN 2016

JAN %CHG 2016 2017 16-17 YTD

MEDIAN PRICE

2017 YTD

%CHG 16-17

JAN 2016

JAN %CHG 2016 2017 16-17 YTD

2 0 2

-33.33% N/A -50.00%

$175,000 N/A $136,500 N/A N/A N/A

$179,250 N/A $179,250

2017 %CHG YTD 16-17

ASHFORD 1 Family Condo All Sales

3 0 4

2 0 2

-33.33% N/A -50.00%

3 0 4

N/A -100.00% $175,000 N/A N/A N/A N/A -100.00% $136,500

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

8 700.00% 0 N/A 12 1100.00%

1 0 1

8 700.00% 0 N/A 12 1100.00%

4 0 5

10 0 11

150.00% N/A 120.00%

4 0 5

10 0 11

150.00% N/A 120.00%

$207,250 N/A $171,500

$197,250 N/A $188,500

-4.83% $207,250 N/A N/A 9.91% $171,500

$197,250 -4.83% N/A N/A $188,500 9.91%

2 0 3

5 0 6

150.00% N/A 100.00%

2 0 3

5 0 6

150.00% N/A 100.00%

N/A N/A $212,000

$122,000 N/A N/A N/A N/A N/A $153,450 -27.62% $212,000

$122,000 N/A N/A N/A $153,450 -27.62%

0 0 2

N/A N/A 0.00%

0 0 2

N/A N/A 0.00%

N/A N/A N/A

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

1 0 3

0 0 0

-100.00% N/A -100.00%

10 1 14

17 3 29

70.00% 200.00% 107.14%

$133,750 N/A $122,450

$110,000 $85,000 $120,000

-17.76% $133,750 N/A N/A -2.00% $122,450

$110,000 -17.76% $85,000 N/A $120,000 -2.00%

$187,000 66.96% $112,000 N/A N/A N/A $170,000 25.93% $135,000

$187,000 66.96% N/A N/A $170,000 25.93%

N/A N/A N/A N/A $246,000 167.39%

BROOKLYN 1 Family Condo All Sales

1 0 1

N/A N/A N/A

$179,250 N/A $179,250

N/A N/A N/A

CANTERBURY 1 Family Condo All Sales

CHAPLIN 1 Family Condo All Sales

EASTFORD 1 Family Condo All Sales

0 0 2

N/A N/A N/A

HAMPTON 1 Family Condo All Sales

1 0 3

N/A N/A N/A N/A N/A N/A $63,000 -100.00%

KILLINGLY 1 Family Condo All Sales

1 0 1 1 4

17 3 29

70.00% 200.00% 107.14%

5 0 9

11 0 21

120.00% N/A 133.33%

5 0 9

11 0 21

120.00% N/A 133.33%

$112,000 N/A $135,000

2 0 3

0.00% N/A 0.00%

2 0 3

0.00% N/A 0.00%

N/A N/A $92,000

8 3 1 3

11 2 19

8 3 13

11 2 19

PLAINFIELD 1 Family Condo All Sales

POMFRET 1 Family Condo All Sales

N/A N/A $92,000

PUTNAM 1 Family Condo All Sales

37.50% -33.33% 46.15%

$147,500 $115,000 -22.03% $122,500 -100.00% $145,000 $125,000 -13.79%

SCOTLAND 1 Family Condo All Sales

1 0 1

0.00% N/A 0.00%

1 0 1

0.00% N/A 0.00%

N/A N/A N/A

2 0 3

-33.33% N/A 0.00%

3 0 3

2 0 3

-33.33% N/A 0.00%

$247,900 N/A $247,900

N/A -100.00% $247,900 N/A N/A N/A $153,000 -38.28% $247,900

N/A - 100.00% N/A N/A $153,000 -38.28%

8 0 1 0

8 0 11

0.00% N/A 10.00%

8 0 10

8 0 11

0.00% N/A 10.00%

$195,450 N/A $195,450

$187,500 -4.07% $195,450 N/A N/A N/A $170,000 -13.02% $195,450

$187,500 -4.07% N/A N/A $170,000 -13.02%

6 2 1 0

9 1 16

50.00% -50.00% 60.00%

6 2 10

9 1 16

50.00% -50.00% 60.00%

$159,000 N/A $145,500

$100,000 -37.11% $159,000 N/A N/A N/A $99,500 -31.62% $145,500

$100,000 -37.11% N/A N/A $99,500 -31.62%

10 900.00% 0 -100.00% 13 44.44%

1 1 9

10 0 13

900.00% -100.00% 44.44%

N/A N/A $140,000

$240,500 N/A N/A N/A N/A N/A $255,000 82.14% $140,000

$240,500 N/A N/A N/A $255,000 82.14%

55 7 90

96 6 149

74.55% -14.29% 65.56%

$152,000 $122,500 $143,750

$168,500 $112,500 $155,000

STERLING 1 Family Condo All Sales

3 0 3

THOMPSON 1 Family Condo All Sales

WINDHAM 1 Family Condo All Sales

WOODSTOCK 1 Family Condo All Sales

1 1 9

WINDHAM COUNTY 1 Family Condo All Sales

5 5 7 9 0

96 6 149

74.55% -14.29% 65.56%

10.86% -8.16% 7.83%

$152,000 $122,500 $143,750

10.86% -8.16% 7.83%

MARCH 2017 | THE COMMERCIAL RECORD | 37

FAIRFIELD COUNTY GOSSIP REPORT

GREENWICH

STAMFORD

WESTPORT

ADDRESS: 46 Dewart Road, Greenwich

ADDRESS: 150 Davenport Drive, Stamford

ADDRESS: 29 Ferry Lane East, Westport

PRICE: $4,485,000

PRICE: $3,050,000

SIZE: 4,056 square feet on 2.54 acres

SIZE: 5,206 square feet on 0.5 acres

SIZE: 6,949 square feet on 2.3 acres

BUYER: Sandbar North LLC

BUYER: Calum Dewar and Sirinee Dewar

BUYER: Jonas Nilsson

SELLER: Jean Richard and Virginia Richard

SELLER: Gerarda M. Rella

SELLER: JP Morgan Chase

AGENT: Sotheby’s International Realty

SOLD: 1/26/17

SOLD: 1/31/17

SOLD: 1/27/17

NEW CANAAN

ADDRESS: 70 Thrush Lane, New Canaan PRICE: $2,900,000 SIZE: 4,463 square feet on 3.34 acres BUYER: Philip Toohey SELLER: David Walker AGENT: Halstead Property SOLD: 1/31/17

1 5

GREENWICH

ADDRESS: 900 Lake Ave., Greenwich PRICE: $2,800,00

SIZE: 6,016 square feet on 2 acres BUYER: Catherine Goldstein and Ross Goldstein SELLER: Mark Truhowsky AGENT: William Raveis Real Estate SOLD: 1/19/17

Built in 1790 – the same year George Washington delivered the first State of The Union address – the property in this month’s No. 5 spot sold after nearly three years on the market for a little more than 12 percent less than the original listing price. It has six working (three of them original) fireplaces, a modern kitchen, four bedrooms, five full bathrooms and one half-bathroom, a library and a three-car garage.

38 | THE COMMERCIAL RECORD | MARCH 2017

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MARCH 2017 | THE COMMERCIAL RECORD | 39

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