The Commerical Record - November 2016

NOVEMBER 2016

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REAL ESTATE & FINANCIAL NEWS FOR CONNECTICUT

THE

HOLIDAY ISSUE Banks Explore The Best Ways To Give RE Agents Use Slow Season For Education, Reconnection A Victim Of Its Own Success, Historic Tax Credit Is Maxed Out

NOVEMBER 2016 | THE COMMERCIAL RECORD | 1

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2 | THE COMMERCIAL RECORD | NOVEMBER 2016

inside The Commercial Record’s Holiday Issue This month’s issue of The Commercial Record celebrates the holiday season in the real estate and finance industries. Banks ramp up their end-of-year giving and real estate agents take a breather as the slide into 2017 begins in earnest.

6

The Giving Season

6

Tis the season for charitable contributions of time and money. Financial institutions discuss their strategies and methods to best reinvest in their communities.

10 Time To Take A Break When the market slows in the winter months, savvy agents use the time for education and maintaining connections with clients.

14 Raise The Cap? A victim of its own success, the state’s historic tax credit program is maxed out with three months to go in the year – and is already borrowing funds from next year’s appropriation, along with calls for an increase in the cap.

14

18 A Taxing Debate The end of the year is as good time as any for estate planning – and the watchword for making it work is “flexibility.”

8

state statistics

12 c-changes

20 Making A Good Impression

13 in person

If you’re contemplating selling your business next year, these tips from a valuation expert will help you achieve the best sale possible.

16 news roundup 22 top commercial transactions

10

24 trendlines 38 gossip report

NOVEMBER 2016 | THE COMMERCIAL RECORD | 3

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4 | THE COMMERCIAL RECORD | NOVEMBER 2016

from the editor

B

MAY YOU LIVE IN INTERESTING TIMES y the time you read this, we will know who the 45th president of the United States will be – we hope.

This issue of The Commercial Record went to press before Nov. 8; at the time, Hillary Clinton was leading the polls nationwide and was likely to win Connecticut. Also at the time, Donald Trump had refused to confirm that he would concede the election should he fail to capture the requisite number of votes. Furthermore, as polls figures failed to show a clear victory by either candidate, the possibility of another Gore v. Bush loomed large.

Whatever the result, one thing is for certain – the election has passed, and we can all move on from another bruising election cycle.

Theoretically, anyway. The current political climate in America will likely linger long past Nov. 8, or indeed Jan. 1, no matter the election’s outcome.

Our next president will have a very long road to reconciliation.

The New York Times reported Trump supporters calling for armed insurrection in the event their candidate did not take the White House. The disillusioned Sanders supporters, having already lost that fight, are in danger of disengaging from politics altogether – a crushing blow for the dominant parties that work so hard to win their votes. The third-party candidates’ supporters, rarely taken seriously, derided as foolish and naïve, have the capacity to do real damage to the establishment (if they can get their acts together).

Less speculation exists on the postelection actions of Clinton supporters, likely because they’re the odds-on favorites to be jubilantly celebrating.

Regardless of how the country voted, a large portion of it is – and will remain – very unhappy. They will have every right to be; if this lengthy and depressing election cycle did anything, it exposed the grinding misery of the American public.

That misery has deep roots in our nation’s recent history. It comes from Jim Crow, the Great Recession, climate change, income inequality, rampant opioid addiction, seismic socioeconomic changes, etc. etc. And it is not going to go away just because the polls have closed.

This ugly election is concluded; will the disappointed voters accept the will of the people? Will they settle into grumbling and wait patiently for 2020?

Will the two parties take a good, long look at how their actions and positions align with the rest of the country? Or will they carry on with business as usual?

Rarely does progress result from inaction; pointing out the problem is only the start. From that must come conversations – like the ones the country has been having lately as our scars and grievances have been exposed. It’s too soon to say whether those conversations will result in any actual, sustainable and meaningful change in our political process – but we must keep having them.

The president of the United States of America, with as much power as he or she wields, will not be able to save us from ourselves. We must do that, together. It’s a scary world out there, folks, and there’s a lot of work to be done to heal our great nation. Let’s start by talking to each other – and listening to the answers. n

Cassidy Murphy Editorial Director Email: cmurphy@thewarrengroup.com

NOVEMBER 2016 | THE COMMERCIAL RECORD | 5

The Giving Season

BANKS EXPLORE MULTIPLE AVENUES FOR COMMUNITY INVESTMENT Charitable Foundations, Employee Volunteerism Remain Popular

BY LAURA ALIX | COMMERCIAL RECORD STAFF

W

hen the holidays roll around, your bank will surely collect coats and canned goods, donate turkeys to the local food bank, and cut a sizable check to a nonprofit doing some good in the community, but behind the feel-good photos runs finely-tuned machinery.

Consider charitable foundations, just one favorite vehicle by which businesses can put dollars back into their market areas.

Setting up a charitable foundation isn’t a simple process, said Barbara Freedman Wand, a partner at Day Pitney LLP who advises individuals and businesses on trusts and estate and philanthropic planning.

First one must set up an entity, a trust or corporation, as the basis for the foundation and then apply to the IRS for approval, which is necessary if contributions are to be deductible for income tax purposes. The IRS will likely to take several months to act on it, and after that point, the foundation must register with the attorney general of the state in which it’s headquartered and the foundation must file annual returns with the IRS. In spite of the hurdles, there are a number of benefits to establishing a charitable foundation as a vehicle for giving money back to the community. For instance, a company can funnel more money into the foundation during a particularly profitable year without having to necessarily award all of those funds that same year, Wand said.

6 | THE COMMERCIAL RECORD | NOVEMBER 2016

First County Bank in Stamford established its charitable foundation with an initial contribution of $1 million in 2001 as a way of celebrating its 150th anniversary, said Chief Marketing Officer Karen Kelly.

“As a mutual, we don’t have dividends, we don’t issue stock, so the foundation gave us the ability to pay a dividend back to the community,” she said.

The foundation focuses its giving in three areas: children and families; education; and housing and economic development. It gave away roughly $170,000 in

In some ways, Wand said, businesses have a greater ability to donate to charities than individuals do because they also have a marketing budget through which they can take deductible donations as a business expense.

Webster Bank in Waterbury also utilizes a number of different channels for its giving. The bank has a small private foundation named for its founder, Harold Webster Smith, that makes grants only within the city of Waterbury, but it does most of its giving through its corporate philanthropy office, said Kathy Luria, se-

tion funds might be used for the benefit of private individuals,” Wand said.

There are more options than ever for giving back to your community, though.

Wand said that individuals and businesses can now also make charitable donations through a donor-advised fund, a public charity typically set up by a commercial institution or community foundation. A person or company can have a separate account within the donor-advised fund and can make recommendations for how their donations are spent, but it’s ultimately the fund that makes the

its first year and now gives out anywhere from $600,000 to $650,000 annually.

Chelsea Groton Bank also has a foundation that it formed in 1998 with a $2 million contribution and has since given over $2 million in grants, said Lori Dufficy, the bank’s director of sales and service. Chelsea Groton’s foundation does not focus on specific areas.

“When you think about charitable grants, that is where the contributions usually have a very clear and measurable support for programs,” she said. “When the bank does sponsorships, we usually get something in return. We might get some promotion or marketing or some entertainment value.”

So when First County sponsors the Oyster Festival in Norwalk, as an example, the bank sets up a table or has employees on hand to hand out promotional materials and chat with festival attendees.

nior vice president of community affairs.

“When we think about giving back at Webster, we really focus our giving around making sure people have their basic needs met and making sure they have food and shelter,” she said.

decision about where to send the money.

Donor-advised funds can be an attractive option for charitable giving. For one thing, individual donors have none of the reporting requirements with respect to their donor-advised funds with the IRS and state attorney general that charitable foundations have. There’s also no requirement to pay out 5 percent of total assets every year, as foundations are required to do, and donations may be made anonymously, Wand said.

And of course, banks also like to give back in the form of volunteerism, can drives and clothing drives. Every bank in this story mentioned employee volunteerism as a way that they like to give back.

“We think about full stewardship,” Dufficy said. “It’s not just writing a check.” n

Read The Fine Print A bank or other business that’s interested in setting up a charitable foundation also needs to understand a few rules.

“Many transactions are prohibited between a charitable private foundation and donors and other disqualified persons,” including people who serve on the board or as managers of the foundation, she said. A donor cannot lease property (other than rent-free) or lend money (unless it’s a no-interest loan) to the foundation, for instance.

“All of these prohibited transactions are meant to get at abuses where founda-

Email: lalix@thewarrengroup.com

NOVEMBER 2016 | THE COMMERCIAL RECORD | 7

STATE STATISTICS Number of Single-Family Sales by Price Range

10-Year Single-Family Sales 30,000

25,000

26,250

20,250

22,500 $700K+

10,750 6,000

$500k-$699k

1991

5,000

$400k-$499k

1996

2001

$300k-$399k

2006

2011

2016

$0-$299k

4,000

NUMBER OF SALES

NUMBER OF SALES

15,500

18,750

15,000

11,250

3,000

7,500

2,000

3,750

1,000 0

0 1991

1996

2001

2006

2011

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

2016

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

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

Lis Pendens and Foreclosures by Month 2,000

Lis Pendens Foreclosure Deeds 1,500

1,000

500

0

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

2014

2015

8 | THE COMMERCIAL RECORD | NOVEMBER OCTOBER 2016 2016

2016

Top 5 Lenders by Market Share Refinance Mortgages

Multifamily Median Price 300,000

Quicken Loan Inc | 2016 Rank: 1 | 2015 Rank: 2

2-Family 5.22%

3-Family

240,000

5.00%

Wells Fargo Bank NA | 2016 Rank: 2 | 2015 Rank: 1

PRICE

180,000

120,000

4.96% 60,000

5.32% 0

Webster Bank | 2016 Rank: 3 | 2015 Rank: 3

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

4.39%

20-Year Residential Median Prices 4.86%

300,000

Single-Family Bank Of America NA | 2016 Rank: 4 | 2015 Rank: 5

Condo 240,000

3.30%

180,000

JPMorgan Chase Bank | 2016 Rank: 5 | 2015 Rank: 6

PRICE

4.28%

120,000

3.09% 60,000

2.75% 0

2016

2015

*MarketShare percent includes loans through September for both years

96 97 98 99 00 01 02 03 04 04 06 07 08 09 10 11 12 13 14 15 16 *Statistics include median prices January - September All Years Source: The Warren Group

NOVEMBER OCTOBER 2016 | THE COMMERCIAL RECORD | 9

Time To Take A Break

SUCCESSFUL REAL ESTATE PROS USE SLOW SEASON TO REFUEL AND RECONNECT Downtime Is Great For Continuing Ed, Marketing And Refueling For Spring

BY JIM MORRISON | COMMERCIAL RECORD STAFF

A

s the holidays descend upon us, most people in the residential real estate world welcome the relaxed pace. Savvy business people recommend more than relaxing during the slow part of the real estate cycle; they say it’s also a great time to re-tool.

Julie Corrado is a busy Realtor by any measure. Working for Coldwell Banker, she closed more than 100 deals in the Greater Hartford area in 2015 and is on track to do it again this year. It’s a breakneck pace, but it’s very deliberate. Corrado plans her work, then works her plan.

She’s always been careful about taking care of herself and not skipping vacations or exercise, but since the birth of her son this summer, how she allocates her

time has become even more deliberate.

Corrado spends time each fall reviewing how the previous year has gone and writing down her personal, financial and business goals for the next year.

“My goal is usually to try to sell more units than the previous year, but this year I kept it the same,” she said. “I have to write them down because otherwise they’re just floating around and not pushing me. I also know I do better with short-

10 | THE COMMERCIAL RECORD | NOVEMBER 2016

term goals, so if I have a goal for the year, I tend to break it down by month.”

It’s a similar story for loan originators, said Jim Earl, regional manager at Guaranteed Rate, based in Southington.

In addition to managing the agents in his area, he’s also a loan originator with a $30 million book of business. The refinance business is dictated largely by interest rates and can be busy at any time of year, but the purchase market slows down around Thanksgiving and ramps back up in March.

“When everything slows down is when the real pros heat up,” Earl said. “That’s when you want to be sure you have all your ducks in a row. In the fall, I’m reviewing 2016 and strategizing with my team for 2017. We focus on setting goals and coaching. We’ll sit down with every one of our loan officers

and talk about things other people are doing that they might want to try.”

Corrado said she also uses the slow period to work on her taxes – a laborious but necessary task.

Season Of Gratitude To brighten the shortening days, Corrado takes time to connect with her clients.

“I’m much better at popping by than I am about emailing and calling clients,” she said. “I dropped off 50 chrysanthemums to my top clients this fall. It lets them know I’m there for them. I also have about 120 clients who come to my annual Thanksgiving party, where I thank those people that helped me throughout the year.”

In December, Corrado makes a point to spend time with her friends and family, and get her continuing education requirements out of the way, but she allocates some time for clients as well.

“I deliver a gorgeous, fresh wreath to the door of my top clients of the year and an ornament with the year, so they’ll always remember the year they bought their home,” she said.

It helps them remember her, too. Jim

Earl does much the same.

“We always do our eight hours of continuing education training in October,” he said. “I like to have it in our office, but this year we’re going to do it online. We also market to past customers to make sure we stay top of mind for them. I tell everybody that this time is time to give back and thank the people who’ve helped you have a successful year and ask for referrals. You want to create relationships. It’s a good time to reach them when things are slower because they have more time to listen.”

Earl said it’s also a great time to thank his clients and employees.

“We always have a holiday party,” Earl said. “The whole month of November we’re doing a food drive and the Connecticut office raised 1.5 tons of food that we donated to the Southington Food Pantry last year.

It’s part of [our] teambuilding.”

Take Care Of Yourself And Your People December and January are great months for people in the mortgage industry to go away, relax and refuel, Earl said; he’s taking his family to Mexico for New Year’s Eve. He

encourages his loan officers to do the same, but also to study up on the many different nuances of different loan requirements.

“I want our loan officers to learn everything about all the loan products, so when they’re qualifying that loan, they put clients in the exact right product so the loan goes through without too many road rashes,” Earl said. “One of the biggest problems is when loan officers connect people with the wrong product.”

Earl, who is also a high school football coach, summed it up: “If you’re not getting better, you’re getting worse,” he said.

“Improve yourself in whatever way you can.

Think of creative ways to go after new business, improve your marketing materials.”

Corrado said she also likes to go someplace warm in February, when Connecticut days are darkest and coldest. She wants to start the busy spring season relaxed and rejuvenated, so she is at her best to help sellers sell and buyers buy.

“I work hard so that I can enjoy my life,” she said. “I work to live, I don’t live to work.” n Email: jmorrison@thewarrengroup.com

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NOVEMBER 2016 | THE COMMERCIAL RECORD | 11

C-CHANGES IN CONNECTICUT’S EXECUTIVE SUITES Essex Savings Bank recently hired Jeffrey Stever as vice president and commercial loan officer. Stever brings a background in commercial lending, underwriting and overall banking knowledge to Essex Savings Bank. He most recently worked as credit risk manager at Ion Bank in Naugatuck, and worked as a commercial lender and relationship officer at several financial institutions in Connecticut throughout his career.

Gov. Dannel P. Malloy has appointed Art House to serve as the state’s chief cybersecurity risk officer. In his new role, he will be responsible for working to enhance cybersecurity prevention and protection efforts in a comprehensive, cross-agency, cross-sector manner. Most recently, House served as chairman of the Connecticut Public Utilities Regulatory Authority and he played an instrumental role in the development of the Cybersecurity Action Plan which helped identify solutions for enhanced cybersecurity across the state, specifically within the electric, natural gas and water sectors.

Stamford-based Waypoint Residential announced the appointment of two senior executives, Peter DiCorpo and Ed Ryder, to support the firm’s significant growth and geographic expansion. DiCorpo has been named COO and will oversee Waypoint’s finance activities. He has 22 years of experience in real estate, most recently as the president of the U.S. Core Investment Platform for CBRE Global Investors. In addition to his new position, DiCorpo is the incoming chairman of the National Association of Real Estate Investment Managers. Ryder, based in Waypoint’s Chicago office, has been named a senior managing director and is responsible for investment activity in the Midwestern and Western regions as well as national oversight for various portfolio management functions. Ryder brings over 24 years of experience in real estate, the last 18 of which he spent with Pearlmark Real Estate Partners where he invested in both multifamily and office properties nationwide.

Rodrigo Lopez recently made history as the first Latino elected to serve as chairman of the Mortgage Bankers Association (MBA). Lopez was sworn in as the 2017 chairman during the MBA Annual Convention and Expo opening ceremony in Boston. He has been an active member of the MBA for 30 years. As the most recent chairman of MBA’s Diversity and Inclusion Committee, Lopez worked to advocate for underrepresented facets of the population in order to foster inclusiveness, creativity and economic growth within the industry.

AWARDS & ACCOLADES The American Bankers Association recently honored Berkshire Bank for its corporate volunteer efforts through the Community Commitment Awards program. Berkshire Bank received recognition for its Xtraordinary Day, during which the bank closed all retail locations and operations centers to give all employees an opportunity to volunteer in the communities they serve. The bank employees completed 56 group service projects, selected and planned by local employees. Approximately 95 percent of Berkshire’s employees participated in the day of service, which puts Berkshire Bank on track to achieve the highest volunteer participation rate of any company in the U.S., according to a statement from the bank.

12 | THE COMMERCIAL RECORD | NOVEMBER 2016

IN PERSON A Commercial Record online exclusive, the In Person features in-depth interviews with top talent in finance and real estate, from CEOs to nonprofit leaders, entrepreneurs to industry veterans. Excerpts from these interviews appear in the print version of The Commercial Record; to see the complete stories, please visit www.commercialrecord.com.

JIM GUARRERA BROKER/OWNER, CAREY & GUARRERA REAL ESTATE After 18 years of teaching school, Guarrera jumped into real estate full time, spending six years in sales, then four years as a general manager, before starting his own firm with a partner 27 years ago.

How do you find competing against larger, national brands?

Fortunately, because of our name recognition, we’ve been number one for sales and listings for the last 10 years. The second place office is also an independent. The bigger firms have all been behind us. A lot of it is reputation. We’ve been very fortunate with turnover. … We consider our office atmosphere more of a family atmosphere. … There is trust among our agents. I think it starts with my partner and I; we wouldn’t tolerate it. If someone calls looking for you, we’re going to track you down.

If we can’t find you, we’ll service the client for you. We look out for each other.

Do you have any predictions for the 2017 market?

This year has been very good for us; it’ll be ahead of 2015, which was very good. In 2017, if mortgage interest rates go up, it won’t be dramatically. And because we have such a wide range of homes, and Shelton has such a good school system, people will still buy. I don’t see the foreclosures in our area impacting our market that much.

CAROLYN WELCH VICE PRESIDENT, COMMERCIAL LOAN OFFICER, CHELSEA GROTON BANK Carolyn Welch hit the ground running when she joined Chelsea Groton Bank’s commercial team this summer.

Tell The Commercial Record’s readers about what you’re aiming to bring to Chelsea Groton.

I’m actually trying to bring a couple different things to Chelsea Groton. … Certainly we hope to increase our SBA exposure and our SBA lending. … The other thing that I’m planning on accomplishing: we have the loan production office in Glastonbury, so we’re hoping to be able to expand beyond our traditional footprint. Through my centers of influence and the network that I have, we’re going to be focusing quite a bit in New Haven, Middlesex and Hartford [counties], so hopefully getting the brand out, the brand recognition and expanding into the markets beyond our traditional footprint.

What’s on the horizon for Chelsea Groton Bank?

We all need to look at alternative ways of doing business. Brick and mortar, we all know, is the most expensive way to do business. While we need the brick and mortar, it’s really important to certainly look at alternatives and additional ways to generate revenue. … The things that [President and CEO Michael Rauh] has done for the bank since he’s taken over as president, he’s hired great people to surround him in all the different areas so that the bank can continue to grow.

EDWARD JORDAN VFOUNDER AND MANAGING DIRECTOR, NORTHEAST PRIVATE CLIENT GROUP With the real estate market starting to recover in 2010, Edward Jordan took the initiative to found his own brokerage specializing in mid-market sales of investment properties in Connecticut, Massachusetts and Westchester County.

What trends are you seeing in demand for multifamily properties in Connecticut?

We’ve seen New Haven boom over the cycle. ... That’s become the hip city in Connecticut. So there are lots of rehab of older apartments and conversion of obsolete office buildings to new apartments, and a fair amount of new construction in downtown. It’s a very dynamic marketplace for investors looking to add values or develop. That said, there’s always the risk of overdevelopment. And New Haven is approaching overdevelopment on class A properties, so there will be a little softening of rents. We love the B and C level product, going in and repositioning the assets for a solid tenancy. That’s where this market still has legs for a while longer.

What types of retail properties are investors looking for?

There’s two baskets of products we see trading quickly. One is for the income investor to have a steady return: the anchored strip center. Those are the opportunities where you’ve got a net-leased pharmacy or grocery store that’s providing traffic flow and long-term national credit tenancy. And then you’ve got the in-line spaces that are more mom-and-pop, but that give the owner the chance to move rents more quickly and reposition assets.

NOVEMBER 2016 | THE COMMERCIAL RECORD | 13

Raise The Cap?

HISTORIC REHABILITATION PROGRAM HITS A WALL Tax Credits Program A Victim Of Its Own Success

State historic rehabilitation tax credits have been approved for developers of 54 historic properties statewide over the last 27 months.

BY STEVE ADAMS | COMMERCIAL RECORD STAFF

R

edevelopment of vacant mill buildings into apartments and condominiums has been one of the bright spots in Connecticut’s post-recession real estate market.

14 | THE COMMERCIAL RECORD | NOVEMBER 2016

Developers have converted dozens of abandoned industrial properties into multifamily housing, addressing a need championed by housing advocates who say the state needs to build more inventory besides single-family homes to resolve mismatches

in demand for housing types.

There’s one problem: the state historic tax credit program, a crucial element of many projects’ financing packages, has run out of money, a victim of its own success.

The state doles out $31.7 million annually for the program, founded in 2007 and revamped in 2014. All of fiscal 2017’s credits have been claimed just three months into the budget year, threatening to delay future projects.

It’s the earliest in the fiscal year that all of the tax credits have been claimed in the current program’s 27-month history, said Julie Carmelich, who administers the program for the Department of Economic Development. Over that period, 54 properties have been approved for tax credits.

Preservationists, housing activists and economic development officials are lobbying Gov. Dannel Malloy to nearly double next year’s tax credits allocation to keep up the program’s momentum.

“We’re dealing with a mismatch between cost of construction and completed value,” said Michael Freimuth, executive director of the Capital Region Development Authority (CRDA). “And the credits are a great gap tool.”

CRDA is backing nine multifamily housing projects totaling 460 units in Hartford, six of which are seeking to tap into historic tax credits.

The credits offset 25 percent of the cost of rehabilitation to qualifying properties – which must be listed on either the national or state Register of Historic Places – with a cap of $4.5 million per project.

Multifamily projects are the most popular reuse type under the program, because many developers also take advantage of low-income tax credits by setting aside 20 percent of units for income-eligible households, said Renee Tribert, project manager at the Connecticut Trust for Historic Preservation (CTHP).

“We see there’s tremendous interest in it, where it’s already oversubscribed,” Tribert said.

As a short-term measure, the state Department of Economic Development is allowing developers to begin reserving tax credits for fiscal 2018.

That stopgap measure ensures that there’s no immediate interruption of the

A recent study by the CTHP estimates that there are 1,400 historic properties in the state that could potentially take advantage of historic tax credits to be redeveloped. program. But advocates say it’s likely that next year’s allocation will be exhausted early as well.

“It’s next spring that we likely will begin to see investors and developers wondering about their tax-credit reservations,” said Daniel Mackay, executive director of CTHP. “The only way to get over that hurdle, rather than falling further behind, we need to raise the cap.”

Housing advocates are asking Malloy to include an additional $30 million in next year’s budget proposal for historic tax credits.

Bill Crosskey, principal at Hartfordbased Crosskey Architects, said the additional allocation could be a tough sell given the state’s budget constraints. But he pointed to studies that indicate that the program more than pays for itself in economic activity generated by new projects.

“Some of the legislators who don’t fully know the details of the program might think they’re giving up $30 million in tax revenue,” said Crosskey, whose firm has designed a half-dozen recent projects in the Hartford area that participated in the program. “But once they understand how the program works, it actually generates over five times the tax credits’ value in economic development.”

The potential for growth of the program is substantial. A recent study by the CTHP estimates that there are 1,400 historic properties in the state that could potentially take advantage of historic tax credits to be redeveloped.

“The Connecticut economy is beginning to grow and there’s an extraordinary stock of historic buildings in downtown areas and mills that are ripe for redevelopment,” Mackay said.

More Specifics Sought On Funding Sources At the same time, developers could be

given a heavier workload putting together documentation to qualify for state historic tax credits. State officials are considering new rules that would require developers to provide more specifics on additional sources of financing, to ensure that credits go to projects that have a significant chance of breaking ground.

“That is something we’ve always asked for, but it’s been fairly light on information,” Carmelich said. “So we’re looking for more in an effort to demonstrate project readiness.”

Developers will be asked to provide timelines for obtaining funding from other sources, letters of intent from lenders and evidence that projects have been approved by local permitting authorities.

“They’re talking about converting it into a competitive process,” said Kent Schwendy, president of the Hartford-based Corporation for Independent Living. “I think it’s the wrong approach. What they need to do is raise the allocations and make more tax credits available, because they pay for themselves.”

CIC is redeveloping the former Capewell Horse Nail Co. factory in Hartford into 72 apartments, its fifth project to receive historic tax credits. Units are expected to be completed Dec. 1.

The new application requirements could complicate the financing picture, CRDA’s Freimuth said, given that other sources of financing can be contingent upon approval of the tax credits.

“It’s a bit of a catch-22,” he said. “These things are iterative. You build one source to lead to the next source, and the credits are often used to trigger other equity or get to a loan-to-value (ratio). These projects aren’t always that clean and simple. It’s really building blocks, and you try to put together as many of them as you can.” n Email: sadams@thewarrengroup.com

NOVEMBER 2016 | THE COMMERCIAL RECORD | 15

NEWS ROUNDUP TENANTS SUE DEVELOPER FOR NEGLECT AT NEW HAVEN HOUSING COMPLEX

MALLOY: CRUMBLING FOUNDATIONS MAY RESULT FROM NATURAL DISASTER

By Laura Alix New Haven housing project residents filed a class action lawsuit charging the property owner with “demolition by neglect,” alleging the developer bought the complex with the intent of eventually tearing it down and building upscale housing in its place.

So far, 271 residents, including 95 adults and 176 children, of the Church Street South housing complex have joined the suit against Newton, Massachusetts-based Northland Investment Corp. Its CEO Lawrence (Larry) Gottesdiener was also named as a separate defendant.

The suit filed in U.S. District Court for the state of Connecticut charges the company, its executive and a variety of its shell companies with negligence, recklessness, emotional distress and violations of the Connecticut Unfair Trade Practices Act (CUTPA).

The 32-page complaint detailed a laundry list of problems with the property that residents said Northland allowed to fester, including leaking roofs and plumbing, broken doors and window, faulty plumbing and electrical systems, water leakage, broken bathroom and kitchen fixtures, toxic mold infestation and carbon monoxide leaks.

“Allowing conditions to deteriorate to that point furthered Northland’s plan to redevelop the complex for more profitable use,” the complaint said.

Gov. Dannel P. Malloy recently announced he has submitted a request to the Federal Emergency Management Agency (FEMA) asking the agency to establish an office in northeastern Connecticut to assess the damage of homes with crumbing concrete foundations that are at risk of collapsing.

Malloy requested that that FEMA determine the extent and impact of the approximately 34,130 affected homes in the area, in what the state believes is the result of a natural disaster, according to its investigation. The state believes the issue to be the result of the reaction of naturally occurring mineral pyrrhotite with oxygen and water. The iron sulfide mineral leads to a chemical reaction when exposed to oxygen and water, resulting in deterioration, Malloy wrote in the request.

There are no state or national building standards that regulate the percentage of pyrrhotite allowed in aggregate used for residential or commercial foundations. Malloy argues that this mineral, when exposed to water, is so damaging that it should have not ever been considered for use in residential foundations. Because these building standards do not exist, this problem could easily cost anywhere between $100 million and $1 billion to fully remediate, according to a statement from Malloy.

EX-HARTFORD MAYOR’S CONVICTIONS EXPECTED TO BE THROWN OUT Former Hartford Mayor Eddie Perez is expected to have his corruption convictions formally thrown out, but he’s far from being in the clear.

Perez was convicted in 2010 on extortion and bribery charges. He was sentenced to three years in prison but remained free pending appeal.

The state’s highest court in July upheld a lower court ruling that state prosecutors improperly combined two cases against Perez into a single trial. Prosecutors say they intend to push forward with a new trial.

Perez, a Democrat who was mayor from 2001 to 2010, was found guilty of accepting a contractor’s bribe of home improvements and trying to extort $100,000 from a developer.

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Malloy Announces $55M In Funding For Affordable Housing Malloy: Crumbling Foundations May Result From Natural Disaster Defunct Woodbury Restaurant Purchased, To Be Rebranded Black Rock Oyster Bar & Grill Sells For $1.3M Building Customer Connections

16 | THE COMMERCIAL RECORD | NOVEMBER 2016

• • • • •

At Chelsea Groton, A Focus On SBA KeyBank Names CT, Western MA Market Leaders The Wind At His Back In A Recovering Market Women of FIRE: Emily Dreas Groundbreaking Today For Homebuilder’s Association ‘Home Of The Year’

EVENTS WALLINGFORD MAN CHARGED WITH STEALING BITCOINS IN PHISHING SCHEME

BANKWORLD The Warren Group Jan. 13, 2017 Mohegan Sun, 1 Mohegan Sun Blvd., Uncasville, CT 06382 Who should attend: Banking and lending professionals More information: www.thewarrengroupevents.com/bankworld

WELLS FARGO FACES COSTLY OVERHAUL OF BANKRUPT SALES CULTURE

A Wallingford man was recently charged with stealing Bitcoins in a dark web phishing scheme. Bitcoins are a form of electronic currency and online marketplaces on the dark web typically accept them as a payment method.

Michael Richo was arrested on a criminal complaint charging him with access device fraud, computer fraud, wire fraud, identity theft and money laundering.

The complaint alleges that Richo posted fake links to online marketplaces on dark web forums. The links directed users to a fake login page, and when the individuals tried to log in, Richo stole their usernames and passwords. He monitored the individual’s bitcoin balance at the real marketplace, and if the individual later deposited bitcoins with the real marketplace, Richo withdrew the bitcoins before the individual could spend them and deposited the stolen bitcoins into his own bitcoin wallet. Richo then sold the stolen bitcoins to others in exchange for U.S. currency, which was deposited into a bank account that Richo controlled.

If convicted, he faces up to 20 years in prison for money laundering, up to 20 years in prison for wire fraud, up to 10 years in prison for access device fraud, up to five years in prison for computer fraud and up to two years in prison for aggravated identity theft.

Embroiled in a scandal over unauthorized customer accounts, Wells Fargo & Co. faces a steep challenge in overhauling its hard-charging sales culture without gutting profits.

Until recently, Wells staffers labored under ambitious quotas while executives boasted to Wall Street about “cross-selling” each customer multiple accounts.

That system collapsed with revelations that thousands of employees opened as many as 2 million accounts without customer permission, leading to a $185 million fine in September. But the problems ahead extend far beyond regulatory penalties, investigations and lawsuits.

Executives will have to dismantle and rebuild systems of sales incentives and performance management that date back two decades, said retail banking experts, including two consultants who have worked for Wells Fargo. That will require heavy spending on hiring, training and installing safeguards against abuses.

Most stock analysts covering Wells Fargo have cut profit forecasts, citing fallout from the scandal. Fitch Ratings also cut the bank’s credit rating outlook to “negative,” citing potential profit erosion.

Some industry experts agree that the bank’s failures stem more from poor management than from the mere idea of selling customers multiple accounts, which isn’t unique to Wells.

DAVID BEATS GOLIATH: MORTGAGE LENDER TAKES DOWN CFPB Mortgage lender PHH landed a knock-down blow against the CFPB last month when three justices from the U.S. Court of Appeals for the D.C. circuit unanimously declared the bureau’s leadership structure unconstitutional and vacated a $103 million fine against the lender.

All eyes in the industry have been on the case since June 2015, when PHH challenged the CFPB’s $103 million increase to a $6.4 million fine for PHH illegally accepting kickbacks for referring customers to specific mortgage insurers.

PHH challenged the fine and the constitutionality of the structure of the CFPB, specifically the fact that director Richard Cordray is not subject to presidential supervision.

The decision, which discusses the separation of powers in the three branches of government, went all the way back to the framers of the Constitution and said, “To carry out the executive power and be accountable for the exercise of that power, the president must be able to control subordinate officers in executive agencies.”

NOVEMBER 2016 | THE COMMERCIAL RECORD | 17

A Taxing Debate

GOOD ESTATE PLANNING CALLS FOR FLEXIBILITY

Estate Taxes Are An Ever-Changing And Popular Legislative Lever

BY KATHLEEN CASSIDY AND RON A. PAC | SPECIAL TO THE COMMERCIAL RECORD

E

state planning is an ongoing process, simply because it touches upon some of life’s most emotional financial questions, such as what your children and grandchildren’s future will look like and what kind of legacy you want to leave behind.

It’s always a good idea to update your estate plan periodically, especially after significant changes in your life. But there are also outside forces, such as changes in the tax law, that can make an estate plan obsolete overnight. Estate taxes, which are often a key motivation behind estate planning, always seem to wind up on the negotiating table when legislatures

are hammering out budgets, and they’ve been very unpredictable over the last 10 to 15 years. Even “permanent” legislation usually doesn’t last forever. It simply isn’t practical, or cost effective, to revise your documents every time there’s new tax law. The flexibility to adapt to changing circumstances has become increasingly important in designing estate plans.

18 | THE COMMERCIAL RECORD | NOVEMBER 2016

KATHLEEN CASSIDY

RON A. PAC

The federal government, 18 states and the District of Columbia impose some kind of tax on the transfer of assets upon the owner’s death. The federal estate tax exemption has ranged from $2 million to $5.45 million since 2002. The tax was repealed in 2010 and then reinstated in 2011. The exemption was scheduled to

Estate taxes, which are often a key motivation behind estate planning, always seem to wind up on the negotiating table when legislatures are hammering out budgets. drop to $1 million at the end of 2012, but Congress acted at the last minute to prevent that. New developments over the last few years include portability, meaning that a surviving spouse can take over the unused exemption of a deceased spouse, and inflation indexing on the amount of the exemption.

While the current estate tax law is not scheduled to sunset, there’s always the chance that Congress will make changes.

The 2016 political season underscored how widely positions can vary when it comes to the appropriate exemption and rate of taxation. Hillary Clinton proposed raising the top federal estate tax rate from 40 percent to 65 percent, while Donald Trump pledged to repeal the tax altogether. This article was written prior to the election, but regardless of the winner, there very likely will be debate among lawmakers about the future of the tax in 2017.

State estate taxes have been directly affected by the tumultuous path of the federal estate tax. Currently, the majority of states do not have an estate tax.

For many of the states that do, it’s still a work in progress. For example, New York revamped its tax drastically in 2014. New Jersey’s legislature recently voted to repeal its estate tax, beginning on Jan. 1, 2018 (although New Jersey will still have an inheritance tax).

Adapting To Future Changes While we can’t predict where, or even if, the estate tax law will settle, we can focus on building estate plans that are able to adapt to future legislative changes, as well as changes in the lives of the people involved. A flexible plan can eliminate the need to revise documents every time there’s a change in the law, but it can also make it more palatable for people to execute strategies that require them to give up some measure of access and control.

For people who know they want to leave a

legacy to their heirs, but who don’t know yet what that legacy should look like, it can also take some of the pressure off decision making.

Clearly, estate planning can be a complex business. A few flexible strategies are outlined below, but please be aware that space does not permit a detailed description of these, or indeed of all the issues that can arise with an individual’s estate plan. Consulting a professional is highly advisable.

A Credit Shelter Trust (also known as a Bypass Trust) is a traditional estate tax strategy to preserve the estate tax exemptions of both spouses by moving assets outside the taxable estate when the first spouse passes away. Many estate plans making this funding happen automatically, but with portability now in effect on a federal level, a surviving spouse does not necessarily need a Credit Shelter Trust to keep the deceased spouse’s exemption.

There are still valid reasons why funding the trust may be beneficial, not the least of which is that most states’ exemptions are not portable, but it may be a good idea give the surviving spouse a choice about whether to fund the trust or not, and in what amount.

By making gifts to an irrevocable trust during life, a donor can take advantage of the annual gift tax exclusion (in 2016, $14,000 per year, per beneficiary) and move appreciating assets outside the taxable estate. However, this requires the donor to give up access to, and control over, the gifted assets. The uncertain future of the estate tax presents another hurdle, since it’s hard to predict whether today’s planning will be beneficial under tomorrow’s law. But this type of trust can be drafted for maximum flexibility by some of the methods noted below: • The donor can make his or her spouse a beneficiary of the trust, creating something like a backdoor to the trust assets. The trustee has

discretion to distribute assets to the beneficiary-spouse if necessary.

• When an estate plan involves giving up access and control over assets, the choice of who should be trustee is a common road block. Many people are reluctant to look beyond the family circle, and rather than considering a professional trustee such as an accountant, attorney, or trust company, they end up doing nothing at all. When a trust agreement contains provisions making it simple to change trustees in the future, it can be much easier to make a decision and execute on a plan.

• The donor can retain the right to substitute assets of equal value for the trust assets at any time.

• The trust agreement can include provisions allowing the assets to be “decanted,” i.e., poured from the current trust to another with more favorable terms.

• The trust agreement can contain provisions allowing parents to delay the ultimate decision about if and when children will have unrestricted ownership of the assets.

Life insurance, held outside the taxable estate in trust, is a common tool to fund estate tax liability. For individuals who may or may not have taxable estate in the future, a simple way to adapt is to establish an irrevocable trust and fund it with convertible term insurance. That allows them to lock in their insurability today for a relatively low cost, and if estate taxes remain a concern, the policy can be converted to permanent insurance in the future. n Kathleen Cassidy, J.D., is an advanced markets director who works in the Wealth Strategies Division of the Barnum Financial Group and can be reached at kcassidy@barnumfg.com; Ron Pac, RICP, is a financial planner with Barnum and can be reached at rpac@barnumfg.com.

NOVEMBER 2016 | THE COMMERCIAL RECORD | 19

Making A Good Impression

BUT I THOUGHT IT WOULD BE WORTH MORE!

10 Ways To Greatly Enhance The Value Of Your Business

BY DAVID A. HUMPHREY | SPECIAL TO THE COMMERCIAL RECORD

20 | THE COMMERCIAL RECORD | NOVEMBER 2016

T

he sale of a business is likely the most emotional decision an owner will make since first deciding to become an entrepreneur. Often when approached with an offer, an owner simply isn’t ready to capitalize on the opportunity and maximize the deal – however, a little presentation work can change this, and increase the value dramatically.

Proactive entrepreneurs prepare for such an opportunity by identifying aspects of the business that would both be attractive, and of concern, to a potential buyer. By underDAVID A. HUMPHREY standing the buyer’s perspective, changes can be implemented to alleviate potential risk factors, and thus increase value: 1. First impressions matter. How buyers perceive your business is critical and how your company presents in general will tell them a lot about what needs to be updated, changed or improved. Potential buyers will be concerned with whether they will have to invest in new manufacturing equipment, computer networks and other systems.

Poor lighting, clutter and dusty inventory will make the business look tired and second-rate. Having a business that is bright, energetic and vibrant will enhance value.

Your digital presence, website and social media are all part of presenting a business as ready for tomorrow, rather than resting on accolades of yesterday.

2. Diversify your customer base. Customer concentration (too much revenue from one or a small handful of customers) can be an issue. Buyers may walk away completely, reduce the cash value of their offer, or replace cash at closing with a payout over time structured deal. Improve value by ensuring you have a diversified customer base, which will reduce the risk of a significant customer leaving or gaining too much control over pricing.

3. Improve customer retention. Buyers look for businesses that serve a niche and retain customers. Determine why custom-

ers choose to return to your business time and again. Perhaps it’s because of specialty manufacturing equipment, knowledge or expertise, quicker delivery times or even an enhanced customer experience. Creating lasting, sticky customer relationships increases the business’ value.

4. Ensure the future looks bright. Safeguarding against potential irrelevance in a quickly evolving world through diversification and innovation is critical. No buyer is going to pay a premium to invest in a busi-

7. Know how to answer the buyer’s toughest question: “Why are you selling?”

How you answer the question will have a direct effect on perceived value. Business owners must offer a clear and convincing reasoning that the business is strong and growing but they are selling because it is time for a change.

8. Once a deal is agreed to, time is of the essence. The longer it takes, the greater the chance of a buyer postponing, renegotiating or walking away. Be sure to promptly provide necessary documentation, remove any hurdles and work with your attorney to expedite the transaction.

Time kills deals, and deals never get better during the delay between an offer letter and the closing.

9. It’s not your success; it’s the company’s success. As the owner of the business, if you are the most essential employee, key to sales, operations, efficiency and growth

No buyer is going to pay a premium to invest in a business that seems as if it’s already fading away. ness that seems as if it’s already fading away.

You must know, and be able to explain to a buyer, why the business will remain relevant in the marketplace going forward.

5. Positive trends. All businesses go through cycles that are influenced by a number of factors such as the weather, the economy or specific events within the company. Buyers are looking for a business with positive revenue and profit trends and are typically willing to pay more to get it. Time the sale for when the trends are positive and value is peaking, not when the owner is coasting and the business is stagnant.

6. Having and/or renewing patents may add value. Patents that impact operations or sales or patents that protect and insulate the business from competitors tend to be valuable. If there is any question as to whether intellectual property should be patented, consult attorneys specializing in patent law to evaluate the right course of action.

then value decreases, sometimes even to zero. It is imperative that action is taken to make your role less critical. The focus should always be on the success of the business’ entire team.

10. Increase revenues. A business with growing revenues conveys the opportunity for even greater future increased profits, growth, and market share. In the years leading up to the sale, one of the greatest value enhancement objectives is increasing revenues. Greater revenues can offset many other issues which may cause a buyer to hesitate in offering exciting and interesting price and terms. n David A. Humphrey, CPA, CVA, is the author of “The Art of Business Value Enhancement” and the owner of Beacon Equity Advisors, a boutique firm specializing in mergers, acquisitions and valuations of closely held businesses in New England. Visit www.beaconequityadvisors.com for more information.

NOVEMBER 2016 | THE COMMERCIAL RECORD | 21

TOP COMMERCIAL TRANSACTIONS Visit www.commercialrecord.com for a complete list of commercial transactions updated weekly.

TOP 3 STATEWIDE 1 Church St, New Haven....................... $19,500,000

750 E Main St, Stamford........................ $8,100,000

22 5th St, Stamford............................... $3,400,000

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

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

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

Buyer: ..........................Church Saint Property LLC &

Buyer: ..............................................Forstone 750 LLC

Buyer: ..................................Community Health Center

Dominion Church Saint Ch

Seller:...................................... East Main Street Equity

Seller: .........................................Hattco Stamford LLC

Seller: ..................................1 Church Street Assoc LP

Mtg: ................. Shem Crk Stamford 750 $13,500,000

Date: ............................................................ 10/06/16

Date:............................................................ 08/30/16

Date:............................................................ 09/26/16

Total Assessed Value (2016):..................... $2,275,000

Total Assessed Value (2016):..................... $5,017,670

Total Assessed Value (2016): ...................$11,457,320

Lot Size: ......................................................... 29493sf

Lot Size:......................................................... 44867sf

Lot Size:......................................................... 44452sf

Prior Sale: .....................................$3,000,000 (09/02)

Prior Sale: ...................................$19,500,000 (02/16)

Prior Sale: ...................................$17,000,000 (06/11)

FAIRFIELD 750 E Main St, Stamford................. $8,100,000 Use:............................................. Commercial Building Buyer:.............................................. Forstone 750 LLC Seller:...................................... East Main Street Equity Mtg:.................. Shem Crk Stamford 750 $13,500,000 Date: ............................................................ 09/26/16 Total Assessed Value (2016): ...................$11,457,320 Lot Size:......................................................... 44452sf Prior Sale: ...................................$17,000,000 (06/11)

22 5th St, Stamford........................ $3,400,000 Use:............................................. Commercial Building Buyer: ..................................Community Health Center Seller: .........................................Hattco Stamford LLC Date: ............................................................ 10/06/16 Total Assessed Value (2016): .....................$2,275,000 Lot Size:......................................................... 29493sf Prior Sale:..................................... $3,000,000 (09/02)

78-80 Benedict Rd, Bethel............. $3,399,900 Use:.................................................................... Motel Buyer:.............................................. Fairfield Hospitality Seller: .................................... Bethel Hospitality Assoc Mtg: ....................................... Celtic Bank $2,999,000 Date: ............................................................ 10/07/16 Total Assessed Value (2016): .....................$2,106,580 Lot Size: ......................................................... 93218sf Prior Sale: ........................................$400,000 (11/99)

10 School St, East Hartford............ $1,468,300 Use:............................................. Commercial Building Buyer: ........................................... Nova S Realty Corp Seller: ..................................Franklin Dev Fund 11 LLC Date:............................................................ 09/28/16 Total Assessed Value (2016):..................... $2,102,530 Lot Size:......................................................... 83635sf Prior Sale:........................................ $975,000 (11/15)

1789 New Britain Ave, Farmington. $1,300,000 Use:...............................................Office Bldg-General Buyer: ..................................................JPF Realty LLC Seller: ............................................... Maier Realty LLC Mtg: ............................Simsbury Bk & Tr Co $975,000 Date:............................................................ 09/13/16 Total Assessed Value (2016): ........................$778,410 Lot Size: ......................................................... 84071sf

12 County Rd, Morris...................... $1,100,000 Use:.............................. Mixed Use-Prim Res & Comm Buyer: .................................................... Russel Barton Seller:...................................... Far Meadow Farm LLC Mtg: .............................Union Savings Bank $500,000 Date: ............................................................ 08/31/16 Total Assessed Value (2015): .....................$1,239,000 Lot Size: ..................................................... 1171764sf Prior Sale: ........................................$285,000 (05/00)

70 Heminway Park Rd, Watertown... $695,000 Use:............................................. Commercial Building Buyer: ..................................................Janene Gordon Seller: .................................... Icarus Real Estate Mgmt Date: ............................................................ 09/23/16 Total Assessed Value (2016): ........................$313,400 Lot Size:........................................................ 13504sf Prior Sale:........................................ $450,000 (09/12)

404 Main St, Middletown................. $450,000 Use:............................................. Commercial Building Buyer:.............................................. Mlevin Realty LLC Seller: ................................................... Harriet S Levin Mtg:..................................... Harriet S Levin $450,000 Date: ............................................................ 09/23/16 Total Assessed Value (2016):........................ $355,010 Lot Size: ........................................................... 6534sf

264 Main St, Portland...................... $450,000 Use:........................................................Retail-Service Buyer: ..................................... Christopher Mcgarahan Seller: ................................................. Blaine M Athorn Mtg: ...........................Maximum Group LLC $250,000 Date:............................................................ 09/19/16 Total Assessed Value (2016): ........................$178,220 Lot Size: ........................................................... 9583sf Prior Sale: ........................................$202,432 (05/12)

HARTFORD 45 Brainard Rd, Hartford................ $1,600,000 Use:............................................................Auto Other Buyer:...................................................... Kenlin 2 LLC Seller: ..............................Bocada 45 Brainard Rd LLC Mtg: ...................................Webster Bank $1,530,000 Date:............................................................ 09/29/16 Total Assessed Value (2016): ........................$873,670 Lot Size:....................................................... 272250sf Prior Sale: ........................................$900,000 (04/15)

LITCHFIELD 669 Straits Tpke, Watertown.......... $2,100,000 Use:..................................................Industrial Building Buyer:................................ 669 Straits Watertown LLC Seller:.............................................. Hylie Products Inc Date: ............................................................ 10/03/16 Total Assessed Value (2016): ........................$447,700 Lot Size: ......................................................... 88427sf

MIDDLESEX 15 N Main St, Old Saybrook............. $540,000 Use:............................................. Commercial Building Buyer:.............................................. 15 N Main St LLC Seller: .................................................Thomas E Davis Date: ............................................................ 09/13/16 Total Assessed Value (2016): ........................$348,800 Lot Size:......................................................... 34848sf

22 | THE COMMERCIAL RECORD | NOVEMBER 2016

FEATURED PROPERTY 78-80 Benedict Rd, Bethel........................................................... $3,399,900 Use:............................................................................................................... Motel Buyer:......................................................................................... Fairfield Hospitality Seller: ................................................................................Bethel Hospitality Assoc Mtg: .................................................................................. Celtic Bank $2,999,000 Date: ........................................................................................................10/07/16 Total Assessed Value (2016): ................................................................ $2,106,580 Lot Size: .................................................................................................... 93218sf Prior Sale: ................................................................................... $400,000 (11/99)

NEW HAVEN 1 Church St, New Haven................$19,500,000 Use:...............................................Office Bldg-General Buyer:........................... Church Saint Property LLC & Dominion Church Saint Ch Seller: ..................................1 Church Street Assoc LP Date: ............................................................ 08/30/16 Total Assessed Value (2016): .....................$5,017,670 Lot Size: ......................................................... 44867sf Prior Sale:................................... $19,500,000 (02/16)

325 Fountain St, New Haven........... $1,800,000 Use:............................................... Apartment Building Buyer:........................................ DKRK Properties LLC Seller:.............................................. 325 Fountain LLC Mtg: ...................................Webster Bank $1,350,000 Date: ............................................................ 09/19/16 Total Assessed Value (2016): ........................$591,500 Lot Size:......................................................... 12269sf Prior Sale: .....................................$1,350,000 (03/12)

265 Old Gate Ln, Milford................. $1,229,000 Use:..................................................Industrial Building Buyer: ..................................................Milford Tax LLC Seller: ............ Paradigm Milford LLC & Milford Tax LLC Date:............................................................ 06/15/16 Total Assessed Value (2016): .....................$5,200,850 Lot Size: ....................................................... 694782sf

77 Foster Rd, Waterford.................. $850,000 Use:...........................................Industrial Vacant Land Buyer: .............................................. CSCE Realty LLC Seller: .................................................... Charles Secor Mtg: ........................................Dime Bank $5,595,900 Date: ............................................................ 09/09/16 Total Assessed Value (2016): ........................$404,950 Lot Size: ..................................................... 2112585sf Prior Sale: ........................................$800,000 (06/04)

327 Huntington St, New London...... $700,000 Use:....................................................... Other Exempt Buyer: .................................Kingdom Alliance Corp Inc Seller:............................................ Faith Fellowship Inc Mtg: ...................................Savings Institute $560,000 Date:............................................................ 09/07/16 Total Assessed Value (2016): ........................$861,980 Lot Size:.......................................................... 63162sf

7 Pleasant St, Vernon...................... $353,000 Use:............................................... Apartment Building Buyer: ....................................... Gottier Properties LLC Seller: ...........................Dale W Gottier & Eric L Gottier Date:............................................................. 09/01/16 Total Assessed Value (2016):........................ $114,770 Lot Size: ......................................................... 15682sf

9 Pleasant St, Vernon...................... $353,000 Use:............................................... Apartment Building Buyer: ....................................... Gottier Properties LLC Seller:........................... Dale W Gottier & Eric L Gottier Mtg: ................................................... Seller $353,000 Date: ............................................................ 09/01/16 Total Assessed Value (2016): ........................$137,470 Lot Size: ......................................................... 15682sf Prior Sale: ........................................$280,000 (01/87)

94 Norwich Rd, Plainfield................ $450,000 Use:............................................. Commercial Building Buyer: .................................... Gilmore Real Est Hld Co Seller: ................................... Kenmen Properties Corp Mtg: ...................................Savings Institute $520,000 Date:............................................................ 09/22/16 Total Assessed Value (2016): ........................$497,690 Lot Size:......................................................... 43560sf Prior Sale:........................................ $175,000 (04/04)

3 Commerce Ave, Killingly............... $250,000 Use:........................................................Retail-Service Buyer: ..................................... Maahir Real Estate LLC Seller:........................................................ Peter Deary Mtg: ..........................................Peter Deary $250,000 Date: ............................................................ 10/05/16 Total Assessed Value (2016): ........................$178,360 Lot Size: ......................................................... 10019sf Prior Sale: ........................................$190,000 (09/94)

NEW LONDON 2 Lorenz Industrial Pkwy, Ledyard.. $1,100,000 Use:...............................................Office Bldg-General Buyer:.................................. Ledyard Self Storage LLC Seller: ..............................................RCP Ledyard LLC Mtg: ........................................ Milford Bank $880,000 Date: ............................................................ 09/30/16 Total Assessed Value (2016): ........................$704,690 Lot Size: ....................................................... 240016sf

TOLLAND 30 Elm St, Vernon............................ $365,000 Use:............................................... Apartment Building Buyer: ......................................................... Mitras LLC Seller:....................................................... W&K Assoc Mtg: .......................................Putnam Bank $296,000 Date: ............................................................ 09/28/16 Total Assessed Value (2016): ........................$324,600 Lot Size: ........................................................... 6970sf Prior Sale: ........................................$500,000 (02/08)

WINDHAM 66 E Main St, Plainfield................... $934,000 Use:............................................. Commercial Building Buyer: .................................................... Shivansh LLC Seller: .................................................Arti Brothers Inc Mtg: ...................................Shantilal D Patel $700,000 Date: ............................................................ 08/30/16 Total Assessed Value (2016): ........................$627,340 Lot Size: ......................................................... 91476sf Prior Sale: ........................................$900,000 (10/97)

NOVEMBER 2016 | THE COMMERCIAL RECORD | 23

TRENDLINES

FAIRFIELD COUNTY SALES REPORT

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

1 Family

2 0

20

0.00%

139

139

0.00%

$329,750

$311,750

-5.46%

$289,000

$295,000

2.08%

Condo

1 1

6

-45.45%

68

60

-11.76%

$274,000

$355,248

29.65%

$301,473

$278,000

-7.79%

31

-13.89%

242

254

4.96%

$329,750

$360,495

9.32%

$299,950

$303,170

1.07%

2016 YTD

MEDIAN PRICE

SEP 2015

%CHG 15-16

SEP 2015

SEP %CHG 2015 2016 15-16 YTD

2016 %CHG YTD 15-16

BETHEL

All Sales

3 6

BRIDGEPORT 1 Family

5 9

54

-8.47%

364

420

15.38%

$163,000

$166,400

2.09%

$155,000

$154,450

-0.35%

Condo

1 8

29

61.11%

136

190

39.71%

$58,750

$65,000

10.64%

$75,000

$69,450

-7.40%

1 18

118

0.00%

855

1,016

18.83%

$145,000

$124,950

-13.83%

$135,000

$129,375

-4.17%

All Sales

BROOKFIELD 1 Family

2 8

20

-28.57%

148

151

2.03%

$343,500

$380,000

10.63%

$351,000

$342,134

-2.53%

Condo

6

14

133.33%

54

61

12.96%

$198,500

$235,000

18.39%

$184,000

$210,000

14.13%

3 9

44

12.82%

254

261

2.76%

$315,000

$286,000

-9.21%

$315,000

$300,000

-4.76%

1 Family

3 9

46

17.95%

298

348

16.78%

$275,000

$277,000

0.73%

$268,500

$270,000

0.56%

Condo

2 6

37

42.31%

263

298

13.31%

$203,000

$185,000

-8.87%

$193,000

$190,000

-1.55%

8 3

111

33.73%

743

843

13.46%

$274,800

$270,000

-1.75%

$258,000

$260,000

0.78%

1 Family

2 6

24

-7.69%

289

222

-23.18%

$1,312,500

$1,240,000

-5.52% $1,417,500

$1,327,000

-6.38%

Condo

5

1

-80.00%

29

17

-41.38%

$530,000

3 3

25

-24.24%

347

259

-25.36%

$1,015,000

$1,280,000

1 Family

6

5

-16.67%

82

85

3.66%

$636,000

$640,000

Condo

0

0

0

0

8

5

-37.50%

90

96

All Sales

DANBURY

All Sales

DARIEN

All Sales

N/A -100.00% $1,690,248 26.11% $1,472,500

$1,445,000 -14.51% $1,320,000 -10.36%

EASTON

All Sales

N/A

N/A

N/A

N/A

0.63% N/A

$599,500 N/A

$610,000 N/A

6.67%

$636,000

$640,000

0.63%

$594,500

$598,500

1.75% N/A 0.67%

FAIRFIELD 1 Family

6 4

57

-10.94%

577

563

-2.43%

$575,000

$650,000

13.04%

$565,000

$590,000

4.42%

Condo

1 0

13

30.00%

72

83

15.28%

$342,500

$326,000

-4.82%

$355,000

$330,000

-7.04%

87

0.00%

736

739

0.41%

$542,000

$549,000

1.29%

$530,500

$549,000

3.49%

5.14% $1,500,000

$1,475,000

-1.67%

$668,300

0.88%

All Sales

8 7

GREENWICH 1 Family

4 1

38

-7.32%

356

281

-21.07%

$1,410,000

$1,482,500

Condo

1 9

8

-57.89%

108

93

-13.89%

$655,000

$637,000

7 0

50

-28.57%

554

432

-22.02%

$1,012,544

$1,315,750

1 Family

1 7

14

-17.65%

151

149

-1.32%

$358,000

$372,500

4.05%

$349,000

$361,000

3.44%

Condo

4

6

50.00%

50

47

-6.00%

$172,450

$233,250

35.26%

$205,500

$230,000

11.92%

2 3

22

-4.35%

220

225

2.27%

$357,000

$314,950

-11.78%

$320,000

$337,500

5.47%

17.42% $1,456,625

$1,500,000

2.98%

All Sales

-2.75%

$662,450

29.94% $1,250,000

$1,122,500 -10.20%

MONROE

All Sales

NEW CANAAN 1 Family

1 7

16

-5.88%

252

170

-32.54%

$1,435,000

$1,685,000

Condo

5

8

60.00%

45

48

6.67%

$447,000

$861,250

2 8

27

-3.57%

328

235

-28.35%

$1,300,000

$1,400,000

24

20.00%

132

158

19.70%

$340,000

$332,000

0 -100.00%

18

2

-88.89%

$316,984

0.00%

167

179

7.19%

$318,251

$329,000

All Sales

92.67%

$761,000

7.69% $1,350,000

$587,500 -22.80% $1,320,000

-2.22%

$323,750

-8.03%

NEW FAIRFIELD 1 Family

2 0

Condo

4

All Sales

2 5

25

-2.35%

$352,000

N/A -100.00%

$299,950

N/A -100.00%

3.38%

$321,000

$313,000

-2.49%

NEWTOWN 1 Family

2 8

39

39.29%

293

290

-1.02%

$347,500

$348,000

0.14%

$374,000

$372,000

-0.53%

Condo

1 0

3

-70.00%

26

35

34.62%

$368,540

$255,000

-30.81%

$332,734

$334,504

0.53%

47

6.82%

360

367

1.94%

$354,487

$353,019

-0.41%

$366,000

$370,000

1.09%

All Sales

4 4

24 | THE COMMERCIAL RECORD | NOVEMBER 2016

Real estate & credit transactions updated every Thursday

www.commercialrecord.com • subscribers only

NUMBER OF SALES SEP 2015

SEP %CHG 2015 2016 15-16 YTD

2016 YTD

MEDIAN PRICE %CHG 15-16

SEP 2015

SEP %CHG 2015 2016 15-16 YTD

2016 %CHG YTD 15-16

NORWALK 1 Family

6 7

54

-19.40%

509

492

-3.34%

$430,000

$433,500

0.81%

$450,000

$428,750

-4.72%

Condo

3 6

35

-2.78%

258

259

0.39%

$261,250

$230,000

-11.96%

$270,000

$270,000

0.00%

1 16

105

-9.48%

889

896

0.79%

$355,000

$330,000

-7.04%

$375,000

$380,000

1.33%

-10.00%

88

87

-1.14%

$446,000

$523,000

17.26%

$511,250

$520,000

1.71%

0

4

0.00%

99

108

All Sales

REDDING 1 Family

1 0

9

Condo

0

1

1 3

13

All Sales

N/A

N/A

N/A

N/A

9.09%

$446,000

$410,000

N/A

N/A

$264,500

N/A

-8.07%

$512,500

$510,000

-0.49%

RIDGEFIELD 1 Family

2 6

31

19.23%

242

252

4.13%

$617,913

$710,000

14.90%

$649,500

$643,150

-0.98%

Condo

1 2

6

-50.00%

62

50

-19.35%

$280,400

$247,500

-11.73%

$223,500

$222,500

-0.45%

3 9

41

5.13%

326

325

-0.31%

$570,000

$645,000

13.16%

$590,000

$615,000

4.24%

1 Family

2 9

29

0.00%

256

263

2.73%

$293,000

$345,000

17.75%

$295,000

$318,000

7.80%

Condo

2 3

13

-43.48%

128

113

-11.72%

$290,000

$281,250

-3.02%

$279,500

$250,000 -10.55%

50

-18.03%

442

446

0.90%

$285,000

$320,995

12.63%

$297,450

$300,000

0.86%

-66.67%

46

34

-26.09%

$375,500

N/A -100.00%

$430,000

$471,250

9.59%

0

0

-66.67%

51

39

All Sales

SHELTON

All Sales

6 1

SHERMAN 1 Family

6

2

Condo

0

0

6

2

All Sales

N/A

N/A

N/A

-23.53%

$375,500

N/A

N/A

N/A -100.00%

N/A

N/A

N/A

$405,000

$435,000

7.41%

STAMFORD 1 Family

6 0

63

5.00%

529

538

1.70%

$600,000

$545,000

-9.17%

$553,000

$559,500

1.18%

Condo

6 0

48

-20.00%

413

480

16.22%

$286,000

$311,500

8.92%

$295,000

$312,250

5.85%

1 44

132

-8.33% 1,125

1,249

11.02%

$475,000

$442,500

-6.84%

$430,000

$435,000

1.16%

All Sales

STRATFORD 1 Family

5 0

50

0.00%

387

437

12.92%

$222,750

$259,000

16.27%

$226,000

$230,000

1.77%

Condo

1 8

12

-33.33%

112

114

1.79%

$167,500

$217,500

29.85%

$178,000

$166,750

-6.32%

72

-20.00%

604

660

9.27%

$207,500

$241,000

16.14%

$214,500

$212,750

-0.82%

$390,000

15.99%

$357,500

$360,000

0.70%

N/A -100.00%

$324,900

$310,000

-4.59%

All Sales

9 0

TRUMBULL 1 Family

3 8

41

7.89%

301

398

32.23%

$336,250

Condo

5

1

-80.00%

29

27

-6.90%

$335,000

4 5

44

-2.22%

358

442

23.46%

$335,000

$388,000

15.82%

$350,000

$355,000

1.43%

1 Family

1 6

21

31.25%

134

130

-2.99%

$560,250

$689,000

22.98%

$808,800

$754,250

-6.74%

Condo

0

0

0

0

1 9

22

15.79%

149

137

All Sales

WESTON

All Sales

N/A

N/A

N/A

N/A

-8.05%

$550,000

$694,000

$1,117,000

$1,225,000

N/A 26.18%

N/A

N/A

N/A

$799,999

$753,500

-5.81%

9.67% $1,200,000

$1,229,000

2.42%

N/A $650,000

$682,500

5.00%

0.04% $1,100,000

$1,175,000

6.82%

-9.12%

WESTPORT 1 Family

3 4

29

-14.71%

285

279

-2.11%

Condo

1

2

100.00%

21

16

-23.81%

4 0

37

-7.50%

351

333

-5.13%

$1,142,000

$1,142,500

1 Family

2 0

16

-20.00%

180

170

-5.56%

$733,500

$860,000

Condo

5

2

-60.00%

32

27

-15.63%

$430,000

2 9

18

-37.93%

233

212

-9.01%

$602,500

$815,000

All Sales

N/A

N/A

WILTON

All Sales

17.25%

$855,000

$777,000

N/A -100.00%

$419,500

$336,500 -19.79%

35.27%

$810,000

$719,500 -11.17%

FAIRFIELD COUNTY 1 Family

7 21

702

-2.64% 6,038

6,056

0.30%

$435,000

$435,000

0.00%

$472,500

$435,000

-7.94%

Condo

2 78

245

-11.87% 1,924

2,024

5.20%

$274,000

$255,000

-6.93%

$270,000

$255,000

-5.56%

1 ,196 1,128

-5.69% 9,523

9,753

2.42%

$359,950

$367,750

2.17%

$387,500

$365,000

-5.81%

All Sales

NOVEMBER 2016 | THE COMMERCIAL RECORD | 25

TRENDLINES

HARTFORD COUNTY SALES REPORT

NUMBER OF SALES SEP 2015

SEP %CHG 2015 2016 15-16 YTD

1 3 1 6 3 2

23 6 30

76.92% -62.50% -6.25%

187 115 327

2 1 7 3 8

11 2 14

-47.62% -71.43% -63.16%

2 6 1 5 4 2

19 3 22

6 2 9 9 2

2016 YTD

MEDIAN PRICE %CHG 15-16

SEP 2015

SEP %CHG 2015 2016 15-16 YTD

2016 %CHG YTD 15-16

192 84 294

2.67% -26.96% -10.09%

$461,000 $255,000 $340,000

$415,000 $208,250 $360,000

-9.98% -18.33% 5.88%

$445,000 $210,000 $323,000

$420,000 $202,500 $335,000

-5.62% -3.57% 3.72%

123 40 195

131 34 186

6.50% -15.00% -4.62%

$230,000 $229,900 $207,500

$258,000 12.17% N/A -100.00% $234,000 12.77%

$249,000 $229,450 $239,900

$250,000 $240,000 $242,500

0.40% 4.60% 1.08%

-26.92% -80.00% -47.62%

184 51 255

191 45 260

3.80% -11.76% 1.96%

$181,025 $175,000 $176,875

$198,500 $245,000 $201,250

9.65% 40.00% 13.78%

$179,575 $178,000 $180,000

$180,000 $235,000 $195,000

0.24% 32.02% 8.33%

57 10 79

-8.06% 11.11% -14.13%

384 71 555

422 94 641

9.90% 32.39% 15.50%

$171,250 $107,500 $168,000

$170,000 $122,750 $169,900

-0.73% 14.19% 1.13%

$179,000 $109,000 $167,000

$174,700 $101,000 $162,000

-2.40% -7.34% -2.99%

1 0 0 1 0

7 0 10

-30.00% N/A 0.00%

90 1 105

81 2 100

-10.00% 100.00% -4.76%

$404,950 N/A $404,950

$335,000 -17.27% $310,500 N/A N/A N/A $361,250 -10.79% $297,500

$264,000 -14.98% N/A N/A $290,000 -2.52%

1 6 5 2 4

6 6 13

-62.50% 20.00% -45.83%

82 34 136

83 29 124

1.22% -14.71% -8.82%

$294,500 $282,000 $285,500

$290,750 $105,000 $250,000

$312,000 -2.33% $150,000 -21.57% $269,950 -4.77%

4 1 5

-20.00% -50.00% -28.57%

39 8 54

60 7 74

53.85% -12.50% 37.04%

$315,000 N/A $315,000

$178,750 -43.25% $236,000 N/A N/A $97,500 $175,000 -44.44% $248,000

$256,750 $132,000 $253,288

8.79% 35.38% 2.13%

47 5 74

46.88% 400.00% 68.18%

316 38 448

364 32 507

15.19% -15.79% 13.17%

$131,000 N/A $108,000

$145,000 $77,000 $139,500

$149,000 $96,500 $145,000

11.61% 82.08% 10.58%

1 0 4 2 7

6 2 14

-40.00% -50.00% -48.15%

73 38 146

67 25 130

-8.22% -34.21% -10.96%

$182,450 $199,000 $179,900

$195,500 7.15% N/A -100.00% $136,250 -24.26%

$186,000 $155,950 $160,500

$210,000 $148,000 $167,000

12.90% -5.10% 4.05%

4 1 5 5 0

26 5 38

-36.59% 0.00% -24.00%

356 89 488

361 92 510

1.40% 3.37% 4.51%

$168,000 $117,500 $167,500

$183,000 $161,000 $165,500

8.93% 37.02% -1.19%

$167,000 $138,000 $163,225

$169,300 $134,950 $165,000

1.38% -2.21% 1.09%

15 13 33

-34.78% -27.78% -23.26%

159 125 324

175 135 342

10.06% 8.00% 5.56%

$345,000 $167,500 $245,000

$320,000 $170,000 $235,000

-7.25% 1.49% -4.08%

$340,000 $189,900 $275,000

$338,000 $190,000 $267,755

-0.59% 0.05% -2.63%

3 7 1 3 5 5

51 15 71

37.84% 15.38% 29.09%

302 102 461

362 105 515

19.87% 2.94% 11.71%

$340,000 $167,000 $320,000

$385,000 $188,750 $330,000

13.24% 13.02% 3.13%

$352,500 $175,000 $310,000

$344,500 $186,000 $315,000

-2.27% 6.29% 1.61%

2 0 1 2 2

14 1 15

-30.00% 0.00% -31.82%

118 15 150

111 11 147

-5.93% -26.67% -2.00%

$294,000 N/A $294,000

$292,000 N/A $284,000

-0.68% $281,000 N/A $174,900 -3.40% $266,500

$270,000 $190,000 $260,000

-3.91% 8.63% -2.44%

31 6 85

82.35% -25.00% 39.34%

187 82 531

213 86 632

13.90% 4.88% 19.02%

$115,000 $83,950 $138,555

$140,000 $67,750 $141,374

16 0 17

9 0 10

-43.75% N/A -41.18%

AVON 1 Family Condo All Sales

BERLIN 1 Family Condo All Sales

BLOOMFIELD 1 Family Condo All Sales

BRISTOL 1 Family Condo All Sales

BURLINGTON 1 Family Condo All Sales

CANTON 1 Family Condo All Sales

-1.27% -62.77% -12.43%

$319,450 $191,250 $283,475

EAST GRANBY 1 Family Condo All Sales

5 2 7

EAST HARTFORD 1 Family Condo All Sales

3 2 1 4 4

10.69% $133,500 N/A $53,000 29.17% $131,125

EAST WINDSOR 1 Family Condo All Sales

ENFIELD 1 Family Condo All Sales

FARMINGTON 1 Family Condo All Sales

2 3 1 8 4 3

GLASTONBURY 1 Family Condo All Sales

GRANBY 1 Family Condo All Sales

HARTFORD 1 Family Condo All Sales

1 7 8 6 1

21.74% -19.30% 2.03%

$108,000 $59,750 $115,000

$123,000 13.89% $46,750 -21.76% $125,000 8.70%

HARTLAND 1 Family Condo All Sales

0 0 0

0 0 0

N/A N/A N/A

26 | THE COMMERCIAL RECORD | NOVEMBER 2016

N/A N/A N/A

N/A N/A N/A

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

$265,000 12.77% N/A N/A $260,000 1.96%

Real estate & credit transactions updated every Thursday

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NUMBER OF SALES SEP 2015

SEP %CHG 2015 2016 15-16 YTD

2016 YTD

MEDIAN PRICE %CHG 15-16

SEP 2015

SEP %CHG 2015 2016 15-16 YTD

2016 %CHG YTD 15-16

MANCHESTER 1 Family Condo All Sales

5 1 1 0 6 9

43 3 57

-15.69% -70.00% -17.39%

365 64 510

409 74 607

12.05% 15.63% 19.02%

$162,000 $115,750 $159,900

$170,000 $43,101 $165,500

4.94% -62.76% 3.50%

$162,000 $113,750 $156,700

$166,000 2.47% $93,550 -17.76% $163,000 4.02%

MARLBOROUGH 1 Family Condo All Sales

8 0 8

7 0 8

-12.50% N/A 0.00%

65 7 86

65 2 73

0.00% -71.43% -15.12%

$291,250 N/A $291,250

$234,900 -19.35% $265,000 N/A N/A $203,000 $279,950 -3.88% $236,000

$276,000 4.15% N/A - 100.00% $272,500 15.47%

30 10 76

15.38% 0.00% 28.81%

265 56 497

293 45 568

10.57% -19.64% 14.29%

$131,500 $135,000 $135,000

$134,100 $100,600 $133,000

1.98% -25.48% -1.48%

$128,000 $77,300 $128,000

$134,900 $70,000 $132,000

5.39% -9.44% 3.13%

23 16 42

15.00% -5.88% 2.44%

214 91 344

212 124 375

-0.93% 36.26% 9.01%

$206,500 $149,000 $196,000

$215,000 $147,950 $194,000

4.12% -0.70% -1.02%

$210,000 $140,000 $195,000

$214,000 $136,500 $191,000

1.90% -2.50% -2.05%

10 5 15

-44.44% -28.57% -46.43%

110 40 178

103 39 177

-6.36% -2.50% -0.56%

$172,450 $319,900 $191,500

$166,500 $110,000 $146,000

-3.45% -65.61% -23.76%

$179,950 $147,000 $179,950

$185,000 2.81% $120,488 -18.04% $176,500 -1.92%

16 12 31

220.00% 9.09% 72.22%

90 86 197

103 113 240

14.44% 31.40% 21.83%

$249,000 $171,350 $175,350

$315,000 $176,500 $300,000

26.51% 3.01% 71.09%

$240,000 $165,625 $194,000

$292,000 $168,500 $218,250

21.67% 1.74% 12.50%

41 2 43

41.38% -60.00% 22.86%

232 57 303

294 60 368

26.72% 5.26% 21.45%

$265,000 $224,000 $265,000

$316,000 19.25% N/A -100.00% $299,900 13.17%

$319,250 $164,000 $295,000

$317,000 $165,750 $300,000

-0.70% 1.07% 1.69%

20 8 29

-13.04% -63.64% -40.82%

168 90 284

185 87 299

10.12% -3.33% 5.28%

$255,000 $149,250 $227,000

$285,250 $125,125 $210,000

11.86% -16.16% -7.49%

$264,000 $149,950 $237,260

$263,000 $159,000 $238,500

-0.38% 6.04% 0.52%

4 3 8 5 5

41 5 59

-4.65% -37.50% 7.27%

267 65 418

305 75 460

14.23% 15.38% 10.05%

$238,000 $155,750 $229,900

$270,500 $194,500 $253,500

13.66% 24.88% 10.27%

$249,000 $180,000 $230,450

$265,000 6.43% $146,500 -18.61% $235,000 1.97%

1 8 5 2 7

13 4 20

-27.78% -20.00% -25.93%

102 31 171

104 38 180

1.96% 22.58% 5.26%

$277,500 $315,000 $280,000

$245,000 $222,500 $238,750

-11.71% -29.37% -14.73%

$284,750 $187,450 $275,000

$290,750 2.11% $174,500 -6.91% $245,000 -10.91%

46 9 63

-22.03% -25.00% -20.25%

533 112 711

611 109 805

14.63% -2.68% 13.22%

$305,000 $284,950 $299,000

$285,000 $225,000 $250,000

-6.56% -21.04% -16.39%

$301,000 $246,475 $297,500

$300,000 -0.33% $210,000 -14.80% $287,500 -3.36%

2 3 1 2 4 0

30 6 37

30.43% -50.00% -7.50%

246 47 328

298 36 357

21.14% -23.40% 8.84%

$222,000 $150,500 $197,498

$256,250 $92,000 $250,000

15.43% -38.87% 26.58%

$225,000 $142,350 $211,494

$230,000 2.22% $125,250 -12.01% $222,000 4.97%

3 2 5 4 0

31 2 37

-3.13% -60.00% -7.50%

225 40 301

260 54 361

15.56% 35.00% 19.93%

$182,000 $189,900 $190,200

$224,900 23.57% N/A -100.00% $224,900 18.24%

$184,000 $185,250 $185,000

$185,000 0.54% $162,750 -12.15% $182,500 -1.35%

12 3 18

-20.00% N/A -14.29%

88 25 141

105 23 162

19.32% $156,900 -8.00% 14.89% $164,948

$173,250 $100,500 $162,000

-3.27% 5,586 -29.82% 1,620 -6.99% 8,661

6,169 1,660 9,504

10.44% 2.47% 9.73%

$227,500 $143,950 $203,250

NEW BRITAIN 1 Family Condo All Sales

2 6 1 0 5 9

NEWINGTON 1 Family Condo All Sales

2 0 1 7 4 1

PLAINVILLE 1 Family Condo All Sales

1 8 7 2 8

ROCKY HILL 1 Family Condo All Sales

5 1 1 1 8

SIMSBURY 1 Family Condo All Sales

2 9 5 3 5

SOUTH WINDSOR 1 Family Condo All Sales

2 3 2 2 4 9

SOUTHINGTON 1 Family Condo All Sales

SUFFIELD 1 Family Condo All Sales

WEST HARTFORD 1 Family Condo All Sales

5 9 1 2 7 9

WETHERSFIELD 1 Family Condo All Sales

WINDSOR 1 Family Condo All Sales

WINDSOR LOCKS 1 Family Condo All Sales

1 5 0 2 1

10.42% $156,950 N/A $126,000 -1.79% $156,900

$165,000 $129,000 $167,250

5.13% 2.38% 6.60%

$220,000 $150,000 $199,900

2.47% -3.85% 2.51%

HARTFORD COUNTY 1 Family Condo All Sales

7 03 680 2 28 160 1 ,116 1,038

$215,000 $169,950 $199,450

5.81% -15.30% 1.91%

$214,700 $156,000 $195,000

NOVEMBER 2016 | THE COMMERCIAL RECORD | 27

TRENDLINES

LITCHFIELD COUNTY SALES REPORT

NUMBER OF SALES SEP 2015

SEP %CHG 2015 2016 15-16 YTD

2016 YTD

MEDIAN PRICE %CHG 15-16

SEP 2015

SEP %CHG 2015 2016 15-16 YTD

2016 %CHG YTD 15-16

BARKHAMSTED 1 Family Condo All Sales

2 0 4

1 0 5

-50.00% N/A 25.00%

29 0 37

24 0 34

-17.24% N/A -8.11%

N/A N/A $200,000

N/A N/A $225,000 N/A N/A N/A $239,000 19.50% $222,500

$257,750 14.56% N/A N/A $257,750 15.84%

1 0 1

-87.50% N/A -87.50%

29 0 31

24 0 32

-17.24% N/A 3.23%

$212,500 N/A $212,500

N/A -100.00% $250,000 N/A N/A N/A N/A -100.00% $250,000

$247,850 -0.86% N/A N/A $236,750 -5.30%

2 0 4

4 0 6

100.00% N/A 50.00%

16 1 21

16 0 26

N/A N/A $603,725

$320,000 N/A $397,500 N/A N/A N/A $320,000 -47.00% $405,000

$320,000 -19.50% N/A N/A $320,000 -20.99%

1 0 1

1 0 2

0.00% N/A 100.00%

7 0 11

11 0 15

57.14% N/A 36.36%

N/A N/A N/A

1 0 1

-66.67% N/A -75.00%

11 0 14

17 0 19

54.55% N/A 35.71%

3 0 4

1 0 2

-66.67% N/A -50.00%

7 0 14

13 0 19

7 0 9

9 0 13

28.57% N/A 44.44%

43 0 58

7 0 1 1

6 0 6

-14.29% N/A -45.45%

4 0 6

4 0 7 5 2 10

BETHLEHEM 1 Family Condo All Sales

8 0 8

BRIDGEWATER 1 Family Condo All Sales

0.00% -100.00% 23.81%

CANAAN 1 Family Condo All Sales

N/A N/A N/A

N/A $285,000 N/A N/A N/A $285,000

$230,000 -19.30% N/A N/A $220,000 -22.81%

$155,000 N/A $177,500

N/A -100.00% $165,000 N/A N/A N/A N/A -100.00% $182,500

$199,500 20.91% N/A N/A $206,000 12.88%

85.71% N/A 35.71%

$600,000 N/A $365,000

N/A -100.00% $435,000 N/A N/A N/A N/A -100.00% $143,500

$300,000 -31.03% N/A N/A $390,000 171.78%

45 1 57

4.65% N/A -1.72%

$342,500 N/A $330,000

$255,000 -25.55% $315,000 N/A N/A N/A $255,000 -22.73% $300,000

$305,000 -3.17% N/A N/A $300,000 0.00%

47 0 75

60 1 80

27.66% N/A 6.67%

$240,000 N/A $225,000

$343,500 43.13% $225,000 N/A N/A N/A $343,500 52.67% $200,000

$255,500 13.56% N/A N/A $250,000 25.00%

0.00% N/A 16.67%

24 8 40

24 7 46

25.00% N/A -9.09%

48 5 84

58 9 98

20.83% 80.00% 16.67%

$275,000 N/A $220,000

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

25 0 30

10 0 17

-60.00% N/A -43.33%

$300,000 N/A $300,000

5 0 6

57 5 77

43 5 68

-24.56% 0.00% -11.69%

$286,500 N/A $191,500

$220,000 -23.21% $239,000 N/A N/A $71,000 $189,500 -1.04% $220,000

$229,100 $113,500 $201,000

-4.14% 59.86% -8.64%

198 62 309

229 46 337

15.66% -25.81% 9.06%

$250,000 $124,500 $233,000

$257,000 $137,563 $255,000

$270,000 $135,000 $245,000

-3.57% 20.00% 4.26%

14 0 20

15 0 22

$280,000 N/A $280,000

N/A -100.00% $212,500 N/A N/A N/A $275,000 -1.79% $171,500

COLEBROOK 1 Family Condo All Sales

3 0 4

CORNWALL 1 Family Condo All Sales

GOSHEN 1 Family Condo All Sales

HARWINTON 1 Family Condo All Sales

KENT 1 Family Condo All Sales

0.00% $350,000 $276,625 -12.50% 15.00% $253,000 $366,600

-20.96% $310,000 N/A $165,000 44.90% $282,750

$339,750 $169,900 $283,000

9.60% 2.97% 0.09%

LITCHFIELD 1 Family Condo All Sales

4 0 1 1

$300,000 9.09% $309,500 N/A N/A $269,000 $267,500 21.59% $273,000

$285,500 -7.75% $235,000 -12.64% $300,000 9.89%

MORRIS 1 Family Condo All Sales

5 0 5

N/A -100.00% $250,000 N/A N/A N/A N/A -100.00% $240,921

$260,750 4.30% N/A N/A $225,000 -6.61%

NEW HARTFORD 1 Family Condo All Sales

6 0 8

-16.67% N/A -25.00%

NEW MILFORD 1 Family Condo All Sales

2 7 7 3 8

33 6 43

6 0 6

2 0 3

22.22% -14.29% 13.16%

2.80% 10.49% 9.44%

$280,000 $112,500 $235,000

NORFOLK 1 Family Condo All Sales

-66.67% N/A -50.00%

7.14% N/A 10.00%

28 | THE COMMERCIAL RECORD | NOVEMBER 2016

$196,500 -7.53% N/A N/A $190,750 11.22%

Real estate & credit transactions updated every Thursday

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NUMBER OF SALES SEP 2015

SEP %CHG 2015 2016 15-16 YTD

2016 YTD

MEDIAN PRICE %CHG 15-16

SEP 2015

SEP %CHG 2015 2016 15-16 YTD

2016 %CHG YTD 15-16

NORTH CANAAN 1 Family

1

2

Condo

0

1

1

4

All Sales

100.00%

15

24

0

1

300.00%

25

39

56.00%

133.33%

71

79

11.27%

7

10

42.86%

N/A

60.00% N/A

N/A

N/A

N/A $141,000

N/A

N/A

N/A

N/A

$117,000

N/A

N/A $155,000

$153,900 N/A

9.15% N/A

$149,000

-3.87%

$166,000

2.47%

PLYMOUTH 1 Family

6

14

Condo

0

1

7

17

142.86%

98

111

13.27%

1 Family

2

1

-50.00%

24

24

0.00%

Condo

0

0

0

0

5

1

-80.00%

37

34

700.00%

25

38

52.00%

N/A

1

3

200.00%

N/A

All Sales

N/A

$173,050 N/A $183,850

$163,000 N/A $153,000

-5.81%

$162,000

N/A $124,840 -16.78%

$158,500

$93,950 -24.74% $154,000

-2.84%

ROXBURY

All Sales

N/A

N/A -8.11%

N/A

N/A

N/A $580,000

N/A

N/A

N/A

$420,000

N/A -100.00%

N/A $356,000

$497,500 -14.22% N/A $472,500

N/A 32.72%

SALISBURY 1 Family

1

8

Condo

0

1

3

11

266.67%

39

49

25.64%

1 Family

1

3

200.00%

30

34

13.33%

N/A

Condo

0

0

1

1

0.00%

N/A

2

3

50.00%

44

46

4.55%

N/A

All Sales

N/A

$250,000

$405,000 N/A $370,000

N/A $550,000 N/A 48.00%

N/A $475,000

$395,000 -28.18% $305,000

N/A

$345,000 -27.37%

SHARON

All Sales

N/A

$612,500 N/A $612,500

N/A $330,500 N/A

N/A

N/A $287,000

$331,250 N/A $305,000

0.23% N/A 6.27%

THOMASTON 1 Family

5

5

0.00%

39

38

-2.56%

Condo

1

1

0.00%

7

10

42.86%

8

7

-12.50%

59

57

-3.39%

$206,600

$192,000

All Sales

$193,200 N/A

$192,000 N/A

-0.62%

$197,700

$210,000

6.22%

N/A $109,000

$101,500

-6.88%

-7.07%

$195,000

$185,000

-5.13%

$132,250

5.80%

TORRINGTON 1 Family

4 2

35

-16.67%

239

298

24.69%

$126,250

$132,500

4.95%

$125,000

Condo

1 1

9

-18.18%

53

64

20.75%

$75,000

$58,000

-22.67%

$80,000

6 5

50

-23.08%

344

459

33.43%

$112,000

$112,250

0.22%

$114,900

$119,000

3.57%

1 Family

2

1

-50.00%

13

16

23.08%

$440,500

66.23%

Condo

0

0

0

0

3

3

0.00%

19

23

All Sales

$68,750 -14.06%

WARREN

All Sales

N/A

N/A

N/A

N/A

N/A $265,000

N/A

N/A

N/A

N/A

N/A

N/A

21.05%

$313,500

$321,000

2.39%

$265,000

$318,500

20.19%

$629,000

$507,500

-19.32%

$649,500

$500,000 -23.02%

WASHINGTON 1 Family

5

6

20.00%

38

44

15.79%

Condo

1

0 -100.00%

6

1

-83.33% -4.92%

$600,000

$460,000

-23.33%

$544,000

$467,500 -14.06%

$200,000

All Sales

7

9

28.57%

61

58

N/A

N/A

N/A $252,500

N/A - 100.00%

WATERTOWN 1 Family

1 9

19

0.00%

182

179

-1.65%

$215,000

Condo

3

3

0.00%

16

20

25.00%

$77,000

2 8

34

21.43%

246

256

4.07%

-15.38%

84

81

-3.57%

6

8

33.33% 13.51%

$130,000

$132,000

All Sales

-6.98%

$199,900

$191,700

-4.10%

$185,000 140.26%

$137,000

$163,250

19.16%

$194,000

$200,000

3.09%

$183,500

$185,000

0.82%

$130,000

$165,000

26.92%

$135,000

$148,900

10.30%

$52,450

$69,500

32.51%

1.54%

$130,000

$134,750

3.65%

WINCHESTER 1 Family

1 3

11

Condo

0

0

1 7

18

5.88%

111

126

All Sales

N/A

N/A

N/A

N/A

WOODBURY 1 Family

1 3

7

-46.15%

64

67

4.69%

$350,000

$270,000

-22.86%

$272,500

$345,000

26.61%

Condo

3

5

66.67%

40

25

-37.50%

$175,000

$110,000

-37.14%

$106,000

$130,000

22.64%

1 6

14

-12.50%

123

116

-5.69%

$330,000

$151,250

-54.17%

$250,000

$278,500

11.40%

-5.13% 1,379

-1.59%

All Sales

LITCHFIELD COUNTY 1 Family

1 95

185

Condo

2 6

29

2 81

276

All Sales

1,511

9.57%

$210,000

$215,000

2.38%

$220,000

$216,500

218

212

-2.75%

$92,524

$114,500

23.75%

$105,000

$111,250

5.95%

-1.78% 2,027

2,244

10.71%

$191,000

$193,750

1.44%

$193,000

$192,000

-0.52%

11.54%

NOVEMBER 2016 | THE COMMERCIAL RECORD | 29

TRENDLINES

MIDDLESEX COUNTY SALES REPORT

NUMBER OF SALES SEP 2015

SEP %CHG 2015 2016 15-16 YTD

2016 YTD

MEDIAN PRICE %CHG 15-16

SEP 2015

SEP %CHG 2015 2016 15-16 YTD

2016 %CHG YTD 15-16

CHESTER 1 Family Condo All Sales

3 0 4

5 0 6

66.67% N/A 50.00%

36 1 42

38 0 43

5.56% -100.00% 2.38%

$275,000 N/A $270,000

$220,000 -20.00% $335,000 N/A N/A N/A $258,500 -4.26% $320,625

$256,063 -23.56% N/A N/A $250,125 -21.99%

1 3 0 1 9

16 2 20

23.08% N/A 5.26%

130 15 162

136 29 198

4.62% 93.33% 22.22%

$229,000 N/A $190,000

$246,500 N/A $237,500

7.64% $252,450 N/A $150,000 25.00% $242,250

$263,950 $155,000 $239,000

4.56% 3.33% -1.34%

-16.67% -23.08% -18.52%

80 89 197

92 101 220

15.00% 13.48% 11.68%

$194,250 $128,000 $139,600

$252,250 $124,000 $194,250

29.86% -3.13% 39.15%

$223,500 $130,125 $180,000

$259,000 $132,000 $179,000

15.88% 1.44% -0.56%

5 0.00% 0 -100.00% 6 0.00%

31 6 41

44 5 56

41.94% -16.67% 36.59%

$210,000 N/A $202,500

$229,000 N/A $229,000

9.05% $225,000 N/A $141,225 13.09% $224,000

$233,700 $134,600 $233,700

3.87% -4.69% 4.33%

48 6 63

65 4 79

35.42% -33.33% 25.40%

$272,000 N/A $301,000

$207,250 -23.81% $320,000 N/A N/A $224,500 $207,250 -31.15% $289,000

$280,000 -12.50% $204,950 -8.71% $280,000 -3.11% $250,950 $203,677 $225,500

16.18% 49.76% 12.40% 6.22% 14.94% 10.26%

CLINTON 1 Family Condo All Sales

CROMWELL 1 Family Condo All Sales

1 2 1 3 2 7

10 10 22

DEEP RIVER 1 Family Condo All Sales

5 1 6

DURHAM 1 Family Condo All Sales

1 1 1 1 4

10 1 12

-9.09% 0.00% -14.29%

EAST HADDAM 1 Family Condo All Sales

1 1 0 1 5

14 1 22

27.27% N/A 46.67%

77 4 110

96 3 122

24.68% -25.00% 10.91%

$175,000 N/A $143,000

$206,250 N/A $211,339

17.86% $216,000 N/A $136,000 47.79% $200,625

20 3 29

5.26% 0.00% 20.83%

120 20 155

120 11 158

0.00% -45.00% 1.94%

$239,000 $195,000 $227,000

$257,500 $150,000 $230,000

7.74% -23.08% 1.32%

$241,000 $130,500 $229,000

$256,000 $150,000 $252,500

7 -22.22% 0 -100.00% 8 -50.00%

45 13 75

60 14 86

33.33% 7.69% 14.67%

$335,000 $219,950 $277,225

$319,000 -4.78% N/A -100.00% $304,500 9.84%

$369,500 $220,500 $295,000

$312,750 -15.36% $221,250 0.34% $284,000 -3.73%

EAST HAMPTON 1 Family Condo All Sales

1 9 3 2 4

ESSEX 1 Family Condo All Sales

9 4 1 6

HADDAM 1 Family Condo All Sales

9 0 1 2

9 0 10

0.00% N/A -16.67%

61 0 86

88 0 102

44.26% N/A 18.60%

$226,000 N/A $191,700

$250,000 N/A $247,500

10.62% $252,500 N/A N/A 29.11% $229,250

$254,000 N/A $245,000

0.59% N/A 6.87%

9 0 10

-10.00% N/A 0.00%

55 0 60

71 0 76

29.09% N/A 26.67%

$321,667 N/A $321,667

$319,900 N/A $327,900

-0.55% $365,000 N/A N/A 1.94% $367,500

$320,000 -12.33% N/A N/A $325,000 -11.56%

6 0 7

200.00% N/A 250.00%

33 3 42

34 4 48

3.03% 33.33% 14.29%

N/A N/A N/A

$277,500 N/A $305,000

23 15 50

-30.30% 36.36% -1.96%

249 86 387

229 102 403

-8.03% 18.60% 4.13%

$190,000 $121,388 $168,500

$238,000 $88,500 $160,250

25.26% -27.09% -4.90%

$198,000 $116,000 $175,000

$220,000 11.11% $102,250 -11.85% $173,200 -1.03%

14 2 21

-36.36% -33.33% -22.22%

151 18 194

103 11 153

-31.79% -38.89% -21.13%

$411,271 $390,000 $382,000

$425,000 3.34% N/A -100.00% $415,000 8.64%

$350,000 $335,325 $337,500

$363,000 $350,000 $350,000

3.71% 4.38% 3.70%

11 1 15

0.00% -50.00% -6.25%

77 17 112

86 12 126

11.69% -29.41% 12.50%

$205,000 N/A $217,500

$259,900 N/A $259,900

26.78% $205,000 N/A $170,000 19.49% $199,950

$235,875 $187,250 $224,700

15.06% 10.15% 12.38%

KILLINGWORTH 1 Family Condo All Sales

1 0 0 1 0

MIDDLEFIELD 1 Family Condo All Sales

2 0 2

N/A $240,000 N/A $197,500 N/A $237,500

$266,000 $198,450 $256,500

10.83% 0.48% 8.00%

MIDDLETOWN 1 Family Condo All Sales

3 3 1 1 5 1

OLD SAYBROOK 1 Family Condo All Sales

2 2 3 2 7

PORTLAND 1 Family Condo All Sales

1 1 2 1 6

30 | THE COMMERCIAL RECORD | NOVEMBER 2016

Real estate & credit transactions updated every Thursday

www.commercialrecord.com • subscribers only

NUMBER OF SALES SEP 2015

SEP %CHG 2015 2016 15-16 YTD

MEDIAN PRICE

2016 YTD

%CHG 15-16

5 1 20

37 4 65

640.00% 300.00% 225.00%

-5.26% 1,198 -7.89% 279 0.00% 1,746

1,299 300 1,935

8.43% 7.53% 10.82%

SEP 2015

SEP %CHG 2015 2016 15-16 YTD

2016 %CHG YTD 15-16

WESTBROOK 1 Family Condo All Sales

1 0 1

3 0 6

200.00% N/A 500.00%

N/A N/A N/A

$216,000 N/A $235,500

N/A $145,000 N/A N/A N/A $7,250

$295,000 103.45% $388,500 N/A $266,000 3568.97%

MIDDLESEX COUNTY 1 Family Condo All Sales

1 71 3 8 2 44

162 35 244

$240,000 $143,750 $212,720

$259,950 $125,000 $238,950

8.31% -13.04% 12.33%

$250,000 $138,000 $229,450

$260,000 $131,500 $235,000

4.00% -4.71% 2.42%

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NOVEMBER 2016 | THE COMMERCIAL RECORD | 31

TRENDLINES

NEW HAVEN COUNTY SALES REPORT

NUMBER OF SALES SEP 2015

SEP %CHG 2015 2016 15-16 YTD

2016 YTD

MEDIAN PRICE %CHG 15-16

SEP 2015

SEP %CHG 2015 2016 15-16 YTD

2016 %CHG YTD 15-16

ANSONIA 1 Family Condo All Sales

1 4 1 2 1

11 -21.43% 0 -100.00% 16 -23.81%

102 2 166

119 4 176

16.67% 100.00% 6.02%

$161,000 N/A $160,000

$185,000 14.91% $167,728 N/A N/A N/A $184,950 15.59% $160,000

$179,000 $107,500 $170,000

6.72% N/A 6.25%

4 3 9

7 75.00% 0 -100.00% 8 -11.11%

34 15 62

42 13 70

23.53% -13.33% 12.90%

$222,000 $188,000 $249,000

$340,000 53.15% N/A -100.00% $299,425 20.25%

$236,000 $313,700 $244,950

10.80% 24.98% 5.58%

4 0 6

8 0 8

100.00% N/A 33.33%

31 0 35

49 0 52

$360,750 N/A $360,750

$433,750 20.24% $339,000 N/A N/A N/A $433,750 20.24% $350,000

$337,500 -0.44% N/A N/A $322,750 -7.79%

17 16 41

-26.09% 0.00% -2.38%

161 143 367

162 121 337

0.62% -15.38% -8.17%

$316,950 $151,250 $254,500

$317,000 $145,000 $245,000

0.02% -4.13% -3.73%

$320,000 $154,000 $240,000

$312,443 $152,000 $225,000

-2.36% -1.30% -6.25%

3 0 5 4 0

25 5 35

-16.67% 0.00% -12.50%

228 49 306

227 52 320

-0.44% 6.12% 4.58%

$311,000 $153,000 $293,500

$271,000 $180,000 $265,000

-12.86% 17.65% -9.71%

$324,950 $152,500 $290,000

$305,000 $168,000 $283,750

-6.14% 10.16% -2.16%

1 0 0 2 0

8 4 17

-20.00% N/A -15.00%

63 27 122

63 32 133

0.00% 18.52% 9.02%

$153,750 N/A $156,000

$175,000 $129,750 $125,500

13.82% $160,000 N/A $130,000 -19.55% $139,950

$189,900 $126,500 $160,000

18.69% -2.69% 14.33%

22 4 31

-33.33% -33.33% -26.19%

200 59 287

223 78 338

11.50% 32.20% 17.77%

$186,430 $70,183 $177,000

$202,000 8.35% $289,973 313.17% $190,000 7.34%

$175,950 $115,000 $170,000

$181,000 $134,000 $178,950

2.87% 16.52% 5.26%

2 6 3 3 3

14 -46.15% 0 -100.00% 17 -48.48%

199 26 257

199 24 254

0.00% -7.69% -1.17%

$397,500 $337,000 $375,000

$395,000 -0.63% N/A -100.00% $390,000 4.00%

$354,000 $233,500 $345,000

$350,000 -1.13% $114,750 -50.86% $331,700 -3.86%

3 4 1 3 5 6

44 11 61

29.41% -15.38% 8.93%

331 88 485

412 89 576

24.47% 1.14% 18.76%

$181,000 $131,400 $179,250

$179,950 $100,000 $170,000

$197,500 $121,000 $180,000

$192,500 $112,000 $180,000

-2.53% -7.44% 0.00%

2 7 1 3 3

19 1 20

-29.63% 0.00% -39.39%

201 17 243

205 15 241

1.99% -11.76% -0.82%

$370,000 N/A $361,500

$400,000 N/A $392,500

8.11% $400,000 N/A $237,000 8.58% $397,500

$400,000 $230,000 $382,000

0.00% -2.95% -3.90%

5 1 1 2 7 5

43 10 72

-15.69% -16.67% -4.00%

358 84 554

408 111 656

13.97% 32.14% 18.41%

$152,000 $63,500 $133,000

$182,000 $104,950 $158,110

$149,450 $91,425 $134,900

$156,000 $93,000 $135,000

4.38% 1.72% 0.07%

9 2 1 4

9 2 16

0.00% 0.00% 14.29%

61 14 99

62 13 109

1.64% -7.14% 10.10%

$260,000 N/A $300,500

$245,000 -5.77% $280,000 N/A N/A $337,498 $242,500 -19.30% $299,000

$259,000 $450,000 $281,500

-7.50% 33.33% -5.85%

5 7 1 5 8 0

60 22 88

5.26% 46.67% 10.00%

395 129 599

437 143 663

10.63% 10.85% 10.68%

$298,000 $248,500 $284,500

$270,000 $139,500 $251,300

-9.40% -43.86% -11.67%

$274,900 $187,000 $260,000

$278,000 $170,500 $260,000

1.13% -8.82% 0.00%

24 5 34

-31.43% -16.67% -35.85%

222 46 323

236 47 335

6.31% 2.17% 3.72%

$142,800 $61,500 $125,000

$171,950 $88,000 $144,950

20.41% 43.09% 15.96%

$154,000 $60,025 $135,000

$162,535 $73,000 $149,000

5.54% 21.62% 10.37%

BEACON FALLS 1 Family Condo All Sales

$213,000 $251,000 $232,000

BETHANY 1 Family Condo All Sales

58.06% N/A 48.57%

BRANFORD 1 Family Condo All Sales

2 3 1 6 4 2

CHESHIRE 1 Family Condo All Sales

DERBY 1 Family Condo All Sales

EAST HAVEN 1 Family Condo All Sales

3 3 6 4 2

GUILFORD 1 Family Condo All Sales

HAMDEN 1 Family Condo All Sales

-0.58% -23.90% -5.16%

MADISON 1 Family Condo All Sales

MERIDEN 1 Family Condo All Sales

19.74% 65.28% 18.88%

MIDDLEBURY 1 Family Condo All Sales

MILFORD 1 Family Condo All Sales

NAUGATUCK 1 Family Condo All Sales

3 5 6 5 3

32 | THE COMMERCIAL RECORD | NOVEMBER 2016

Real estate & credit transactions updated every Thursday

www.commercialrecord.com • subscribers only

NUMBER OF SALES SEP 2015

SEP %CHG 2015 2016 15-16 YTD

MEDIAN PRICE

2016 YTD

%CHG 15-16

SEP 2015

SEP %CHG 2015 2016 15-16 YTD

2016 %CHG YTD 15-16

NEW HAVEN 1 Family Condo All Sales

2 7 1 4 8 7

34 18 97

25.93% 28.57% 11.49%

242 121 657

282 117 780

16.53% -3.31% 18.72%

$155,000 $111,875 $160,000

$171,200 $151,250 $166,000

10.45% 35.20% 3.75%

$163,500 $125,000 $156,250

$175,000 $133,000 $164,950

7.03% 6.40% 5.57%

14 7.69% 0 -100.00% 16 -30.43%

79 27 120

101 16 126

27.85% -40.74% 5.00%

$271,500 $139,000 $215,000

$232,750 -14.27% N/A -100.00% $232,750 8.26%

$265,000 $158,000 $234,950

$250,000 $155,000 $242,500

-5.66% -1.90% 3.21%

2 5 7 3 5

26 2 31

4.00% -71.43% -11.43%

181 19 222

196 19 262

8.29% 0.00% 18.02%

$266,000 $259,900 $259,900

$262,000 -1.50% N/A -100.00% $275,000 5.81%

$263,500 $233,300 $262,425

$262,000 $228,000 $261,000

-0.57% -2.27% -0.54%

2 2 3 3 2

10 1 12

-54.55% -66.67% -62.50%

117 10 149

118 5 146

0.85% -50.00% -2.01%

$367,000 $240,000 $358,400

$314,000 -14.44% N/A -100.00% $316,500 -11.69%

$355,000 $445,050 $359,900

$340,000 $498,368 $357,000

-4.23% 11.98% -0.81%

1 2 4 2 0

11 2 22

-8.33% -50.00% 10.00%

70 26 130

90 22 149

28.57% -15.38% 14.62%

$297,500 $349,948 $329,450

$285,000 -4.20% N/A -100.00% $323,500 -1.81%

$302,500 $372,498 $354,000

$327,500 $370,000 $345,565

8.26% -0.67% -2.38%

12 -20.00% 0 -100.00% 16 -30.43%

85 12 120

71 23 112

-16.47% 91.67% -6.67%

$263,000 $191,125 $225,000

$260,500 -0.95% N/A -100.00% $261,750 16.33%

$262,000 $348,680 $268,450

$262,500 $363,856 $280,403

0.19% 4.35% 4.45%

17 1 20

41.67% -75.00% 0.00%

114 25 168

128 24 181

12.28% -4.00% 7.74%

$129,500 $82,500 $124,500

$240,000 85.33% N/A -100.00% $234,750 88.55%

$213,750 $98,500 $189,500

$215,500 $98,000 $192,000

0.82% -0.51% 1.32%

18 18 40

12.50% -10.00% 5.26%

126 165 326

164 194 385

30.16% 17.58% 18.10%

$379,950 $130,000 $241,250

$347,000 $145,250 $257,000

-8.67% 11.73% 6.53%

$355,500 $122,500 $190,450

$335,000 $125,500 $197,500

-5.77% 2.45% 3.70%

33 9 46

6.45% -43.75% -13.21%

252 100 412

305 98 475

21.03% -2.00% 15.29%

$262,500 $158,625 $230,000

$244,000 $210,000 $246,000

-7.05% 32.39% 6.96%

$250,000 $165,000 $230,000

$242,000 $176,298 $235,000

-3.20% 6.85% 2.17%

67 14 118

-10.67% -12.50% 5.36%

452 179 882

534 141 938

18.14% -21.23% 6.35%

$76,000 $50,000 $72,000

$110,000 $52,000 $105,350

44.74% 4.00% 46.32%

$96,700 $45,000 $75,000

$103,500 $53,000 $88,000

7.03% 17.78% 17.33%

52 9 72

23.81% 12.50% 24.14%

271 63 418

317 69 487

16.97% 9.52% 16.51%

$162,000 $114,000 $159,450

$174,000 $115,000 $158,250

7.41% 0.88% -0.75%

$155,000 $100,000 $150,000

$159,500 $105,000 $158,000

2.90% 5.00% 5.33%

8 -50.00% 0 -100.00% 12 -36.84%

129 15 159

113 10 150

-12.40% -33.33% -5.66%

$180,700 N/A $179,900

$199,750 10.54% $195,000 N/A N/A $276,000 $199,750 11.03% $195,000

$215,000 10.26% $173,000 -37.32% $201,250 3.21%

12 0 12

98 0 107

103 0 108

$442,000 N/A $425,000

$413,250 N/A $413,250

-6.50% $402,500 N/A N/A -2.76% $400,000

$370,000 -8.07% N/A N/A $365,000 -8.75%

-7.13% 4,802 -17.65% 1,461 -7.30% 7,775

5,366 1,480 8,559

$217,000 $140,000 $190,000

$218,000 $138,000 $190,250

0.46% -1.43% 0.13%

$216,550 $130,000 $191,000

NORTH BRANFORD 1 Family Condo All Sales

1 3 7 2 3

NORTH HAVEN 1 Family Condo All Sales

ORANGE 1 Family Condo All Sales

OXFORD 1 Family Condo All Sales

PROSPECT 1 Family Condo All Sales

1 5 3 2 3

SEYMOUR 1 Family Condo All Sales

1 2 4 2 0

SOUTHBURY 1 Family Condo All Sales

1 6 2 0 3 8

WALLINGFORD 1 Family Condo All Sales

3 1 1 6 5 3

WATERBURY 1 Family Condo All Sales

7 5 1 6 1 12

WEST HAVEN 1 Family Condo All Sales

4 2 8 5 8

WOLCOTT 1 Family Condo All Sales

1 6 2 1 9

WOODBRIDGE 1 Family Condo All Sales

1 0 0 1 1

20.00% N/A 9.09%

5.10% N/A 0.93%

NEW HAVEN COUNTY 1 Family Condo All Sales

6 73 1 87 1 ,055

625 154 978

11.75% 1.30% 10.08%

$220,000 $130,000 $187,000

-1.57% 0.00% 2.14%

NOVEMBER 2016 | THE COMMERCIAL RECORD | 33

TRENDLINES

NEW LONDON COUNTY SALES REPORT

NUMBER OF SALES SEP 2015

SEP %CHG 2015 2016 15-16 YTD

MEDIAN PRICE

2016 YTD

%CHG 15-16 21.05% N/A 7.69%

SEP 2015

SEP %CHG 2015 2016 15-16 YTD

2016 %CHG YTD 15-16

BOZRAH 1 Family Condo All Sales

1 0 1

3 0 4

200.00% N/A 300.00%

19 0 26

23 0 28

11 2 18

-15.38% 0.00% 5.88%

119 20 161

146 18 189

22.69% -10.00% 17.39%

22 11 36

29.41% 83.33% 24.14%

153 48 268

160 48 251

2 0 3

-50.00% N/A -50.00%

14 0 25

N/A N/A N/A

$165,000 N/A $200,000

N/A $172,500 N/A N/A N/A $200,000

$175,000 1.45% N/A N/A $177,500 -11.25%

COLCHESTER 1 Family Condo All Sales

1 3 2 1 7

$205,000 N/A $230,000

$187,000 -8.78% $220,000 N/A N/A $159,000 $191,000 -16.96% $217,500

$237,450 $207,500 $230,000

7.93% 30.50% 5.75%

4.58% 0.00% -6.34%

$265,000 $197,500 $265,000

$269,450 $173,000 $214,500

$277,000 $177,000 $260,000

-6.42% -4.32% 6.56%

19 0 24

35.71% N/A -4.00%

$143,950 N/A $184,950

N/A -100.00% $187,250 N/A N/A N/A $310,000 67.61% $190,000

$212,500 13.48% N/A N/A $206,250 8.55%

47 6 69

47 6 81

0.00% 0.00% 17.39%

$182,500 92.11% $164,700 N/A N/A $66,750 $182,500 153.41% $139,000

$140,000 -15.00% $99,950 49.74% $112,000 -19.42%

178 69 286

218 45 323

22.47% -34.78% 12.94%

$269,900 $124,500 $203,950

$207,500 $109,112 $205,000

$223,450 -10.67% $110,000 -14.73% $201,000 0.53%

50 0 71

67 0 78

34.00% N/A 9.86%

$152,500 N/A $168,500

$197,000 29.18% $183,500 N/A N/A N/A $220,000 30.56% $168,500

$195,000 6.27% N/A N/A $188,450 11.84%

146 8 170

187 11 221

28.08% 37.50% 30.00%

$220,000 N/A $197,500

$220,000 0.00% $195,500 N/A N/A $69,750 $219,900 11.34% $191,000

$204,000 4.35% $46,000 -34.05% $202,000 5.76%

EAST LYME 1 Family Condo All Sales

1 7 6 2 9

1.68% -12.41% -19.06%

$296,000 $185,000 $244,000

FRANKLIN 1 Family Condo All Sales

4 0 6

GRISWOLD 1 Family Condo All Sales

5 1 9

8 60.00% 0 -100.00% 12 33.33%

$95,000 N/A $72,019

2 1 7 3 4

28 8 45

6 0 9

8 0 9

1 5 1 1 6

23 2 27

2 0 4

2 0 3

0.00% N/A -25.00%

29 0 45

31 0 46

6.90% N/A 2.22%

N/A N/A $149,000

N/A N/A $185,000 N/A N/A N/A $249,900 67.72% $170,000

$205,000 10.81% N/A N/A $171,400 0.82%

3 0 4

7 0 7

133.33% N/A 75.00%

15 0 26

31 0 42

106.67% N/A 61.54%

$479,000 N/A $494,500

$360,000 -24.84% $510,000 N/A N/A N/A $360,000 -27.20% $505,000

$395,000 -22.55% N/A N/A $376,000 -25.54%

20 1 24

185.71% N/A 118.18%

123 7 152

142 5 184

15.45% -28.57% 21.05%

$199,900 N/A $190,000

$167,732 -16.09% $180,000 N/A N/A $48,000 $160,232 -15.67% $170,000

$180,000 $52,000 $173,750

0.00% 8.33% 2.21%

13 3 30

-18.75% 50.00% 42.86%

141 23 234

111 30 248

-21.28% 30.43% 5.98%

$156,450 N/A $159,900

$188,500 $142,000 $114,500

$147,000 $133,000 $130,000

3.59% 92.75% -6.31%

61 0 84

57 0 76

$210,000 N/A $158,000

$210,000 0.00% $219,000 N/A N/A N/A $265,000 67.72% $215,500

$240,000 9.59% N/A N/A $230,314 6.87%

160 27 251

160 42 269

$128,500 $69,020 $108,000

$125,000 $101,250 $106,000

GROTON 1 Family Condo All Sales

33.33% 14.29% 32.35%

-23.12% -12.36% 0.51%

$250,128 $129,000 $199,950

LEBANON 1 Family Condo All Sales

33.33% N/A 0.00%

LEDYARD 1 Family Condo All Sales

53.33% 100.00% 68.75%

LISBON 1 Family Condo All Sales

LYME 1 Family Condo All Sales

MONTVILLE 1 Family Condo All Sales

7 0 1 1

NEW LONDON 1 Family Condo All Sales

1 6 2 2 1

20.49% $141,900 N/A $69,000 -28.39% $138,750

NORTH STONINGTON 1 Family Condo All Sales

9 0 1 5

9 0 10

0.00% N/A -33.33%

2 3 4 3 6

18 3 25

-21.74% -25.00% -30.56%

-6.56% N/A -9.52%

NORWICH 1 Family Condo All Sales

0.00% 55.56% 7.17%

34 | THE COMMERCIAL RECORD | NOVEMBER 2016

$91,000 $65,750 $88,950

41.21% 4.97% 21.42%

$99,250 $102,500 $98,000

25.94% -1.22% 8.16%

Real estate & credit transactions updated every Thursday

www.commercialrecord.com • subscribers only

NUMBER OF SALES SEP 2015

SEP %CHG 2015 2016 15-16 YTD

2016 YTD

MEDIAN PRICE %CHG 15-16

SEP 2015

$325,000

SEP %CHG 2015 2016 15-16 YTD

2016 %CHG YTD 15-16

OLD LYME 1 Family

3

6

Condo

0

0

4

9

All Sales

100.00%

78

56

-28.21%

3

4

33.33%

125.00%

106

80

-24.53%

$271,500

$363,000

33.70%

$379,583

$338,750 -10.76%

-18.18%

50

44

-12.00%

$126,000

$221,500

75.79%

$185,950

$216,450

0

2

N/A

N/A

$392,500 N/A

20.77%

$402,500

N/A $410,000

$345,000 -14.29% $252,500 -38.41%

PRESTON 1 Family

1 1

9

Condo

0

1

1 3

12

-7.69%

68

59

-13.24%

$125,000

$190,250

52.20%

$183,950

$208,200

13.18%

1 Family

6

6

0.00%

36

30

-16.67%

$202,500

$229,500

13.33%

$257,950

$269,000

4.28%

Condo

0

0

2

2

0.00%

8

10

25.00%

49

45

-8.16%

1 Family

2

2

0.00%

18

25

38.89%

Condo

0

0

0

0

2

3

50.00%

24

30

25.00%

All Sales

N/A

N/A

N/A

N/A

N/A

N/A

N/A

16.40% N/A

SALEM

All Sales

N/A

N/A $124,175

N/A $187,500

N/A 51.00%

N/A $247,000

N/A

N/A

$219,000 -11.34%

SPRAGUE

All Sales

N/A

N/A

N/A

N/A

N/A $201,000

N/A

N/A

N/A

N/A

$173,145

N/A

N/A $201,000

$190,000 N/A

-5.47% N/A

$172,573 -14.14%

STONINGTON 1 Family

2 1

12

-42.86%

151

123

-18.54%

Condo

2

1

-50.00%

22

9

-59.09%

2 6

20

-23.08%

210

207

-1.43%

$290,000

$210,000

-27.59%

$290,000

$280,000

0.00%

20

35

75.00%

$187,000

$254,950

36.34%

$195,000

$171,000 -12.31%

0

0

25.00%

22

43

All Sales

$290,000 N/A

$248,750 N/A

-14.22%

$307,500

N/A $421,000

$319,000

3.74%

$290,000 -31.12% -3.45%

VOLUNTOWN 1 Family

4

4

Condo

0

0

4

5

All Sales

N/A

N/A

N/A

N/A

N/A

N/A

N/A

N/A

95.45%

$187,000

$250,000

33.69%

$195,000

$149,900 -23.13%

WATERFORD 1 Family

2 7

25

-7.41%

218

236

8.26%

$200,000

$210,000

5.00%

$227,125

$215,000

Condo

3

4

33.33%

38

32

-15.79%

$155,000

$169,500

9.35%

$147,500

$147,750

0.17%

3 0

32

6.67%

283

300

6.01%

$181,700

$205,389

13.04%

$215,000

$202,250

-5.93%

10.19% 1,826

All Sales

-5.34%

NEW LONDON COUNTY 1 Family

2 16

238

Condo

2 8

36

2 99

344

All Sales

1,948

6.68%

$200,000

$210,000

5.00%

$213,000

$210,000

-1.41%

273

254

-6.96%

$150,000

$143,950

-4.03%

$145,000

$132,000

-8.97%

15.05% 2,630

2,824

7.38%

$186,000

$195,000

4.84%

$196,750

$190,000

-3.43%

28.57%

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

NOVEMBER 2016 | THE COMMERCIAL RECORD | 35

TRENDLINES

TOLLAND COUNTY SALES REPORT

NUMBER OF SALES SEP 2015

SEP %CHG 2015 2016 15-16 YTD

MEDIAN PRICE

2016 YTD

%CHG 15-16

SEP 2015

SEP %CHG 2015 2016 15-16 YTD

2016 %CHG YTD 15-16

ANDOVER 1 Family Condo All Sales

3 0 4

4 0 5

33.33% N/A 25.00%

26 0 34

30 0 38

15.38% N/A 11.76%

$219,000 N/A $147,000

$243,000 10.96% $219,500 N/A N/A N/A $226,000 53.74% $194,450

$239,500 9.11% N/A N/A $228,000 17.25%

5 0 6

5 0 6

0.00% N/A 0.00%

35 0 46

41 0 50

17.14% N/A 8.70%

$179,500 N/A $172,200

$245,000 36.49% $237,000 N/A N/A N/A $236,750 37.49% $206,250

$245,000 3.38% N/A N/A $247,500 20.00%

4 0 5

-60.00% N/A -58.33%

62 0 77

53 0 60

-14.52% N/A -22.08%

$240,000 N/A $240,000

$248,350 3.48% $222,750 N/A N/A N/A $275,000 14.58% $220,000

$206,000 -7.52% N/A N/A $204,250 -7.16%

BOLTON 1 Family Condo All Sales

COLUMBIA 1 Family Condo All Sales

1 0 0 1 2

COVENTRY 1 Family Condo All Sales

1 5 3 2 1

16 1 18

6.67% -66.67% -14.29%

116 7 159

110 9 149

-5.17% 28.57% -6.29%

$233,000 $130,000 $217,500

$245,000 5.15% N/A -100.00% $245,000 12.64%

$215,000 $116,600 $209,000

$205,500 $125,000 $202,000

-4.42% 7.20% -3.35%

1 4 2 2 0

16 2 21

14.29% 0.00% 5.00%

94 21 148

86 20 144

-8.51% -4.76% -2.70%

$209,000 N/A $209,000

$232,000 11.00% $241,200 N/A N/A $128,000 $230,000 10.05% $236,250

$232,000 $122,500 $229,950

-3.81% -4.30% -2.67%

1 1 0 1 3

11 1 12

0.00% N/A -7.69%

78 0 93

113 4 127

44.87% N/A 36.56%

$255,000 N/A $255,000

$174,000 -31.76% $277,750 N/A N/A N/A $175,500 -31.18% $275,000

$245,400 -11.65% $250,000 N/A $244,000 -11.27%

8 0 1 0

8 7 18

0.00% N/A 80.00%

77 19 116

105 47 177

36.36% 147.37% 52.59%

$232,500 N/A $222,500

$237,500 $215,000 $237,500

$222,000 $234,900 $230,000

0.45% 46.90% 10.58%

9 0 1 1

8 1 9

-11.11% N/A -18.18%

68 2 94

76 6 96

11.76% 200.00% 2.13%

$235,000 N/A $252,500

$218,250 -7.13% $264,450 N/A N/A N/A $224,000 -11.29% $264,450

$270,000 $361,450 $269,500

2.10% N/A 1.91%

85 13 126

78 7 134

-8.24% -46.15% 6.35%

$175,450 N/A $104,575

$209,000 19.12% $176,500 N/A N/A $97,000 $206,500 97.47% $156,775

$209,000 $125,000 $166,250

18.41% 28.87% 6.04%

110 8 130

132 11 161

20.00% 37.50% 23.85%

$269,000 N/A $247,500

$212,950 -20.84% $277,500 N/A N/A $142,250 $210,900 -14.79% $253,500

$240,750 -13.24% $132,000 -7.21% $239,000 -5.72%

7 0 11

4 0 5

ELLINGTON 1 Family Condo All Sales

HEBRON 1 Family Condo All Sales

MANSFIELD 1 Family Condo All Sales

2.15% $221,000 N/A $159,900 6.74% $208,000

SOMERS 1 Family Condo All Sales

STAFFORD 1 Family Condo All Sales

1 2 1 1 8

6 -50.00% 0 -100.00% 8 -55.56%

TOLLAND 1 Family Condo All Sales

1 4 2 1 6

10 2 15

-28.57% 0.00% -6.25%

0 0 1

0 0 1

2 6 9 4 3

17 4 29

-34.62% -55.56% -32.56%

189 76 313

186 59 301

-1.59% -22.37% -3.83%

8 0 10

60.00% N/A 100.00%

45 3 55

29 0 38

-35.56% -100.00% -30.91%

-14.39% 992 5.88% 149 -12.78% 1,402

1,043 163 1,480

5.14% 9.40% 5.56%

UNION 1 Family Condo All Sales

N/A N/A 0.00%

-42.86% N/A -54.55%

N/A N/A N/A

N/A N/A N/A

N/A $144,000 N/A N/A N/A $144,000

$196,250 36.28% N/A N/A $199,000 38.19%

VERNON 1 Family Condo All Sales

$187,500 $142,000 $179,000

$215,000 $107,500 $180,000

14.67% -24.30% 0.56%

$181,000 $113,750 $158,000

$178,700 $118,500 $165,000

-1.27% 4.18% 4.43%

$170,000 N/A $170,000

$262,500 54.41% $200,600 N/A N/A $107,000 $230,000 35.29% $189,900

$225,000 12.16% N/A - 100.00% $221,500 16.64%

$216,000 $130,000 $205,000

$228,500 $173,651 $220,000

$220,000 $140,750 $212,700

WILLINGTON 1 Family Condo All Sales

5 0 5

TOLLAND COUNTY 1 Family Condo All Sales

1 32 1 7 1 80

113 18 157

36 | THE COMMERCIAL RECORD | NOVEMBER 2016

5.79% 33.58% 7.32%

$220,000 $116,000 $205,000

0.00% 21.34% 3.76%

TRENDLINES

WINDHAM COUNTY SALES REPORT

NUMBER OF SALES SEP 2015

SEP %CHG 2015 2016 15-16 YTD

MEDIAN PRICE

2016 YTD

%CHG 15-16

30.43% N/A 35.48%

SEP 2015

SEP %CHG 2015 2016 15-16 YTD

2016 %CHG YTD 15-16

ASHFORD 1 Family Condo All Sales

2 0 2

4 0 6

100.00% N/A 200.00%

23 0 31

30 0 42

10 0 12

25.00% N/A -14.29%

93 3 126

86 4 123

4 0 5

7 0 8

75.00% N/A 60.00%

37 0 50

3 0 4

3 0 3

0.00% N/A -25.00%

2 1 3

N/A N/A N/A

$157,450 N/A $114,950

N/A $167,000 N/A N/A N/A $160,000

$185,000 10.78% N/A N/A $168,450 5.28%

BROOKLYN 1 Family Condo All Sales

8 0 1 4

-7.53% 33.33% -2.38%

$178,250 N/A $167,750

$180,513 1.27% $179,500 N/A N/A $190,000 $205,563 22.54% $173,950

$202,000 $229,000 $186,000

12.53% 20.53% 6.93%

43 0 68

16.22% N/A 36.00%

$219,500 N/A $205,000

$189,900 -13.49% $182,000 N/A N/A N/A $216,200 5.46% $179,200

$215,000 18.13% N/A N/A $185,750 3.66%

19 0 22

19 0 26

0.00% N/A 18.18%

$175,000 N/A $195,000

$270,000 54.29% $154,000 N/A N/A N/A $270,000 38.46% $149,500

$180,000 16.88% N/A N/A $168,870 12.96%

-33.33% N/A -50.00%

11 0 24

14 1 25

27.27% N/A 4.17%

$134,900 N/A $315,000

N/A -100.00% $195,000 N/A N/A N/A $205,000 -34.92% $213,300

$211,000 8.21% N/A N/A $197,000 -7.64%

2 0 5

0.00% N/A 150.00%

9 0 17

14 0 35

55.56% N/A 105.88%

N/A N/A N/A

N/A N/A $125,000

$197,000 0.51% N/A N/A $125,000 -21.88%

13 2 23

-27.78% N/A -11.54%

97 15 158

129 13 199

32.99% -13.33% 25.95%

$164,500 N/A $147,400

$165,000 N/A $149,000

95 3 146

92 2 129

-3.16% -33.33% -11.64%

$138,800 N/A $133,500

$139,900 0.79% $140,900 N/A N/A $74,700 $150,450 12.70% $139,400

-50.00% N/A -50.00%

24 0 49

35 0 56

14.29% 300.00% 9.09%

55 16 98

69 28 128

2 0 2

N/A N/A 100.00%

16 0 22

19 0 21

3 0 3

-70.00% N/A -72.73%

41 3 58

39 2 53

-4.88% -33.33% -8.62%

$177,500 N/A $180,000

$209,900 18.25% $171,400 N/A N/A $70,000 $209,900 16.61% $153,450

$182,900 6.71% N/A - 100.00% $171,000 11.44%

8 0 1 1

20 0 24

150.00% N/A 118.18%

71 2 101

115 4 144

61.97% 100.00% 42.57%

$175,500 N/A $120,000

$192,250 9.54% $190,550 N/A N/A N/A $192,250 60.21% $172,000

$185,000 $137,450 $184,000

-2.91% N/A 6.98%

1 2 1 1 7

19 58.33% 0 -100.00% 24 41.18%

95 4 151

117 4 159

23.16% 0.00% 5.30%

$99,950 N/A $100,900

$124,000 24.06% $118,000 N/A N/A $112,750 $126,500 25.37% $115,000

$135,000 $119,950 $127,500

14.41% 6.39% 10.87%

8 2 14

81 7 113

83 12 139

2.47% 71.43% 23.01%

$320,000 N/A $320,000

$272,500 -14.84% $235,000 N/A N/A $154,500 $215,000 -32.81% $210,000

$245,000 4.26% $120,000 -22.33% $220,000 4.76%

0.93% 767 200.00% 53 -1.96% 1,166

904 70 1,347

17.86% 32.08% 15.52%

$175,000 $111,800 $156,000

$175,000 $170,000 $169,950

$170,000 $139,950 $160,000

CANTERBURY 1 Family Condo All Sales

CHAPLIN 1 Family Condo All Sales

EASTFORD 1 Family Condo All Sales

3 0 6

HAMPTON 1 Family Condo All Sales

2 0 2

N/A $196,000 N/A N/A N/A $160,000

KILLINGLY 1 Family Condo All Sales

1 8 0 2 6

0.30% $151,000 N/A $112,500 1.09% $135,000

$150,000 $139,900 $147,000

-0.66% 24.36% 8.89%

PLAINFIELD 1 Family Condo All Sales

1 3 1 1 7

7 -46.15% 0 -100.00% 8 -52.94%

2 0 6

1 0 3

7 1 1 1

8 4 12

$135,000 -4.19% N/A - 100.00% $140,000 0.43%

POMFRET 1 Family Condo All Sales

45.83% N/A 14.29%

N/A N/A $223,576

25.45% 75.00% 30.61%

$147,500 N/A $130,000

N/A N/A $312,500 N/A N/A N/A $51,000 -77.19% $196,500

$248,000 -20.64% N/A N/A $237,500 20.87%

PUTNAM 1 Family Condo All Sales

$130,000 $205,465 $155,000

-11.86% $153,500 N/A $163,750 19.23% $149,950

$148,000 $177,500 $140,000

-3.58% 8.40% -6.64%

SCOTLAND 1 Family Condo All Sales

0 0 1

18.75% N/A -4.55%

N/A N/A N/A

N/A N/A N/A

N/A $155,500 N/A N/A N/A $152,500

$175,000 12.54% N/A N/A $175,000 14.75%

STERLING 1 Family Condo All Sales

1 0 0 1 1

THOMPSON 1 Family Condo All Sales

WINDHAM 1 Family Condo All Sales

WOODSTOCK 1 Family Condo All Sales

1 6 0 2 0

-50.00% N/A -30.00%

WINDHAM COUNTY 1 Family Condo All Sales

1 08 3 1 53

109 9 150

0.00% 52.06% 8.94%

$166,500 $134,549 $152,694

2.10% 4.01% 4.78%

NOVEMBER 2016 | THE COMMERCIAL RECORD | 37

FAIRFIELD COUNTY GOSSIP REPORT

1

DARIEN

2

3

WESTPORT

NEW CANAAN

ADDRESS: 36 Minute Man Hill, Westport PRICE: $5,000,000 SIZE: 6,177 square feet on 1 acre BUYER:36 Minute Man Hill LLC SELLER: Keith H. Stein and J. Brett Aronow SOLD: 10/7/2016 ADDRESS: 6-6A Cross Road, Darien

ADDRESS: 809 Weed St., New Canaan

PRICE: $5,620,000

PRICE: $4,750,000

SIZE: 7,630 square feet on 1.59 acres

SIZE: 7,159 square feet on 1.7 acres

BUYER: Christopher R. Amen and Karen R. Amen

BUYER: MLW 809 Weed LLC

SELLER: DFK LLC

SELLER: Marlous Sutorius-Lagarde and Michel Lagarde

SOLD: 9/19/16

SOLD: 9/20/2016

4

NEW CANAAN

ADDRESS: 114 Skyview Lane, New Canaan PRICE: $4,060,000

4 3

SIZE: 7,200 square feet on 2.04 acres BUYER: Amanda Morgan and Ryan Morgan SELLER: Lisa West and John West SOLD: 9/22/16

5

5 GREENWICH

ADDRESS: 41 Rock Ridge Ave., Greenwich PRICE: $3,875,000

2

SIZE: 5,922 square feet on 2.64 acres BUYER: Amanda L. Sihweil and Omar S. Sihweil SELLER: Michael P. Connors and Theresa T. Connors

1

SOLD: 10/3/16

This month’s top sale is brand-new construction in the heart of Darien. Designed by Alex Kaali Nagy Architects, the six-bedroom, eight-bathroom home features bright living areas with custom millwork, high ceilings and tall windows, as well as a large, professionally equipped kitchen that opens to a family room with a 24-foot vaulted, coffered ceiling and French doors to the columned wraparound stone terrace with outdoor fireplace.

38 | THE COMMERCIAL RECORD | NOVEMBER 2016

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