1157 Chapel St., New Haven
The Colony Inn, located at 1157 Chapel St. in New Haven, has been sold for nearly $6.9 million. Bernie Diana of Levey Miller Maretz Commercial Realtors brokered the transaction.
The inn is a 5-story, 86-room hotel that includes six suites, a restaurant and banquet facilities. The hotel also has its own underground parking garage.
The hotel was built in 1962, purchased by 1157 Chapel Street LLC in 1984 and completely renovated and expanded after that sale. It has been continuously updated and refurbished by sellers.
The inn, which is adjacent to the Yale University campus, catered to Yale alumni, staff, students and visitors to New Haven.
Ownership transferred on Dec. 18 to Hospitality 3 LLC.
The new owners have said they plan creative innovation in the renovation of the hotel. They also will be adding two floors to the existing structure.
Attorney Carl Porto Jr. of Parrett Porto Parese & Colwell represented the seller and attorney Gail McTaggart of Secor, Cassidy & McPartland represented the buyer.
Diana specializes in the sale of existing hospitality properties and land for hospitality development. He is responsible for the sale of the former Howard Johnson’s on Long Wharf in New Haven, which is now a Fairfield Inn. He also was the broker on the sale of the Grantmoor Motel on the Berlin Turnpike in Newington.
Diana is presently working with hospitality developers looking for new opportunities in Connecticut.
Charkit Buys Condo
Charkit Chemical Corp., a specialty chemical company based in Darien, recently purchased a 21,000-square-foot interest in Coachworks Condominium. Located at 34 Haviland St., it is a mixed-use Class A office and residential property located in the historic waterfront section of South Norwalk.
Charkit Chemical will initially occupy 12,600 rentable square feet with the intention of growing into the balance of the space over the next five years. This year marks Charkit’s 25th anniversary of serving many different segments of the chemical industry, including the imaging, personal care, flavor and fragrance, and pharmaceutical markets.
When asked why they chose South Norwalk, rather than other viable office locations in the area, principals of Charkit Chemical said, “We were looking for an opportunity to invest in a commercial property that not only provided an attractive investment alternative to leasing, but would also offer an energetic and vibrant environment for our employees.”
“Charkit is among the most respected names in the specialty chemical supply industry and I am particularly pleased that the company has selected South Norwalk to locate its offices,” said Norwalk Mayor Richard Moccia. “Charkit offers another example of good companies who have sought that rare combination of a high-quality working environment and a superb work force.”
George Walker, senior vice president of Stamford-based Albert B. Ashforth Inc., represented Charkit Chemical in the transaction.
“We are pleased to have had the opportunity to represent Charkit Chemical in this transaction,” said Walker, who assists companies in the area to benchmark leasing and investment opportunities.
Albert B. Ashforth Inc. is a division of The Ashforth Co. It specializes in commercial sales, leasing, corporate relocations and investment properties.
