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Exchange Place In New Haven Sold For $6.4M

The Exchange Place commercial property in New Haven has been sold for $6.4 million to New England Investment Partners of Chelsea, Massachusetts.

Built in 1832, the 40,000-square-foot Greek Revival building at 123-127 Church St. was renovated in 2003. The seller, 123-127 Church Street Assoc. LLC, acquired the property in 2013 and has leased office space to Square 9 Softworks and ground-floor retail space to CVS. The property is 100 percent leased.

The sales price equates to $160 per square foot with a capitalization rate of 6.9 percent.

Northeast Private Client Group’s Managing Director Edward Jordan and Regional Manager Bradley Balletto represented the seller and procured the buyer.