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Block-Sized New Haven Opportunity Zone Industrial Property Sold for $640K

March 8, 2019 | Reprints | Unlock Link | Print

Photo courtesy of O,R&L Commercial LLC.

A New Haven industrial property in one of the city’s opportunity zones has been sold to a firm planning extensive renovations to the property.

The 48,971-square-foot manufacturing/warehouse building on 2.71 acres at 166 Chapel St. was sold for $640,000.

The buyer, ART CT 770 Land LLC, is a holding company controlled by Brooklyn-based frame manufacturer Art to Frames CEO Schneur Minsky. Minsky plans “extensive” renovations over the next several months and plans to lease the facility to a manufacturing company that plans to employ 100 people at the site, according to O,R&L Commercial LLC. The New Haven Independent reports Minsky plans to establish production facilities for his company in the factory.

Frank Hird of O,R&L Commercial represented both the buyer and the seller, Von Roll USA Inc., in the sale.