859-879 Congress Ave - Commercial LAND FOR SALE


New Haven, CT 06519 86,684 SF
$4,500,000 USD
203-997-0164
859-879 Congress Ave, New Haven, CT for Sale
$4,500,000 USD
Commercial LAND - FOR SALE
1/1
86,684 SF

859-879 Congress Ave
New Haven, CT 06519


HIGHLIGHTS

  • Approved 194-Unit Multifamily Development Site
  • Apartment Rents in Submarket Exceed $3/SF/Month
  • 1.99 Acres in BA Zone
  • Zoning Allows for Many Uses Including Multifamily, Retail, Medical, Office, Parking & Outdoor Storage
  • Dynamic & Growing Market
  • 0.7 Miles to Yale New Haven Hospital

OVERVIEW

Northeast Private Client Group is pleased to present the West River Approved Development, a potential 194-unit apartment complex in New Haven, Connecticut. The site consists of nine parcels of land. The West River Apartments Development has been approved for 194 units, with the current design offering a mix of seventy-two (72) studio units, eighty-eight (88) one-bedroom units, twenty-six (26) two-bedroom units, and eight (8) three-bedroom units. The approved development features plenty of amenities, including elevators, a full fitness center, an interior courtyard, an outdoor amenity deck, bicycle parking, and more. A new owner can modify the unit mix and amenities without needing new approvals. The downtown New Haven market has seen strong rent growth in recent years, and this growth is projected to continue through 2025. Located just 0.7 Miles from Yale New Haven Hospital and the Yale School of Medicine, the property is ideal for Yale graduate students, hospital employees, and professionals working downtown or commuting nearby. It is also an excellent option as an affordable housing development. All residents will benefit from the property’s proximity to the dining establishments, and entertainment amenities that the city has to offer.

FOR SALE DETAILS

PRICE

$4,500,000 USD

PRICE/ACRE

$2,261,317/AC

PRICE/SF

$52 USD /SF

# OF LOTS

-

LAND DETAILS

PROPERTY NAME

WEST RIVER APPROVED DEVELOPMENT

PROPERTY TYPE

Land

PROPERTY SUBTYPE

Commercial

LAND PROPOSED USE

-

LAND ACRES

1.99 AC

LAND SF

86,684 SF

OFFSITE IMPROVEMENTS

-

ZONING

-

APN/PARCEL ID

-

ASK ABOUT THIS PROPERTY

Edward JordanNortheast Private Client GroupMore Info
203-997-0164

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Edward JordanNortheast Private Client GroupMore Info
203-997-0164

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.