×

New Haven Opportunity Zone Office Building Trades for $12.2M

  • Feb 07, 2020
  • Marketplace In The News - Globe Street

The Knights of Columbus and Vision Real Estate Partners have acquired the nine-story former AT&T complex at 545 Long Wharf Drive here for $12.2 million in an online auction from seller CWCapital.

545 Long Wharf is a 245,389-square-foot class-A office building with unobstructed views of the Long Island Sound located in an opportunity zone. The building was previously AT&T’s corporate office and is currently partially leased to a number of office tenants.

Newmark Knight Frank’s executive managing directors Steven Schultz and Cory Gubner, managing director Tony Georgiev and director Alex Haendler represented the seller. The property was auctioned on RealINSIGHT Marketplace, an online platform for commercial real estate (CRE) ransactions.

The New Haven Independent reported recently that the property last sold more than a decade ago for $40 million.

A total of 15 registered bidders from across the United States and Canada, competed in the live bidding process, ultimately leading to the successful recent sale of the asset for 110% of appraised value.

Read More