Commercial Building Sells for $2.35M in Norwalk

0:00It's April 7th. This is Hartford News today, driven by AI. A one-story commercial building at $594 main avenue in Norwalk just sold for $2,350,000. The buyer, $594 main AV LLC, controlled by Adafio Cephy, closed the deal back in March according to city property records. The sellers were Relo Realty LLC, run by James Vecchierello from Danbury and his brother Andrew from Rye, New York. They originally snagged the property way back in 1997. That was for just $520,000, so we're talking a huge payoff after holding it for over 25 years. Folks in real estate are eyeing these flips as signs of steady value growth in the area. The spot sits on a 0.48 acre lot built in 1967 with an appraisal value of $2,900,000. And an assessment of $2,030,000. No quick response yet from the new owners on their plans.

1:00Deals like this keep the local market buzzing. Proving commercial properties here are still prime investments.