Paredim Partners Acquires New Haven Community
The property was converted from The Taft Hotel into apartments back in 1978.
The Taft Apartments. Image courtesy of Paredim Partners
Paredim Partners has expanded its presence in New Haven, Conn., after acquiring a historic building in the city’s downtown that’s been converted into a 194-unit community. The company acquired The Taft Apartments from an undisclosed buyer.
The building was originally built in 1912 as The Taft Hotel and saw temporary residences from former U.S. president William Howard Taft and several Broadway stars since it was located next to the historic Shubert Theater. The hotel was later converted into multifamily apartments in 1978, but retained many of its historic interior and exterior elements. Nowadays, the 14-story community offers 194 units in studio, one- and two-bedroom floorplans that range from 424 to 1,200 square feet, with a penthouse option offering 3,638 square feet.
The community’s amenities include a recreation center, fitness center, lounge area, music practice and conference room, and laundry facilities. But, the Taft Apartments is located in a highly-walkable area so residents have nearby access to downtown New Haven’s many restaurants and retail options. Located at 265 College St., the community is also across the street from Yale University’s Old Campus and the New Haven Green, as well as roughly half a mile away from Yale New Haven Health.
UPCOMING UPGRADES TO AMENITIES
David Parisier, managing director at Paredim Partners, said in prepared remarks that the company is planning to return The Taft Apartments to its place as a premier boutique community. To achieve that, Paredim is planning to improve the aesthetics and amenity offerings of the community through targeted upgrades.
Roughly a block away, Paredim Partners also owns Cambridge Oxford Apartments, a three-building 85-unit community that’s approximately 400 feet from the front gate of Yale University’s main campus. But, the company’s portfolio includes properties across Connecticut, including in Bloomfield and Milford. Paredim Partners also previously purchased a 124-unit luxury building in Stamford, Conn., for $33 million.
