Farmington Buys Mark Twain Apartments for $3.25M
- Jan 29, 2008
By Anuradha Kher, Online News EditorHartford, Conn.–Farmington Apartments LLC has bought the Mark Twain Apartments in Hartford, Conn. for $3.25 million. The Mark Twain Apartments, previously owned by MT Associates LLC, contain 65 apartment units located adjacent to the historic Mark Twain House and Museum.Mark Twain and his family moved to Hartford in 1871. While they first rented a house in the city, in 1873, Twain hired New York City architect Edward Tuckerman Potter to design his house, where he and his family lived until 1891.This site, which once encompassed the grounds of Mark Twain’s estate, was developed in 1931. This four-building complex (pictured) offers large apartments characteristic of their time of construction. There are nine studios, 22 one-bedrooms, 28 one-bedrooms with dining rooms and six two-bedrooms with dining room apartments.The property is located in the West End neighborhood of Hartford, within walking distance of insurance companies, the central business district and numerous restaurants and entertainment. “This combined, with its more than ample on-site parking, has kept the property at or close to 100 percent occupancy on a consistent basis,” says Steve Pappas, a broker with Chozick Realty.While the property has been updated in recent years, the new owner plans additional property improvements to include common area and unit upgrades, which will support upside to the income potential of the property.Pappas and Rick Chozick of Chozick Realty were the sole brokers in this transaction. Chozick Realty Inc. is a full-service brokerage company with offices in Hartford and Del Ray Beach, Fla.