The Hakimian Organization Acquires Multifamily Property In New Haven For $4.85M

The Hakimian Organization, led by Rex Hakimian, Shawn Hakimian, Jason Hakimian, and Kevin Gorjian of Gorjian NY, has acquired a multifamily property located at 19 Elm Street in New Haven, CT. The property was sold by Mod Equities, with the assistance of broker Bradley Balletto from Northeast Private Client Group.

Summary of transation details

• Property Type: Multifamily
• Transaction Amount: $4,850,000
• Units: 96
• Price Per Unit: $50,520
• Square Footage: 23,849
• Price Per Square Foot: $203
• Market: New Haven, CT

As part of their expansion plans across the East Coast, The Hakimian Organization targeted Southern CT, as it offers a natural expansion beyond their base in New York. The area also exhibits a strong demand for quality rental housing. The 19 Elm Street property provides an ideal canvas for the organization to create beautifully designed and well-laid-out rental units. Additionally, the building benefits from excellent transportation access, abundant amenities, and great views.