The former B. Lipnick Plumbing Supply property and an adjacent 8-unit apartment property at 2016-2022 Main St. in Bridgeport have been sold for an undisclosed amount.
The buyer, which was also not specified, is an investment group that owns and manages over 200 apartments in the greater Bridgeport area. The buyer has not determined what the future use of the retail and warehouse portion of the property will be.
Lipnick had been a part of the Bridgeport landscape since 1917, and at the Main Street location since 1943. The owners – Sharon Krasner and Jacquie Garelick, granddaughters of the firm’s founder – retired earlier this year.
“There wasn’t a plumber or contractor in the greater Bridgeport area that hadn’t visited the store for parts and material,” said Vidal/Wettenstein Partner Bruce Wettenstein, who was the listing broker and represented the buyer. “Lipnick had a fantastic reputation in its heyday and over time, with the advent of the big box retailers and e-commerce, it slowly began to erode at the company’s business. Eventually when the owners decided to retire, the decision was made to close its doors.”
Attorney Mark Clarke of Fairfield represented the seller and attorney Ben Potok of New Britain represented the buyer.