FAIRFIELD – Nearly a year after it was destroyed by a fire, Kingsway Motors used car dealership has been sold to someone who plans to demolish the building and construct an auto repair business, according to the real estate broker on the deal.
The 705 Kings Highway E. property, which was built in 1930, was shuttered following the November, 2023 fire. The new owner, 705 Kings Highway LLC, purchased the property from longtime owner Pepper Partners LLC and Shelton-based Consumers Petroleum. The purchase price was reduced to $150,000 because the property is in the state’s Transfer Act , where the buyer is the certifying party. Many years ago there was an autobody shop that had a spray booth that placed the property in the Transfer Act category, according to Bruce Wettenstein, principal of Vidal/Wettenstein, who brokered the deal for the owner. He said the property was one of four that had been in a family portfolio for many years.
No selling price was divulged. However, the 14,000-square-foot property was valued by the Town of Fairfield at $532,000 in 2023 and assessed at $372,540.
The attorney representing Pepper Partners on the sale is Matthew Susman of Cohen & Wolf in Bridgeport. The buyer’s attorney is Dana Friedman of Harlow, Adams & Friedman, PC of in Milford.
On Nov. 22, 2023, Fairfield firefighters battled an interior blaze involving multiple automobiles under repair. The fire quickly extended to a second-floor storage area and into the roof area.
The fire was under control after two hours, with one firefighter receiving minor injuries and returned to duty shortly. But the building suffered significant damage. The cause of the fire is still under investigation by the Fairfield Fire Marshal’s office.
