DANBURY — Chestnut Street Townhomes, one of many off-campus apartment complexes for Western Connecticut State University, was sold recently for $8.48 million to 62 Chestnut St. Holdings LLC.
The 15-year-old, 144-bed complex located at 62 Chestnut St. consists of six buildings and 36 townhome units – 32 two-bedroom with double garages and 4 three-bedrooms without garages. Each unit has occupancy for four beds and comes furnished with a living room set, twin-bed frames, and dressers.
According to city property records, Chestnut Street Townhomes was sold by Acorn II LLC to Chestnut St. Holdings LLC on April 30. The asking price was nearly $11 million. It was appraised at $8.72 million.
The apartments serve as off-campus for the university, which is 0.4 miles away. Current rents are $774 per bed with some being offered for $850 per bed.
“(Since) the apartments at Chestnut are privately held, we don’t have an official relationship with the owners and don’t supervise the students who choose to live there,” said Paul Steinmetz, a university spokesman. “WestConn students have many choices about living situations when they enroll here, including with parents and on campus.”
Regional brokerage firm Northeast Private Client Group represented Acorn II LLC, a state-based developer that was formed in 2010. Jeff Wright and Rich Edwards were the sales representatives on the deal.
Other apartment complexes serving WestConn students include 1 Kennedy Flats, Abbey Lane and Brookview Commons-West.
