A family of Long Island investors continued a string of downtown Waterbury commercial real estate purchases in September, buying two long-vacant office buildings for conversion into apartments.
“We really like the center area of Waterbury,” said John “Gianni” Mariolis, a representative of the buyers. “We just see it as a really good investment.”
A 36,578-square-foot retail and office plaza on 7.9 acres close to Route 8 in Thomaston recently sold for $5.6 million.
The building at 76 Watertown Road was close to fully leased when it was listed, with tenants including Hartford Hospital, Bentley Systems, H&R Block and 13 others.
DLM Services LLC which bought the property for $985,000 in 2010 sold to a collection of business entities in a deal recorded by the town Aug. 15.
The buyers include two limited liability companies controlled separately by Waterbury-based investors Jason Katz and Mayer Behrend.
A Long Island-based family of investors recently paid $300,000 for the former Webster Bank executive offices in the heart of downtown Waterbury less than half the original asking price for the 111-year-old office building.
The sale of the 15,984-square-foot property at 132 Grand St. in July is the second bargain purchase in downtown Waterbury in eight months for the Mariolis family. Two additional downtown Waterbury purchases are imminent for a family that expects to get in on the ground floor of the Brass City’s central business district.