Rhys Arranges Sale of Mixed-Use Portfolio in New Canaan, Conn.
NEW CANAAN, CONN. — Rhys has arranged the sale of a portfolio in downtown New Canaan including a mixed-use building and two residential properties slated for future development. Ivanhoe Collective purchased 19 Vitti St., a 4,700-square-foot mixed-use building for $2.6 million. The new owner plans to open a business called The Cultivated Collector, a showroom catering to those who own or want to own classic cars. The two-story Vitti Street building features an on-site parking garage. It was previously occupied by Young Life, a Christian charity that is moving to Stamford, Conn. HB Nitkin Group is the buyer of two residential properties adjacent to 19 Vitti St. The company purchased 60 and 64 E. Ave. for $1.5 million. The property at 60 E. Ave. is a 1,400-square-foot single-family rental home built in 1900. The house at 64 E. Ave. is 2,020-square-foot rental home built in 1876. The long-term goal of the new owners is to work with the town to redevelop the sites into a mixed-use project.