Chozick Realty Negotiates $22M Sale of Hotel, Multifamily Property in Hartford
HARTFORD, CONN. — Locally based brokerage firm Chozick Realty has negotiated the $22 million sale of a hotel and multifamily property located at 50 Morgan St. in Hartford. The 18-story building was originally constructed in 1971 as a 350-room hotel and currently houses 150 hotel rooms and 96 apartments following a recent conversion. The buyer, a partnership between Alexa Group and Shelbourne International, plan to reposition the remaining 150 hotel rooms into 164 apartments, bringing the total number of residences to 260. The new owners will also convert existing banquet space into an amenity area with a fitness center and coworking lounge and add a 380-space parking garage and a pool with a sun deck. Rick Chozick and Tom Boyle of Chozick Realty represented the seller, DW Capital, in the transaction and procured the buyer.