Farrel Buildings In Ansonia Sold, Price Not Disclosed

Update, Tuesday, 10:30 a.m.: Vance Taylor, of the Torrington-based Commercial Real Estate Group, said a press event formally announcing the sale could be scheduled for Thursday or Friday.

Taylor represented the buyer in the transaction. He deferred answering questions until later this week.

Original story from Monday follows:
The Farrel properties on both sides of Ansonia’s Main Street have been sold for an undisclosed sum, a commercial real estate broker announced Sunday.

The buildings total 398,107 square feet and comprise almost nine acres of downtown Ansonia.

The new owner is Washington Management, LLC. According to state records, the limited liability company was formed in 2009. Moustapha Diakhat, a Hamden resident, is listed as the company’s principal.

A message seeking comment was left with the company Monday.

This is the view of the East Main Street parcel:

farrel2

The buildings were owned by the Farrel Corp. for more than 150 years and are considered key properties for future downtown revitalization in Ansonia.

There is no immediate word on future plans for the buildings.

One complex is between East Main Street and Main Street totaling 227,000 square feet of former mill buildings and office space. The buildings are on 2 acres and a 1 acre parking lot.

Then, across the street off Main and West Main Streets, there is 171,107 square feet of space, which includes warehouses and manufacturing space on 6 acres.

The seller was Ansonia Real Estate Holdings, LLC, an investment group made up of former executives of and investors in Farrel Corporation.

Ansonia Real Estate Holdings were represented in the sale by Alan M. Fischer, of Fischer Real Estate in Orange.

This is a view of the West Main Street parcel:

farrel1

Vance Taylor, of Torrington-based Commercial Real Estate Group, represented the buyer.

“Although this property had received constant inquiries since it first became available, the untimely downturn in the economy for so long kept many would-be purchasers on the sidelines,” Fischer said in a prepared statement.

According to a statement in a press release attributed to Taylor, “Washington Management is an experienced property owner that saw this acquisition as a wonderful opportunity. They are investigating various options for renovation and re-positioning the properties.”

State records list the principals of Ansonia Real Estate Holdings as Alberto Shaio and James L. Burns.

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