Jasko sells two historic mixed-use buildings in downtown New Britain
January 19th, 2019
Historic buildings were crucial to downtown revitalization
[New Britain, Connecticut] Jasko Development announces that it has sold two of it’s iconic preservation project properties in downtown New Britain. Jasko specializes in the acquisition and rehabilitation of neglected, historically significant properties that show promise as mixed use holdings. Jasko’s successful rehabilitation of each of these downtown buildings from derelict shells into thriving, fully occupied mixed-use buildings has helped to energize the revitalization of downtown New Britain.
The two historic buildings involved in the sale:
· The 18,000 SF Rao Building, located at 160 Main Street was built in 1900 and was purchased by Jasko Development in 2008. The complete restoration created fourteen one, two, and three bedroom apartments and ground-floor retail space.
· The 29,000 SF Raphael Building at 99 West Main Street was built in 1925 and was purchased by Jasko in 2011. The conversion of eight ground floor retail spaces was completed in 2012 .A phase two consisting of sixteen luxury apartments commenced in 2016 and was completed 2017.
Jasko has the knowledge and experience to successfully complete a wide range of projects. Trailblazers in the development of historic, multifamily, commercial, mixed-use properties, as well as turn-key healthcare facilities and build-to-suit medical, dental and retail projects.
“We are a privately-owned, vertically integrated real estate company focused on developing, owning and managing a diverse portfolio of properties throughout the Northeast. As a value-driven company, we work diligently to increase the net operating income and sustainability of our projects, making us an optimal partner”. Says Avner Krohn, Chairman and CEO of Jasko Development.
For information on Jasko Development and their Build-To-Suit program, contact Avner Krohn, President of Jasko Development, LLC by visiting www.jaskogroup.com/contact-us. Follow Jasko Development, LLC on Facebook.