Frank D’Ostilio, partner of Real Living Wareck D’Ostilio was presented with a CID award for “Largest Mixed-Use Deal of the Year 2019”. The property was located at 490 Prospect Street in New Haven and was sold to Albertus Magnus University to be used as additional dorms. This institutional property of combined office and residential use, adjacent to Yale University consists of 3 buildings on 1.38 acres which include 24 dwelling units, office space, meeting and guest rooms.
A spokeswoman said that, with the purchase, housing immediately will be available for 27 residents. Additionally, the facility will provide additional classrooms and office space for faculty and staff.
The property was listed at $5,650,000 and closed at $5,000,000
Pictured left to right: Jeremy Rosner, Frank D’Ostilio, and Ted Schaeffer, CID chair.