New Canaan, Conn. (May 8, 2019) – William Pitt Sotheby’s International Realty announced today that the firm has listed two adjoining buildings in the heart of New Canaan at 107 Main Street and 17 Elm Street, offered at $2,875,000 and $1,500,000, respectively, or together for $4,375,000. New Canaan brokerage agents Jack Trifero and Betsy Wilson have the listings.
The commercial properties represent a rare offering and opportunity in New Canaan, according to the agents. They said that similar buildings in the town, many of which are held by the same family for generations, are often sold without becoming available publicly for sale. 107 Main Street and 17 Elm Street, too, have been owned by the same family for multiple generations.
“In a community where we tend to see generational legacies associated with building and business ownership, this offering is a rare chance for someone to create a generational legacy of their own,” said Trifero and Wilson. “These two signature buildings serve as an exciting investment, and an opportunity to own a part of New Canaan’s vital downtown commercial district.”
Both properties come to the market with existing tenants in place. The Main Street building is fully occupied, with the home décor boutique WAVE operating on the first floor, and the women’s clothing store Caren Forbes on the second. The Elm Street building has a signed lease for its first floor with the chef and owner of the popular New Canaan restaurant South End, who is expected to open a new restaurant in the space. The second floor is vacant, and could either be made available to a new business or utilized by the purchaser for any other purpose.
The buildings are designed in a style derived from the spirit of mid-century modern architecture, and face a block where the famous architect Philip Johnson worked, according to Trifero, an expert on modern architecture in New Canaan. Trifero runs a modern house tour business in town through his website modernhouseman.com, attracting architecture enthusiasts worldwide to tour and learn about important homes throughout New Canaan.
107 Main Street totals 3,274 square feet while 17 Elm Street has 1,980 square feet in addition to a usable basement and a sunny flagstone patio of nearly 400 square feet of seating. Trifero and Wilson said there is a potential to combine the two buildings.
About William Pitt-Julia B. Fee Sotheby’s International Realty
Founded in 1949, William Pitt-Julia B. Fee Sotheby’s International Realty manages a $4.2-billion portfolio with more than 1,000 sales associates in 27 brokerages spanning Connecticut, Massachusetts, and Westchester County, New York. William Pitt-Julia B. Fee Sotheby’s International Realty is one of the largest Sotheby’s International Realty(R) affiliates globally and the 34th-largest real estate company by sales volume in the United States. For more information, visit the website at williampitt.com.
Sotheby’s International Realty’s worldwide network includes 990 offices throughout 72 countries and territories on six continents.
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