433 Chapel StNew Haven, CT 06511

Property Details for 433 Chapel St

Year built

1870

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.34 AC

Property size (Sq ft)

9,380 SF

Zone code

IL

Property type

Industrial properties

Property subtype

Other industrial properties

APN

NHVN M:202 B:0554 L:00500

APU

NHVNM202B0554L00500

Description

This mixed-use, six-story apartment building at 433 Chapel St, New Haven, CT, presents a compelling redevelopment opportunity. The 32,953 square foot property, built in 1870, sits on a 0.59-acre lot and is zoned IL. Current approvals are in place for a 25-unit multifamily development with one retail space, but further density is possible due to existing zoning. The property includes three parcels (433 Chapel St, 56 Wallace St, and 64 Wallace St). A 2019 variance approval facilitates multi-family development, and the building's historical registration allows for the utilization of historic tax credits. Its location within an Opportunity Zone provides additional financial incentives. This fee-simple ownership offers significant potential for investors seeking a value-add project in a vibrant New Haven neighborhood, close to Wooster Square and Long Wharf, with easy access to the downtown area. The property's historical significance and strategic location combine to create a unique and lucrative investment prospect.

• Alternative Use

  Use

  Valuation

  Residential

  $1,775,063

  Hospitality

  $1,625,948

  Educational

  $1,352,770

  Medical

  $1,399,294

  Retail

  $2,104,308

Location Insight

City

New Haven

County

New Haven

State

Connecticut

Latitude

41.3039

Longitude

-72.9121

CBSA code

35300

CBSA name

NEW HAVEN-MILFORD, CT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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