30 CONNECTICUT AVENUE, NORWICH - SOLD FOR $530,000

Apr, 2007

HOWARD AND WHITE OF U.S. PROPERTIES, INC. SELL COMMERCIAL BUILDING FOR $530,000

NORWICH, CT - Susan Howard and Jim White of U.S. Properties, Inc. sold the Richard Sharpe's building located at 30 Connecticut Avenue in Norwich for $530,000. The former architect and historic-preservation advocate closed his architectural office in the property last summer.

Built in 1968 on 7.16 acres, the building comprises a 4,000 s/f office building on a slab. Richard Sharpe designed this property and it was a favorite office building.

The buyer, Norwich VFW, was represented by Ken Bondi of Bondi Commercial. this sale put an end to the VFW's search for a new building to replace its Greeneville facility it sold in March 2005. Members of the Veterans of Foreign Wars Post 594 voted to approve going forward with this purchase after the Norwich Community Development Corporation Board of Directors voted against the VFW's proposal. The VFW's relocation co-chairman said their members were initially unsure about how much power the Board had over the zoning process. It turned out that the NCDC only makes a recommendation. They have no actual power to prevent the organization from pursuing a variance.

The seller was represented in this transaction by Attorney Stanley Maxim Lucas of Norwich. Attorney Richard I Rothstein, also of Norwich, represented the buyer.

Financing for the buyer was provided by Eastern Savings Bank of Norwich arranged by Jane Moriarty. Attorney Jeffrey R. Godley, of Brown Jacobson PC of Norwich, provided legal counsel for the bank.

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