LAZ Investments buys Hartford apartments for $3.8 million

A 42-unit Hartford apartment building located directly across from Connecticut Children’s Medical Center and Hartford Hospital recently sold for $3.8 million.

The property, at 299 Washington St., sold to LAZ Investments LLC for $90,476 per unit, according to Amodio & Co., which represented the seller in the deal. 

LAZ Investments is the family investment arm of Alan Lazowski, co-founder of national parking giant LAZ Parking, which is also based in Hartford. 

Lazowski has been a major investor in downtown Hartford commercial real estate, including multifamily, office and mixed-use buildings and projects.

The Washington Street property is on the outskirts of downtown in the city’s South Green neighborhood. It’s located near the site where LAZ Parking is building a $60 million, nine-story, 900-space parking garage to accommodate an ongoing expansion of Connecticut Children’s campus. 

The apartment complex includes 19 one-bedroom and 23 two-bedroom apartments, and on-site surface parking. 

LAZ Investments was represented in the purchase by Kevin Kenny, president of NAI Lexington Commercial.

“We are committed to working with stakeholders in the area to ensure our investments align with the needs of both the existing residents at the property and in the area as well as contributing to the future vision for the corridor,” said Brandon Best, associate director at LAZ Investments. “We recognize the importance of Hartford’s neighborhoods in addition to its critical downtown core. Our goal is to collaborate with stakeholders and ongoing initiatives to enhance vibrancy, housing quality, and connectivity within this educational and medical corridor.”

The seller of the property was Washington Heights Apartments LLC, which is controlled by Zvi Horowitz and Samuel Pollak, who list the same Montvale, New Jersey business address, state records show. 

Their limited liability company purchased the apartments in 2013 for $1.05 million, property records show.