Hartford, CT — New York landlord-developer Shelbourne Global Solutions LLC has acquired a long-vacant triangular-shaped building and adjacent lot just north of downtown Hartford for $400,000.
Land records show that Shelbourne, one of downtown’s most active landlords, spent $300,000 to acquire the so-called “Flatiron” building at 529-543 Ann Uccello St. and $100,000 for the lot at 525 Ann Uccello.
Shelbourne bought the two properties from two LLCs controlled by Michael and Sheila Reiner on Jan. 27. Michael Reiner is an attorney for Farmington's Greene Law P.C.
In a statement Thursday, Ben Schlossberg, managing member of Shelbourne, said his group plans to redevelop the three-story, brick edifice into new housing space, and called the purchase “an important component of our long-term plans to organically invest in the Capital City.”
Shelbourne’s business plan is to acquire and revitalize properties in Hartford’s central business district in order to rejuvenate and better connect downtown to the surrounding neighborhoods,” Schlossberg said.
The purchase is part of Shelbourne’s previously announced strategy to acquire 10 additional downtown properties in 2020.
Shelbourne made its aggressive buying strategy known last month after it spent more than $3.1 million in late December to buy a 43,300-square-foot Class B office building at the corner of Main and Charter Oak streets.
The realty investor/developer/landlord has steadily added to its footprint in the city since 2014, buying some of downtown’s most prized Class A office towers such as 20 Church St. (The Stilts Building), One Financial Plaza (The Gold Building) and 100 Pearl.
Shelbourne has also partnered with Hartford developer Lexington Partners LLC and LAZ Parking in proposing a $100 million vision to redevelop the Pratt Street corridor.
Built in 1896 by architect Frederick Comstock, the Flatiron building is situated at the triangular junction where Ann Uccello and High streets meet, and is near empty surface parking lots where Stamford developer Randy Salvatore plans to break ground this spring on the mixed-use Downtown North (DoNo) development.