The Kennedy Building

Meriden is located midway between New Haven (about 20 miles north) and Hartford (about 20 miles south). It is bounded by Berlin to the north, Middlefield to the east, Wallingford to the south, and Cheshire to the west. It is suburban while being in close proximity to New Haven and Hartford, which offers many city amenities, providing the best of both worlds.Northeast Private Client Group is pleased to exclusively present The Kennedy Building, a 138-unit value-add multifamily community located in Meriden, Connecticut. The Kennedy Building is a 5 and 6-story, elevatored building consisting of 135 residential units, including a mix of 44 studio apartments, 77 one-bedroom, one-bathroom apartments, 14 two-bedroom one-bathroom apartments, and three commercial suites with 129,073 square feet of gross building area set on 2.41 acres. The property was built in 1921, and since 2019 ownership has invested over $2,000,000 in capital improvements, including unit and common area upgrades, exterior/site repairs, roof, window, and parking lot replacement. The Kennedy Building provides immediate access to Interstates 691 & 91, Connecticut Routes 15 & 5, and the new Meriden Amtrak Train Station. The property is located directly on the newly redeveloped Meriden Green with walking trails and amphitheater, and is walking distance to downtown Meriden, and many local shopping and dining amenities. The Kennedy Building presents an ideal opportunity for investors looking to acquire a stable asset with significant upside potential in an outstanding location within a submarket with strong fundamentals. A new owner will have the opportunity to continue unit renovations to capture a proven premium in the market, while marking existing rents to market levels.