32 Ferry Street

New Haven is a city located in the southwestern part of Connecticut in the northeastern United States. It lies along the northern coast of Long Island Sound, an inlet of the Atlantic Ocean, which gives the city direct access to coastal waters. This waterfront location has influenced New Haven’s development since colonial times, supporting shipping, fishing, and trade. The presence of the harbor also shaped the city’s layout and economy, making it an important coastal community in the region. Geographically, New Haven is positioned about 80 miles northeast of New York City and approximately 35 miles southwest of Hartford, the state capital. Because of this central location, the city serves as a key link between major urban centers in the Northeast. Rail lines such as Metro-North and Amtrak, as well as major highways like Interstate 95 and Route 34, pass through or near New Haven, making travel and commerce convenient. This accessibility has contributed to the city’s growth and importance over time. New Haven is surrounded by several neighboring towns, including Hamden to the north, East Haven to the east, West Haven to the west, and Orange to the northwest. The city’s geography is diverse, featuring coastal marshes, sandy beaches, and a natural harbor along the shoreline. Inland areas rise into hills and ridges, including East Rock and West Rock, which are prominent natural landmarks that overlook the city and provide scenic views of the surrounding area. The location of New Haven has also made it a center for education, culture, and innovation. Yale University, located in the heart of the city, benefits from New Haven’s proximity to major cities, transportation networks, and coastal resources. The combination of coastal access, nearby urban centers, and varied natural features has shaped New Haven into a city with regional influence and lasting historical significance.32 Ferry Street presents a highly income-diverse investment featuring ten rooms (SROs), two 1-Bedroom apartments, and a laundromat. The property is stabilized cash-flowing asset with potential for further NOI growth through unit renovations. The property is located in an established, neighborhood-oriented area of New Haven that supports workforce housing and essential retail demand. The property offers convenient access to industrial job centers, institutional employers, downtown New Haven, and neighborhood amenities, reinforcing consistent demand for affordable rental options. Transit access, walkability to small businesses and service providers, and connectivity to arterial routes contribute to a stable renter pool. New Haven remains one of the most competitive rental markets in the nation. With constrained supply and increasing demand, rents have steadily risen, and vacancy remains low.