nothin Latest Deals: Beulah’s 5th Rehab On Block | New Haven Independent

Latest Deals: Beulah’s 5th Rehab On Block

Thomas Breen photo

722 Orchard St.

A faith-based nonprofit developer sold a rehabbed Orchard Street home to a low-income buyer, marking its fifth gut rehab and affordable housing conversion completed on a single block between Charles Street and Henry Street.

Beulah Land Development Corporation, the nonprofit development wing of the Beulah Heights Pentecostal Church at 782 Orchard St., sold the single-family home at 722 Orchard St. to Douglas Gottlieb for $160,000 on Oct. 22.

That sale was one of 33 property transaction records uploaded to the city’s land record database between Oct. 19 and Oct. 25.

The Orchard Street property sale was the latest completed effort in the 24-year-old nonprofit development companys pursuit to rehab derelict properties in the Dixwell neighborhood and convert them into affordable homeownership opportunities for low-and-moderate-income buyers, said Latania Guiont, Beulah’s office manager.

We’re not building houses,” she said. We’re building a whole community.”

Since 2011, Beulah has rehabbed and sold to first-time homebuyers single-family homes at 693 Orchard, 697 Orchard, 709 Orchard, 718 Orchard, and now 722 Orchard, all of which are located between Charles Street and Henry Street and all of which sold for $160,000 or less.

Beulah is planning to start and finish construction of a new two-family home at 684 Orchard St. in early 2019. The company has already begun its gut rehab of a single-family home at 335 Orchard St.

At 722 Orchard, she said, Beulah took a home that had been ravaged by a fire under the previous owner and added new sheet rock, flooring, a furnace, frame, everything but the foundation.

As with many of its other Orchard Street projects, Beulah sold the finished 722 Orchard to a homebuyer whose gross income is 80 percent or less of the Area Median Income (AMI), or $70,480 out of an $88,100 benchmark for a family of four. Per the condition of the sale, the new owner also has to live in the six-bedroom, three-floor rehabbed property as his primary residence.

According to city land records, Beulah received a $489,875 loan in Aug. 2017 from the city anti-blight Livable City Initiative’s (LCI) HOME Investment Partnerships Program to help cover acquisition, construction, and rehabilitation costs for the rehab project at 722 Orchard and for the new construction project at 684 Orchard. That city issued that loan on the conditions that the new owner live at the property and that he or she make no more than 80 percent of the AMI.

In the Aug. 9, 2017 Developer’s Homebuyer Agreement between the city and Beulah, Beulah Chief Operating Officer (COO) Darrel Brooks described the company’s planned rehabilitation of the two sites as part of the non-profit’s Orchard Street Redevelopment Initiative.”

Beulah’s COO Darrel Brooks at a recent BZA meeting.

The Orchard St. Redevelopment Project will reduce the number of vacant blighted properties within the Dixwell neighborhood and serve as a catalyst for further investment,” Brooks wrote in a project narrative appended to the end of the agreement. The project will also address the problem of poverty by helping low to moderate income families build wealth through homeownership, giving them the ability to invest in the community in which they live and the future of their families.”

Land records show that LCI also granted Beulah a $9,000 loan in Aug. 2017 from its Lead Based Paint Hazard Reduction Program fund to help cover the abatement of any lead paint hazards at 722 Orchard property.

On Oct. 3, 2018, the city released Beulah from the $9,000 lead-abatement loan. The city also partially released and discharged from Beulah the $489,875 HOME loan, as it related to 722 Orchard St..

The city last appraised the 722 Orchard property at $47,300 in 2017. Beulah purchased the property for $40,478 in 2016.

684 Orchard St.

In September 2018, Beulah received variances from the Board of Zoning Appeals (BZA) to build a new two-family home at 684 Orchard and to rehab an existing two-family home at 335 Munson.

In 2014, the church’s nonprofit development wing also transformed former crack houses further up the block into stable homes, and has its eyes on building 70 new mostly lower-income apartments on the long-vacant Joe Grate’s automotive and ribs business lot at 340 Dixwell Ave.

Mandy Picks Up 4 More Properties

390-392 Ellsworth Ave.

In other property transactions, a major local landlord recently picked up four more residential properties in four different neighborhoods, as reflected in the city’s latest recorded land sales.

The local mega-landlord Mandy Management acquired four properties in the Annex, Beaver Hills, Fair Haven, and Westville.

I can confirm that we have indeed purchased those properties,” Mandy property manager Yudi Gurevitch said. Mandy management is a company that strives to offer affordable, clean and comfortable housing for the people of the Greater New Haven area. We have been in operation for over 15 years, and putting our customers first has always been our top priority.”

On Aug. 30, Valley Investments LLC, a holding company owned by Mushka Levitin, bought the three-family home at 390 – 392 Ellsworth Ave. from Frank Bonito, the conservator of the estate of Priscilla Zwirlein.

The LLC paid $190,250 for the two-and-a-half-story property. The city appraised the Ellsworth Avenue home at $216,000 in 2017, and the property last sold for $1 in 1965.

On Sept. 12, Levitin then deeded the Beaver Hills home to Netz Bonds New Haven VIII LLC, a holding company owned by Mandy Management’s Menachem Gurevitch, for $1.

179 Blake St.

In Westville, Menahem Edelkopf purchased the single-family home at 179 Blake St. from the Bank of New York Mellon on Oct. 5 for $126,000. Edelkopf then deeded that property to Mandy Management’s Gur New Haven II LLC holding company for $1 on Oct. 22.

114 Blatchley Ave.

In Fair Haven, Mandy’s Netz Bonds New Haven VIII LLC holding company purchased the colonial, single-family home at 114 Blatchley Ave. from Jose Dadario and Lusiano Dadario’s 114 Blatchley Avenue LLC holding company for $95,000 on Oct. 16. The city last appraised the property at $104,300, and the property last sold for $35,100 in 2013.

23 Farren Ave.

And in the Annex, Mandy’s Netz Bonds New Haven X LLC holding company bought the single-story condominium at 23 Farren Ave., Unit C4 from Vinod Patel for $45,000 on Oct. 16. The city last appraised the condo at $23,700, and the condo last sold for $25,000 in 1995.

29 Hervey St.

In the East Shore, William Szostek purchased the single-family ranch house at 29 Hervey St. from Richard Pellegrino for $215,000 on Oct. 11. The city last appraised the property at $187,900, and the property last sold for $42,200 in 1993.

129 Huntington Rd.

Also in the East Shore, Blanca and Anitz Vazquez purchased the single-family ranch house at 129 Huntington Rd. from Joann Holman for $230,000 on Oct. 16. The city last appraised the property at $182,400, and the property last sold for $59,000 in 1997.

78 William St.

In Wooster Square, Diane D’Amato purchased the two-family home at 78 William St. from James and Peyton McElroy for $296,000 on Oct. 25. The city last appraised the two-story property at $284,300, and the property last sold for $140,000 in 2003.

In Morris Cove, the Idaho Housing and Finance Association purchased the colonial, single-family home at 46 Morris Ave. for $180,186 from Cornelius Ivers at a foreclosure sale on Apr. 11. The city last appraised the property at $172,500, and the property last sold for $178,000 in 2016.

And in City Point, Camille Simcoff purchased the colonial, single-family home at 297 Greenwich Ave. from the federal Department of Housing and Urban Development (HUD) for $60,165 on Oct. 16. The city last appraised the property at $90,400, and the property last sold for $117,000 in 2004.

Previous property sale coverage:

Latest Sales: NHR Sheds Small To Focus Big
Latest Sales: Mandy Buys In Heights
Home Sale Price Doubles In 13 Years

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