500 Howe Avenue, Shelton, CT

October 2020 – Jeremiah A. Houlihan of Houlihan-Parnes Properties has arranged the sale of the “Pierpont Commons”, a 4-story landmark brick building located at 500 Howe Ave in downtown Shelton, Connecticut.  Originally built in 1893, the building was named after J.P. Morgan, one of the first developers of downtown Shelton.  The property is situated at the southeast corner of White Street and Howe Ave (State Route 110), the building sits on a 0.35-acre lot with each floor containing over 5,000 square feet.  The interior still retained its original exposed brick walls while exterior retained its aesthetically pleasing arch windows.  The building was completely gut-renovated in 1984.  The 1st floor has 100 feet of retail frontage with the well-known “Amici’s” Restaurant & 2 smaller stores; the 2nd floor is exclusively office space & the 3rd & 4th floors contain 14 apartments.  The 4th floor’s apartments have high ceilings and lofts.

Downtown Shelton’s resurgence is underway with construction of 400-plus residential units, retail & office development to add to the many projects that have completed.  There are approximately 200 residential units plus 20,000 square feet of commercial space being developed within a 200-foot radius of Pierpont Commons.  Shelton has become an affordable destination for Fairfield County residents as cities like Stamford & Norwalk become more expensive.

The property was sold to a real estate holding company based in Ansonia, CT for a sales price of $2,850,000. The Seller was represented by Cohen & Thomas, Attorneys at Law in Derby, CT.