Mandy Sells 9, Buys 2, De-Signs 3 Homes

By Thomas Breen, New Haven Independent

NEW HAVEN, CT — Mandy Management affiliates have sold nine different rental properties containing 27 apartments for more than $4 million so far this month — at prices that add up to roughly $1.9 million above what they initially paid to buy these same buildings.

Also this month, Mandy affiliates have acquired two adjacent East Rock rental properties containing 12 different apartments for a total of $2.45 million.

And independent of all this buying and selling, Mandy affiliates have taken down three sets of company signs from apartment buildings in Fair Haven and Wooster Square to comply with city historic-district rules.

Such is the latest with one of the city’s largest private landlords. The real estate deals mark a continued shift over the past two years in which Mandy Management — a Whalley Avenue-based property management company-real estate investor-megalandlord — has sold more local rental properties than it’s bought. These deals also show just how much more money the company has been able to sell these properties for in comparison to the prices at which they bought them.

“Mandy Management continually evaluates opportunities to strengthen and optimize our multifamily portfolio in neighborhoods where we have long-term commitments,” Mandy CEO Yudi Gurevitch told the Independent about why his company purchased two adjacent Bishop Street properties. “Their addition represents routine portfolio growth and our continued confidence in this area of New Haven.”

In regards to the company’s recent property sales, Gurevitch said, “we regularly review our holdings to ensure they match our long-term investment and management priorities.” The properties that Mandy wound up selling “were deemed non-core with our current strategy. Reallocating capital from properties such as these enables us to reinvest in areas where we see stronger alignment with our operational goals. These transactions are part of normal portfolio management and capital recycling.”

According to the city lands record database, Mandy affiliates have sold the following properties so far in November:

• The two-family house at 126 Rosette St., sold on Nov. 3 by Mandy’s company SFR 2 DE LLC to Wail Jaser of West Haven for $410,000. That same property last sold for $210,000 in 2021, and the city last appraised it for tax purposes as worth $179,000.
• The three-family house at 186 Farren Ave., sold on Nov. 4 by Mandy’s company Ref II SFR 1 DE LLC to Aldwayne Smikle of New Haven for $420,000. That same property last sold in 2021 as part of a four-building, $655,000 deal. The city last appraised 186 Farren for tax purposes as worth $247,700.
• The two-family house at 152 Lamberton St., sold on Nov. 6 by SFR 2 DE LLC to a company controlled by Dina Landau of Suffern, N.Y. for $345,000. That property last sold for $235,000 in 2021, and the city last appraised it for tax purposes as worth $217,400.
• The three-family house at 19 Bassett St., sold on Nov. 7 by Mandy’s company ABCD Investments DE LLC to a company controlled by David Goldberger of Brooklyn, N.Y. for $415,000. That property last sold for $255,000 in 2021, and the city last appraised it for tax purposes as worth $236,500.
• The three-family house at 141 Wolcott St., sold on Nov. 12 by SFR 2 DE LLC to Blandina Violeta Perez Diaz MS and Nayelia Roblero-Perez of New Haven for $449,900. That property last sold for $190,000 in 2021, and the city last appraised it for tax purposes as worth $266,500.
• The three-family house at 971 Sherman Ave., sold on Nov. 13 by Mandy’s company Netz Bonds New Haven V Add DE LLC to a company controlled by Wolf Rosenbaum and Hersh Brandwein of Brooklyn, N.Y. for $437,000. That property last sold for $105,000 in 2012, and the city last appraised it for tax purposes as worth $258,400.
• The three-family house at 256 Davenport Ave., sold on Nov. 14 by ABCD Investments DE LLC to Mauricio Moncayo of Stamford for $415,000. That property last sold for $280,000 in 2021, and the city last appraised it for tax purposes as worth $226,100.
• The six-unit apartment house at 12 Lilac St., sold on Nov. 14 by SFR 2 DE LLC to Jose Edwar Jeri Pillco of Mt. Vernon, N.Y. for $800,000. That property last sold for $550,000 in 2021, and the city last appraised it for tax purposes as worth $370,300.
• The two-family house at 115 Lloyd St., sold on Nov. 20 by SFR 2 DE LLC to George Ireland of Bridgeport for $389,900. That property last sold for $162,500 in 2021, and the city last appraised it for tax purposes as worth $240,600.

City land records also show that Mandy affiliates have purchased the following two properties so far in November:

• The six-unit apartment house at 116 Bishop St., bought on Nov. 5 by Mandy’s company BVI Apartments LLC from a company controlled by Maria Prota of New Haven for $1.4 million. The city last appraised that property for tax purposes as worth $855,700.
• The six-unit apartment house at 120 Bishop St., bought on Nov. 5 by BVI Apartments LLC from a company controlled by Lorraine Esposito of Wallingford for $1,050,000. The city last appraised that property for tax purposes as worth $654,000.

Phew! That’s a lot of addresses.

A few more.

The Independent reported in August about how the Elicker administration had sent cease-and-desist letters to Mandy Management for putting up company signs on three apartment buildings in violation of historic district rules in Fair Haven and Wooster Square. Those buildings included the eight-unit, mixed-use building at 1 Grand Ave., the nine-unit apartment building at 32 Clinton Ave., and the seven-unit apartment building at 533 Chapel St.

This reporter recently observed that the Mandy signs on these three properties have since been taken down.

“Regarding the removal of signs in several New Haven historic districts, our intention is always to follow local guidelines, work constructively with city departments, and ensure our properties remain in fulla compliance with applicable regulations,” Gurevitch told the Independent. “We removed the signage at the referenced properties in accordance with the city’s directive and will continue to ensure that our buildings meet all applicable requirements.”

The New Haven Independent is a not-for-profit public-interest daily news site founded in 2005.