Paredim Partners LLC, an owner/operator of multifamily properties in the Northeastern United States, has acquired The Taft Apartments, a landmark apartment and commercial property located in the heart of New Haven, Connecticut.
Situated across from Yale University’s Old Campus and the historic New Haven Green, this landmark 14-story building contains 194 studio, one and two-bedroom homes with commanding views of the city. The property also features several restaurant and nightlife venues.
“We are very pleased to add The Taft to Paredim’s fantastic portfolio of New Haven apartment communities and were attracted by the outstanding Yale centric location in the middle of New Haven’s most vibrant 24/7 neighborhood,” said David Parisier, managing director of Paredim. “We plan to return this special property to its position as the premier boutique residential property in the area and to enhance its aesthetics and amenity offerings via targeted upgrades.”
Originally built as the iconic Taft Hotel in 1912, the property was converted to multifamily apartments in 1978 and retains many of its unique original historic exterior and interior features. It offers residents a number of flexible floor plans and layouts, each with abundant light and panoramic views across the Long Island Sound. The building contains a few amenities, which Paredim plans to upgrade and modernize to meet the demands of New Haven’s expanding renter population.
The Taft caters to a mix of professional, graduate and medical school students and research professionals affiliated with or employed at Yale, New Haven Hospital and the surrounding businesses. In addition, New Haven has emerged as the biotech capital of Connecticut. It is ranked as the 13th best city for biotech venture funding in the country, with over 1.5 million square feet of dedicated buildings housing nearly 40 biotech firms, located just blocks away from The Taft.
