Brook Hollow and the Fairways: Affordable New Haven Residential Communities
Paredim Partners, LLC, maintains nine residential apartment communities throughout Connecticut, in locations such as West Haven, Waterbury, Bloomfield, and Danbury. Our firm also oversees two New Haven properties: Brook Hollow and the Fairways.
With available rentals ranging from 650 to 1,300 square feet, Brook Hollow offers spacious residences. Newly remodeled interiors feature contemporary styling, with wall-to-wall carpeting, central heating and air conditioning, high-speed Internet, and kitchens with a wide range of appliances and fixtures. The property is secure and landscaped with trees and flowering shrubs that reflect the best of Connecticut living. Residents may park on-site and each building comes equipped with intercoms and laundry facilities. The property also features a playground, business center, extra storage units, and on-site leasing office and property management services. One of the most compelling features for young professional families who commute to New York is Brook Hollow’s convenient location, just minutes from I-95 and I-91.
The Fairways’ townhouses offer the same convenience as Brook Hollow with the added benefit of hot water and heat included in the monthly rents. The two- to three-bedroom units feature kitchens remodeled with wide countertops, oak cabinetry, and state-of-the-art refrigerators, dishwashers, and electric ranges. Contractors redesigned and installed bathrooms, incorporating oak vanities, ceramic tiles, and bar lighting fixtures framing expansive mirrors. The second levels of Fairways townhouses offer the distinguished accent of hardwood flooring.
As its name suggests, the Fairways is located just minutes from golfing opportunities, at Alling Memorial Golf Course. The complex’s home near the Southern Connecticut shoreline offers residents close proximity to a wide network of walking trails, while the downtown shopping of New Haven also draws residents.
About the Author: With over two decades of experience in real estate acquisitions, David Parisier serves as founder and Managing Director of Paredim Partners LLC. Parisier’s firm has recently completed the purchase of Hillcroft at Danbury, a residential community that is undergoing $1 million in premises upgrades.
Paredim Communities Property Focus: Rivers Edge Apartment Homes, by David Parisier
About the Author: A property developer with an impressive history in real estate dating back nearly 15 years, David Parisier serves as the founder, Managing Director, and Principal of Paredim Partners, LLC, a firm that owns and manages multifamily properties throughout the Northeastern United States.
One of the premier gated communities in the region of Danbury-Waterbury-New Haven, Connecticut, Rivers Edge Apartment Homes offers an elegance and quality largely unseen among other apartments in the area. Designed and built in the style of English Tudor Revival architecture, the Rivers Edge community features a number of premier amenities to match the charming wooded setting.
Situated in northwestern Waterbury, Rivers Edge was built within walking distance of numerous shopping centers and stores, diverse and elegant dining establishments and eateries, local schools, and plenty of city parks and playgrounds. Just minutes to the north of the apartment community sit several wooded parks, such as the Woodtick Recreation Area and Bucks Hill Park. Residents of Rivers Edge may easily enjoy all that this wonderful recreational paradise has to offer, including miles of forested trails, recreational facilities, ski areas, movie theaters, and entertainment venues. However, after a long day at work, many residents enjoy the peace and serenity that their gated community provides. Strolling through the meticulously landscaped grounds, abundant flowerbeds, and nearby river path creates a relaxing ambiance. The newly developed fitness center is ideally situated next to the community’s swimming pool, which offers a welcome reprieve from hot summer days.
Each of the renovated apartment homes at Rivers Edge features a range of luxury amenities. The majority of these homes include wall-to-wall carpeting, spacious walk-in closets, modern kitchen areas, balconies or patios, and designer finishes. All heat and hot water is covered in the rent, and the property offers updated laundry rooms in each building and plenty of on-site parking. Rivers Edge is located within minutes of I-84, Route 8, and the University of Connecticut-Waterbury campus.
Paredim Partners LLC Seeks Investment in Multifamily Communities
Managing Director, Paredim Partners LLC Many people who own multifamily properties find that the task of maintenance and management reduces the value and convenience of their investment. Although there is a need for multifamily rental units, costs for labor, materials, and insurance also continue to rise. This diminishing return makes it preferable for many to sell their multifamily property rather than watch its condition and value deteriorate. When lenders describe multifamily properties, they generally categorize them as Class A, B, C, or D.
Class D properties generally require the extensive overhauls and hands-on management that can be overwhelming for inexperienced investors.
Class A describes a newer property that usually attracts institutional buyers rather than individuals because of its higher cost. These dwellings, which are less than 10 years old, often require a new buyer to spend less on repairs than they would on older projects. They also have features expected by upscale renters such as fitness rooms, cutting-edge technology, pools, and new fixtures. Class A properties usually generate lower cash flow for investors than older properties, but may in the long run offer more potential for capital appreciation.
Class B properties still attract institutional investors, but the age of the buildings may be as high as 20 years. In most cases, these properties tend to be in desirable neighborhoods and have some amenities. However, dated fixtures and appearances often push the rents of these projects below those of Class A properties. As such, Class B properties appeal to people who want to pay lower rent while still enjoying quality service and amenities. These developments produce good cash flow and have potential for favorable appreciation if maintained and updated regularly.
The Grade C classification defines older multifamily dwellings in declining neighborhoods. These projects generally possess fewer amenities, smaller units, and older fixtures than Class A or B developments. Although rents generate good cash flow for such complexes, investors often find that capital appreciation in the category is limited.
About the Author:
In his capacity as the Managing Director of Paredim Partners LLC, David Parisier seeks multifamily acquisitions in the Class A, B, and C categories. An experienced real estate professional, David Parisier identifies projects that are suitable for rehabilitation.
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