NY Realty Investor Expands CT Portfolio with Downtown Hartford Office Tower Mortgage

According to the Hartford Business Journal, Namdar Realty Group has purchased the mortgage on the 30-story, 340,247-square-foot Goodwin Square office tower in downtown Hartford at 225 Asylum St. The mortgage, with a balance of $28.25 million, was sold by M&T Bank, even though the building’s current owner is up to date on loan payments. The office tower, which is about 76.1% leased, has faced challenges in tenant recruitment due to limited investments in improvements. The acquisition adds to Namdar’s portfolio of properties, which includes several malls in Connecticut, as the downtown Hartford office market continues to struggle with high vacancy rates.

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