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SoNo Property Finally Hitting its Stride

NORWALK, CT-A South Norwalk building that has experienced its share of troubles almost from the time it opened its doors nearly 30 years ago appears to have put its problems behind it thanks to a $5 million capital-improvement campaign.

By John Jordan | Updated on August 27, 2001

NORWALK, CT-The ownership of the 50 Washington St., building in South Norwalk has not only significantly increased its occupancy levels since it completed a $5-million renovation program, but is now looking to present an expansion plan to the city for approval.

Lloyd Amster, manager partner for the joint venture that owns the 190,000-sf, 12-story building, says that its multimillion-dollar renovation program has paid tremendous dividends. The partnership–SoNo Equities LLC and 1122 Associates LLC–acquired the property for approximately $7 million in February 1999. At that time the building was about 50% occupied. Since then, the ownership conducted upgrades on the building’s HVAC system, common areas, roof and waterproofing operations and also brought fiber-optic technology into the building. Today, the building is 82% occupied.

He acknowledges that the 50 Washington St. property had experienced its share of troubles and has gone through a host of ownership changes since it first opened its doors in the early 1970s. However, the introduction of high-speed communications infrastructure at the building has been one of the keys to its recent turnaround.

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