An iconic New Haven riverfront property – The Quinnipiac River Marina – has been purchased by a local landlord and developer. The address is 289-315 & 318 Front Street, New Haven. PGX Holdings, LLC purchased the property for $1,625,000.00. The marina property is an assemblage of six different Fair Haven parcels and includes a restaurant, a 9,579 SF office building, parking, dry dock space, a chandlery, gas dock and boat slips. The parcels total 2.16 acres and more than one hundred boat slips. The sale also includes two single-family homes.
The Seller is Great Oak Real Estate, LLC and Quinnipiac River Marina, LLC, both directed by Lisa Fitch who ran the day-to-day operations of the Marina for a decade. Ms. Fitch, worked to weave the marina into the fabric of the riverfront neighborhood, hosting the annual QRiverfest, creating a hub for the local boating community, offering kayak rentals, providing space for local artisans, small businesses, and members of New Haven’s burgeoning aquaculture industry, as well as serving as a temporary home for the Yale Crew Team when their home waters on the Housatonic River were frozen.
This unique property first hit the market with The Geenty Group, Realtors in 2019. Interested parties from Florida to California chased the opportunity. It was a busy year at the marina. A new eatery, Streets Boathouse, opened in the restaurant space in 2020 and had a great year despite COVID. The property served as a location in two feature films while discussions progressed. The property was under contract multiple times with out-of-town parties who eyed the spot for everything from multi-family housing development to a nightclub. However, with PGX Holdings, LLC., much will remain the same.
The Buyer plans to continue and expand on the groundwork that Ms. Fitch has already laid. Mendel Paris of PGX Holdings, LLC has spoken about increasing the number of tiny houses and floating tiny houses on the property while keeping the marina operations in full swing.
The Geenty Group, Realtors was the sole broker in the transaction. Attorney James Brownstein of Neubert, Pepe and Montieth represented the Seller and was integral to the successful closing of this sale. Attorney Ben Trachten represented Mr. Paris and PGX Holdings, LLC.