Ceruzzi Holdings LLC (Ceruzzi) is pleased to announce the development of a new residential building at 66 Summer Street in Stamford, Connecticut. Built in 2015, the 15-story property was purchased by KC Summer Street Owner LLC, a joint venture between Ceruzzi and KABR Group, includes 174,000 SF of apartment and amenity space and 7,000 SF of retail space and currently holds 209 units.
66 Summer Street features a steel, concrete and glass exterior and contains a high-end amenity package, parking and modern finishes. The property is minutes from the Stamford Metro North station as well as popular local restaurants, shopping and entertainment destinations.
“The Ceruzzi team is proud to partner with KABR Group to develop this conveniently located, amenity-rich property,” said Art Hooper, President of Ceruzzi Properties. “Future residents and business owners will enjoy premier access to numerous downtown attractions and several modes of transportation. For businesses, this is a great opportunity to gain significant exposure to the community in an area with consistent foot traffic and business travelers.”
About Ceruzzi
Ceruzzi Properties is a full-service real estate company with expertise in all aspects of development and management including ownership, leasing, property management and development for residential, hotel, retail, and office projects. Ceruzzi is currently completing several mixed-use luxury high-rise projects in New York City, numerous student housing projects located at major universities across the southern and western U.S. as well as mixed-use commercial projects in the northeast.
Ceruzzi Holdings was created in 1988 by its late founder Louis L. Ceruzzi, Jr. Since the firm’s inception, Ceruzzi has successfully developed over 15 million SF of luxury apartments, hotels, student housing, shopping centers, and offices, operating independently as well as in partnership with other organizations such as Vornado, Starwood, SMI, Kuafu and Inland Real Estate, among others. The firm has successfully completed over 500 commercial lease transactions, establishing key relationships with preeminent hotel and national retail brands.For more information, please visit ceruzziproperties.com.
About KABR Group
KABR is an investment adviser specializing in commercial real estate investments and fund management. KABR was founded in 2008 by Kenneth Pasternak, Laurence Rappaport, and Adam Altman (the “Principals”) and is headquartered in Ridgefield Park, NJ. Since inception, KABR has raised four fully-discretionary funds totaling over $218 million in capital and one single-asset focused Core –Plus investment vehicle with over $11 in capital (66 Summer entity).
KABR leverages its competitive advantages and reputation to capitalize on real estate inefficiencies, over-leveraged assets, demographic changes, and economic growth. KABR targets value-added, opportunistic, distressed debt, special situations, and development real estate investments in the New York metropolitan area and southeastern region of the U.S.
