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Elm Street building sold for $7.6 million

Photo by Contributed Photo, Contributed

The building that houses Ralph Lauren and Nails Hollywood on Elm Street in New Canaan, Conn., was sold Friday, May 9, 2014, for $7.6 million.

A prime Elm Street building in New Canaan has been sold for $7.6 million.

Treadwell Holdings Inc. sold 109-115 Elm St. to Campana 109 LLC Friday, May 9, the agency representing the seller, Stamford-based Cushman & Wakefield, confirmed Tuesday.

The nearly 9,500-square-foot property currently houses Ralph Lauren, Hollywood Nails and Image Design Group as well as six offices.

The building's annual net income, according to Cushman & Wakefield's website, is $456,016.

A representative for the buyer was unavailable for comment.

Chamber of Commerce's Executive Director Tucker Murphy said it is not unusual for properties downtown to switch hands at this time of the year.

"There definitely is a lot of activity going on," Murphy said. "This is typically when the real estate market tends to heat up, and I'm hearing a lot of potential movements in the downtown business district."

In March, the building on 44-48 Elm St., which is on the corner of South Avenue and houses Soleil Toile and Pimlico, was sold for $4.3 million.

noliveira@bcnnew.com, 203-330-6582, @olivnelson

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