Groton Townhome Complex Sells to NYC Investment Firm

Northeast Private Client Group (NPCG) recently closed the $25,400,000 sale of Groton Townhomes, located at 126 Litton Ave., Groton, CT. Managing director Bradley Balletto represented the seller, Groton Ventures LLC of New Jersey, and procured the buyer, Rowin Capital and its affiliate Penlane Real Estate, a private real estate investment firm headquartered in New York City and led by principals Joseph Scherban and Daniel Scherban.

“Groton boasts a diverse, resilient, and growing employment ecosystem with a strong demographic profile,” said Joseph Scherban. “We are excited to be able to provide quality housing to area residents,” said Daniel Scherban.

Groton Townhomes is a 141-unit apartment community totaling 116,460 square feet across 29 buildings on 9.24 acres. The complex includes one-, two- and three-bedroom townhomes and is located minutes from the General Dynamics Electric Boat facility in Groton.

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