A Restored Pratt Street
Through improved and restored retail storefronts, renovated residential spaces, and curated programming, Pratt St is being rediscovered.
New York realty investor Shelbourne, which has become one of downtown Hartford’s most prolific landlords, is buying another key piece of center-city real estate.
The company said Tuesday it has purchased 57, 65 and 75 Pratt St., properties that encompass 74,220 square feet of space. The acquisitions will complement nearby buildings Shelbourne already owns.
In August, the realty investor paid $2.35 million for a pair of adjoining, historic buildings on Pratt and Trumbull streets, opposite the XL Center, that contain a combined 115,000 square feet of space.
Terms of the most recent purchases weren’t immediately available, but they likely signal plans by Shelbourne to breath new life into Pratt Street, which has long been considered an underutilized and underdeveloped brick-laden thoroughfare in downtown Hartford.
“The acquisition of these buildings, on one of Hartford’s most historic and recognizable streets, also supports our continued efforts to reinvigorate Downtown Hartford,” the company said in a statement. “Shelbourne views Pratt Street as a unique location that is primed for redevelopment. We look forward to working with our community partners … to continue to maximize and expand the opportunities that exist on Pratt St.”
In recent years, Shelbourne has acquired three of downtown’s largest, most recognizable office towers: 20 Church St., known locally as the Stilts Building; 18-story, blue-glass sheathed 100 Pearl St.; and Metro Center, 350 Church St., housing Lincoln Financial Group.
The company also recently announced it was co-partnering with Hartford parking magnate Alan Lazowski on a bid to buy the 26-story Gold Building, which is one of the city’s most iconic and recognizable skyscrapers.
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