Three contiguous parcels at the edge of downtown New Canaan, long thought destined for residential redevelopment, sold this month for a combined $9,250,000, records show.
70 Pine St. Credit: Michael Dinan
Two of the parcels—at 70 Pine St. (which sold for $5.5 million) and 58 Pine St. ($1,750,000)—currently have single-story brick-exterior buildings on them, while the property directly west, 72 Grove St. ($2 million), has an 1890-built house.
The property transfers were recorded July 10 in the Town Clerk’s office.
The Pine Street lots are abutted to the south by a pair of vacant Richmond Hill Road lots that total about .75 acres combined.
72 Grove St. Credit: Michael Dinan
The newly purchased properties, totaling 1.49 acres, are each owned by limited liability companies that are themselves owned by another LLC—called “Pine Grove Development LLC” and based at 50 Pine St., according to Connecticut Secretary of the State records. That company was formed June 12, the records show. Based at 50 Pine St., Pine Grove Development’s principal is listed as Gridiron Capital’s co-founder and managing partner (its business email address is listed on the Certificate of Organization as Gridiron Capital).