‘Heritage Square’: New Units on Forest Street Are Selling, Bucking 2015 Trend in Condos

Five of the seven new condominiums going up on Forest Street downtown are in various stages of being sold—bucking an overall trend among New Canaan condos and a nod to the strength of new construction in this buyer’s market, Realtors say. Located above what will be street-level retail in a mixed-use development near the corner of Locust Avenue that’s been named ‘Heritage Square,’ the condos include four 2- and 3-bedroom units in the 1,800- to 2,000-square-foot range, two 4-bedroom, 3,000-square-foot penthouses and a 3,500-plus-square-foot “duplex” that encompasses two floors, according to Bill Hecker of Houlihan Lawrence, sole agent representing seller/developer Chris Gatto. Just two of the smaller-sized 3-bedroom units are available—they’re listed at $1.8 million—and the condos should be move-in ready next spring, Hecker said. “This to me is a really good sign because there is not a whole lot you can see there right now,” Hecker told NewCanaanite.com. “You can see the structure but if you walked into any of the units it’s just studs—there’s no drywall in yet, so for the buyer to envision what is being delivered is a very big challenge on the part of myself and Christopher Gatto, the developer.