One of downtown’s earliest residential conversion projects has a new owner. Ansonia Center Owner LLC purchased the mixed-use complex at 716 Main Street from Ansonia Center Partners LLC yesterday for $5 million.
The Theater District complex at the northwest corner of Main and Tupper streets contains 59 apartments and 17,000 sq.ft. of commercial space. Henry Balling of Balling Construction was the lead on the then $5.6 million project. It opened in 1985, long before downtown loft living took off and required a $1.27 million Urban Development Action Grant and a loan from the City. Both Balling and his firm declared bankruptcy in 1990 and the building was foreclosed on.
The new owner is registered to a New York City address.