Not long ago, Stamford Landing was one of the Connecticut city’s most glaring eyesores. The 5-building, 200,000-square-foot office park on Stamford Harbor sat half-vacant and required major improvements and upgrades. Seaboard Properties believed with the right investment and management, the site could become a thriving diversified business park and a model for the resurgence of Stamford as a major urban center.
“We bought the property, implemented a major capital program and added a lot of tenant amenities,” says President John DiMenna. “As a result, the complex was consistently 90 to 95 percent occupied. We sold it in 2007 and our investors enjoyed a tremendous return.”
Seaboard Properties specializes in finding hidden gems in Connecticut’s most vibrant city, with a diversified portfolio of multifamily, retail, office and hospitality. Founded in 1992, this closely held company has consistently thrived, even during economic downturns like the current recession.
“Because we are locally owned and we are focused on one locale, we are able to deliver the ultimate services to our clients, while finding opportunities that others cannot,” DiMenna says.
Opportunities such as: Park Square West, a nine-story Class A luxury apartment property in the heart of downtown Stamford. 100 Prospect, two luxury residential towers within walking distance of the popular Bedford Street corridor. Marriott Courtyard®, a 115-room hotel in the center of downtown Stamford. The property also includes 4,000 square feet of retail, occupied by Napa & Company, named “Best of the Gold Coast 2012” by Connecticut Magazine.
1 Atlantic Street, a landmark office property contiguous to the Marriott Courtyard®.
And there are many more examples, each acquired, renovated and managed with an eye on Stamford’s future as a major emerging 24/7 urban center in the Northeast.
“We think Stamford is the number one urban environment in the NY/NJ/CT metropolitan area outside New York City,” says DiMenna, who has been involved in Stamford real estate for 25 years. “Financial services, health care, tech industries and, more recently, media companies are relocating to Stamford because of the relatively low cost of living, its 24/7 downtown center and its proximity to Manhattan.”
Seaboard Properties proudly supports many community organizations, including the Stamford Center for the Arts, the Housing Development Fund, Stamford Hospital and others. In 2008, DiMenna was honored for his work with the Fairfield County chapter of the March of Dimes. Seaboard Properties is committed to giving back to the community that has rewarded the company’s investments during the past 20 years.
“I love the transformational aspect of real estate,” DiMenna says. “To take something that’s distressed and make it better is rewarding not just to our investors, but to the entire community.”
1 Atlantic Street | Stamford, CT 06901 | 203.357.1600 www.seaboardproperties.com