Orange-based Colonial Properties recently represented the buyer in the purchase of banquet facility Costa Azzurra in Milford for $3.65 million. Image courtesy of Colonial Properties.
Orange-based Colonial Properties recently represented the buyer in the purchase of a waterfront property in Milford for $3.65 million.
Tony Vitti of Colonial brokered the purchase of 72 Broadway from Livio Faustini. The property, with 10,000 square feet on 1.72 acres, was formerly Costa Azzurra restaurant and banquet facility. The property will be redeveloped into a new banquet facility and the owners plan to break ground immediately.
Costa Azzurra had been a staple in the Milford community for decades and had closed amidst COVID and family concerns. The buyer’s attorney was Brian Lema of Berchem and Moses in Milford; the attorneys for the seller were Larry Langerman and Anthony Benedosso of Karp and Langerman in Milford.
“We are very pleased to be able to facilitate this transaction for a landmark piece of property. Costa Azzurra was a special place in the community for a long time, serving the residents of Milford and the region for many special occasions. This very unique parcel has considerable direct waterfront. The new development will be a first-class banquet facility, featuring beautiful water views, providing memories for many for years to come,” said Michael Richetelli, president and designated broker of Colonial Properties.