153 Bank Street
New London, Connecticut 06320
Reduced from $2,450,000
- Beds
- 6
- Baths
- 6
- SqFt
- 12,470
- Acres
- 0.18
- Year Built
- 1927
- Property Type
- 5+ Family
Matt Caiola
Luxury Real Estate Advisor
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About This Home
Mixed-use property with 4 commercial units and 6 apartments located in the heart of downtown New London. This 17,378 SF, 3 story building has 4 commercial units in 3,942 SF on the ground level SF commercial and 6 apartments on the 7,884 SF second and third floors. There is a 3,942 SF basement. NOI approximately $117,227. Two of the commercial units are recently available so there is room to increase NOI. Contact office for financials. Excellent investment property with stable cash flow. Property may be purchased as a package with 53 Bank St and 147 Bank Street for a total of 6 commercial units and 17 Apartments.
Key Facts
- City/Town
- New London
- Neighborhood
- N/A
- Property / Style
- Multi-Family · Units on different Floors
- Year Built
- 1927
- Days on Market
- 238 days
- Beds
- 6
- Baths
- 6 full
- Living Area
- 12,470 sq ft
- Lot Size
- 0.18 acres
- Property Taxes
- $17,989 / Annually
Market Snapshot
The New London Market
Multi-Family · trailing 12 months
Active Listings
12
9 under contract
Median List Price
$710,000
12 active listings
Median Closed Price
$400,000
51 sales
Median Days on Market
57
12 active listings
Median $ / Sq Ft
$206
12 active listings
Sale-to-List Ratio
101.3%
51 sales
How this home compares
List Price
$1.73M
vs $710,000 median
2.4× the median
Price / Sq Ft
$138
vs $206 median
33.0% below median
Days on Market
238 days
vs 57 days median
181 days longer than median
Based on 12 active and 51 closed sales (trailing 12 mo) of multi-family in New London. Source: SmartMLS · As of November 7, 2026.
Location
153 Bank Street, New London, Connecticut
Estimate Your Payment
Estimated Monthly Payment
Rates: Freddie Mac PMMS via FRED · Updated Nov 5, 2026per month
- Principal & Interest$9,349
- Property Taxes$1,499
- Insurance$575
- HOA$0
Estimates only. Actual rates, taxes, insurance, and HOA fees vary. Consult a lender for current rates.
Location
- City/Town
- New London
- Neighborhood
- N/A
- County
- New London
Residence
- Property Type
- Multi-Family
- Subtype
- 5 Family+
- Style
- Units on different Floors
- Year Built
- 1927
- New Construction
- No/Resale
- Living Area
- 12,470 sq ft
Schools
- Elementary
- Per Board of Ed
- High
- Per Board of Ed
Interior
- Heating
- Heat Pump
- Heat Fuel
- Natural Gas
- Cooling
- Split System
- Basement
- FullUnfinished
Exterior & Lot
- Lot Size
- 0.18 acres
- Zoning
- CBD-1
- Waterfront Details
- View
- Water Source
- Public Water Connected
- Sewer
- Public Sewer Connected
- Construction
- Brick
- Roof
- Other
- Foundation
- Masonry
- Lot Description
- Level Lot
Listing & Financials
- Property Taxes
- $17,989 / Annually
- Days on Market
- 238
- MLS #
- 24159459
- MLS Status
- Active
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This information is believed to be accurate, but without warranty.
The IDX display contains information sourced from SmartMLS, Inc. as of 11/7/2026. This information is provided for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing or leasing. Data is deemed reliable but is not guaranteed accurate by the MLS, the listing broker, the listing agent, or Matt Caiola. Buyers and tenants should independently verify all information that matters to their decision.
Map locations may be approximate. Any offer of compensation, if applicable, is made only to participants of the MLS where the listing is filed. ©2026 Smart MLS, Inc. All rights reserved.
Data last updated on 11/7/2026 at 12:45 AM UTC.