147 Bank Street
New London, Connecticut 06320
Reduced from $1,500,000
- Beds
- 3
- Baths
- 3
- SqFt
- 8,701
- Acres
- 0.09
- Year Built
- 1900
- Property Type
- 3 Family
Matt Caiola
Luxury Real Estate Advisor
Request a private showing and get Matt's read on price, condition, and next steps.
About This Home
Fully leased, mixed-use property located in the heart of downtown New London. This 11,894 SF, 2 story building has a 3,193 SF commercial space on the 1st floor and 3 apartments on the 5,508 SF second floor. There is a 3,193 SF basement. The apartments have high ceilings, large windows and beautiful views of the Thames River. Building was fully renovated in 2017. NOI approximately $76,536. Contact office for financials. Excellent investment property with stable cash flow. Property may be purchased as a package with 53 Bank St and 153 Bank Street for a total of 6 commercial units and 17 Apartments. Aerial Footage: https://tinyurl.com/147-153bankstreet
Key Facts
- City/Town
- New London
- Neighborhood
- N/A
- Property / Style
- Multi-Family · Units on different Floors
- Year Built
- 1900
- Days on Market
- 186 days
- Beds
- 3
- Baths
- 3 full
- Living Area
- 8,701 sq ft
- Lot Size
- 0.09 acres
- Property Taxes
- $13,225 / Annually
Market Snapshot
The New London Market
Multi-Family · trailing 12 months
Active Listings
13
11 under contract
Median List Price
$525,000
13 active listings
Median Closed Price
$366,250
46 sales
Median Days on Market
27
13 active listings
Median $ / Sq Ft
$195
13 active listings
Sale-to-List Ratio
101.2%
46 sales
How this home compares
List Price
$1.35M
vs $525,000 median
2.6× the median
Price / Sq Ft
$155
vs $195 median
20.5% below median
Days on Market
186 days
vs 27 days median
159 days longer than median
Based on 13 active and 46 closed sales (trailing 12 mo) of multi-family in New London. Source: SmartMLS · As of September 15, 2026.
Location
147 Bank Street, New London, Connecticut
Estimate Your Payment
Estimated Monthly Payment
Rates: Freddie Mac PMMS via FRED · Updated Sep 10, 2026per month
- Principal & Interest$7,012
- Property Taxes$1,102
- Insurance$450
- 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
- 3 Family
- Style
- Units on different Floors
- Year Built
- 1900
- New Construction
- No/Resale
- Living Area
- 8,701 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
- 0.09 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
- $13,225 / Annually
- Days on Market
- 186
- MLS #
- 24159494
- MLS Status
- Active
Similar Properties
Homes with a close match in area, property type, and price.
This information is believed to be accurate, but without warranty.
The IDX display contains information sourced from SmartMLS, Inc. as of 9/15/2026. 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 9/15/2026 at 2:25 AM UTC.