Water Street Acquires Interest in 545 Long Wharf Drive, New Haven

New Haven, CT – November 15, 2024 - After marketing the property for the past year, Cushman & Wakefield is pleased to announce that Water Street has acquired an interest in 545 Long Wharf Drive, a key component of the Long Wharf Maritime Center. Water Street took over operational control of the 252,000-square-foot building on November 1st.

The building’s transition to Water Street was finalized after negotiations between Todd Taylor, Managing Partner at Water Street, and Tony Minopoli, Chief Investment Officer for the Knights of Columbus. Both parties recognized that a partnership would be the most beneficial path forward. Evan O’Brien of Cushman & Wakefield arranged the sale of the partial interest and has been retained as the leasing agent for the building.

“Unlike many CRE investors since the pandemic, Todd and Water Street recognized the positive momentum in New Haven, particularly it’s office market,” stated Evan O’Brien, Senior Director, Cushman & Wakefield.

"We believed in Todd and his team's vision for value creation at 545 Long Wharf and their ability to execute a strong asset management strategy. Water Street has our full support," added Minopoli.

Water Street’s goal is to establish 545 Long Wharf Drive as the premier business address in New Haven. The building is currently home to notable tenants, including Ameriprise, Barclay Damon, CCM/CIRMA, Knights of Columbus, Morgan Stanley and Tek Systems.

“The building is uniquely positioned in the market,” said Taylor. “The Knights have made essential capital improvements, maintaining the asset’s high standard and operational efficiency. The manageable size of the building, its anchor tenants, its value proposition for Class A office tenants, its easy accessibility to I-95 & I-91 and its outstanding water views and free parking will prove this to be a great investment.”

Water Street is committed to collaborating with the city of New Haven to advance the Long Wharf redevelopment plan. “Connecticut’s coastal cities are becoming keen to maximizing property values south of I-95. BLT’s redevelopment of Stamford’s south end is a prime example and New Haven’s plan is another focusing on coastal resiliency, progressive economic strategies and community engagement,” added Taylor.

Water Street currently owns and manages 18 commercial real estate assets and has offices in New Haven and San Antonio, TX. Water Street is also excited to announce that it will be relocating from Guilford to a new 4,500-square-foot suite at 545 Long Wharf on December 1st.

For further information, please contact:

Todd Taylor
Managing Partner
Water Street
+1 203-494-2226
todd@waterstreetmgmt.com