Beach Homes Realty

WaterfrontNew Listing

21 pawcatuck avenue

Stonington, CT 06379

$3,800,000

5.23 AC LOT

Lots and Land - Residential

WaterfrontNew Listing

Acreage 5.24

Status Active

MLS # 24195924

County New London

More Info

Category Lots and Land - Residential

Status Active

Acreage 5.24

MLS # 24195924

County New London

The 5.24-acre property features the historic Clark Thread Mill building dating to 1899, just south of the first mill building converted in 2016 into 58 apartments known as The Threadmill. Current owners of the property have obtained approvals for another 58 units in the available building, with at least 58 more units indicated by the town as readily approvable on the vacant land. The property comes with State grant money of $4M to $6M to totally rehabilitate the building, State tax credits in the amount of $4.5M, and unlimited Federal tax credits of 20% of post-rehab construction costs, estimated to be another $6M. State tax credits can be available as cash upon completion of the project, while Federal tax credits can be purchased by tax credits investors for cash or rolled into a construction bridge loan.

Location not available

Listing

Street

Satellite

Exterior Features

Garage No
Water Public Water In Street
Sewer Public Sewer In Street
Lot Description Water View

Neighborhood & Schools

Elementary School Per Board of Ed
High School Stonington

Financial Information

Parcel ID 2079388
Zoning MC-80

Additional Services

Internet Service Providers

Listing Information

Listing Provided Courtesy of Academic Co-Realty Services - (203) 458-0550

Listing Agent Gregory Walwer - (203) 623-4600

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Listing data is current as of 08/08/2026.

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