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Originally published May 9, 2013 at 3:59 PM | Page modified May 10, 2013 at 1:40 PM

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Wallingford complex fetches $28M

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That's a very tidy profit - over 50% in just a few years plus the profit from rents... MORE

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An affiliate of New York Life Insurance has bought an upscale Wallingford apartment complex for about $28 million, county records showed Thursday.

The Noble, which was developed by Pillar Properties, a subsidiary of Seattle-based R.D. Merrill Company, contains 93 apartment units at 4301 Stone Way North and opened in March.

An R.D. Merrill partnership bought the three parcels in 2007 and 2008 for about $5.25 million and spent about $12 million on construction, according to public records.

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