Former industrial building and Saybrook site sold for $ 640,000

Photo by Luther Turmelle

A limited liability company bought this industrial building on Elm Street in Old Saybrook.

Contribution photo /

OLD SAYBROOK – The former Pye & Hogan manufacturing plant on Elm Street has been sold, according to the real estate brokers who oversaw the transaction.

The 31,000 square foot industrial building located at 167-1 Elm St., Old Saybrook sold for $ 640,000. The building was purchased by a limited liability company, Cross Road LLC, whose principal member is Mark Robert Bussolotti, according to the Connecticut Secretary of State’s office.

Bussolotti owns Eurocars Plus, a Groton car dealership. The dealership and Cross Road LLC have the same address, according to the Secretary of State’s office.

The building was sold by Fernwood Realty LLC, whose principal member is Jeffrey Woods of Essex and whose family has owned the property for years.

The building housed Pye & Hogan Machine Co., which manufactured aerospace parts at the site until late 2009 before moving to Chester and changing the name of the company.

There are now five tenants in the Old Saybrook building, according to Richard Lombardo, a broker in the Milford office of Pearce Real Estate Commercial, who represented Woods in the case.

Lombardo said Bussolotti’s limited liability company purchased the property as an investment and will keep the same tenants.

Susan Beckman, director of economic development for Old Saybrook, said Cross Road LLC had not requested any permits to expand or make changes to the building.

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