Former Stone Academy East Hartford campus sells for $1.25 million
The former Stone Academy East Hartford campus has been sold for a combined $1.25 million, according to Amodio & Co., which handled the sale.
The company said in an online message that the two properties “at the corner of Burnside Avenue and Scotland Road,” which are 745 Burnside and 763 Burnside, were “sold to two separate owners.” The piece at 745 Burnside closed for $600,000 and the one at 763 Burnside was sold for $425,000, according to Amodio & Co.
The abrupt and messy closing of Stone Academy has been a disaster for thousands of students, many of whom are single parents who struggled to balance home and work while borrowing heavily to obtain an education that would lead to higher paying positions.
The state relicensed the school for five years in November 2021, but within months the owners were in talks with state regulators, who had become concerned over academic performance.
A lawsuit filed in December in U.S. District Court, asserts that after the school closed, state regulators acted illegally by retroactively invalidating academic course credits accumulated by students during a period when Stone was operating as a state approved and licensed private occupational school.
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Amodio & Co. said in the online message that the “new owners of both properties plan renovations with uses to include continued office use, and potentially other uses, including multifamily conversion of the newer 745 Burnside two story classroom building.”
The company noted that Frank Amodio, Sr., represented the seller, Olmsted Realty, and Eric Amodio, represented the buyers of 745 Burnside.