Non-Performing Note Sale: Willard Street Apartments | Receiver in Place

Starting Bid: December 16th, 2026

Brokered by JLL and powered by RealINSIGHT Marketplace, the offering is a non-performing first mortgage loan secured by Willard Street Apartments at 17-21 Willard Street in Hartford, Connecticut, a 27-unit multifamily property. The note carries an unpaid principal balance of $2,716,904, and the buyer steps into the lender position with remedies already in motion: a Notice of Default was issued in May 2026, a foreclosure complaint seeking a receiver was filed in July 2026, and a court-appointed receiver now controls the property. Built in 1929 and renovated in 2020, the building offers 22,350 SF of rentable area. Occupancy was 81.5% as of March 31, 2025, leaving room to lease vacant units toward submarket levels, where vacancy averages approximately 6%. The loan was originated in June 2022 to fund the acquisition and matures in June 2029. Hartford is an established urban market anchored by hospitals, major employers, schools and universities, all within walking distance or reachable by public transit, giving the note buyer a potential path to title at a significant discount to replacement cost.To view similar notes currently for sale, see the links below.Non-Performing Note Sale: Tower View Apartments | Receiver in Place | RI MarketplaceNon-Performing Note Sale: Mark Twain Apartments | Receiver in Place | RI MarketplaceNon-Performing Note Sale: Johnson Street Apartments | Receiver in Place | RI Marketplace

Court-Appointed Receiver Already in Place: A court-appointed receiver oversees the property, handling rent collection and daily operations.

Potential Path to Ownership at a Discount: The non-performing loan offers a potential path to title at a deep discount to replacement cost.

Strong Hartford Submarket Fundamentals: Located in a submarket with strong multifamily fundamentals, including average vacancy near 6%.

Strategic Location With Strong Connectivity: Hospitals, major employers, schools and universities are within walking distance or a transit ride.

Starting Bid: $400,000 

Auctioneer: Lamar P. Fisher

Auctioneer Company: Fisher Auction Company Inc.