'Landmark' Milford Property Sold For $3.65 Million

Milford CT

13 May, 2021

8:46 AM

Description

MILFORD, CT — The former iconic Costa Azzurra restaurant and banquet facility at 72 Broadway has been sold for $3.65 million, according to Michael Richetelli, President of Colonial Properties, Inc. Tony Vitti represented the buyer in the purchase of the property from Livio Faustini, for $3.65 million. The direct waterfront property, consisting of 10,000 +/- SF on 1.720+/- acres, was formerly Costa Azzurra restaurant and banquet facility. The property will be redeveloped into a new banquet facility and the owners plan to break ground immediately, officials said. Costa Azzurra had been a staple in the Milford community for decades and had closed amidst COVID and family concerns, officials said. The buyer's attorney was Brian Lema of Berchem and Moses in Milford; the attorneys for the Seller were Larry Langerman and Anthony Benedosso of Karp and Langerman in Milford. "We are very pleased to be able to facilitate this transaction for a landmark piece of property. Costa Azzurra was a special place in the community for a long time, serving the residents of Milford and the region for many special occasions. This very unique parcel has considerable direct waterfront. The new development will be a first class banquet facility, featuring beautiful water views, providing memories for many for years to come." said Richetelli. Costa Azurra restaurant had occupied the site since the 1970s. According to new plans, the existing single story building would be replaced by a 2-story building with less square footage, but the same use. The Milford Mirror reported that the new eatery and banquet hall will be called Tyde at Walnut Beach and will be operated by Peter and Antonietta Landino, who operate Cascade Fine Catering, a wedding facility and banquet hall in Hamden. The Milford Mirror reported that the second floor will serve as a restaurant Monday, Tuesday and Wednesday and then the facility will utilize the first floor Thursday through Sunday for weddings and banquets. A brunch will be served on Sunday at the restaurant. Costa Azzurra Restaurant had been known throughout New England for fresh Italian Seafood and featuring an extravagant venue for weddings and banquets on "our beautiful waterfront property overlooking Long Island Sound."