Escoffery Buys 516 Elm St. for $240,000 — Fire Restoration
Ferdinand Escoffery bought 516 Elm St. on May 22 for $240,000 and has begun fire restoration on the vacant three-family house after the October 2024 fire. His company, National Construction LLC, also took out a $392,000 mortgage loan on the property the same day.
The Bethany-based builder said he plans to gut-rehab and restore three apartments at the Elm Street property. He said, “My plan for the building is to fully renovate it, bring it down to the studs, get rid of all the fire damage.”
516 Elm St. sale
The house last sold for $109,900 in 2009 and was most recently appraised by the city at $300,000 for tax purposes. The previous owner was 56-58 Avon Street LLP, a company controlled by Jianchao Xu.
Escoffery said, “Finally, we closed the deal,” after the purchase. He added that his crew has already pulled an exploratory building permit and started cleaning out and gutting the property.
Escoffery's renovation plan
Escoffery said he hopes to have 516 Elm St. rehabbed in the next four months or so. He said the exterior will be finished first so it is “not an eyesore in the community,” and said the finished building will be painted blue and white, his “signature color.”
The work follows his recent renovation of 452 Dixwell Ave., a two-family house wrecked by a July 2024 fire and now open and occupied again. He is also finishing four new apartments at 15 Colby Ct. in Upper Westville, another fire-damaged property.
Elm Street reopening
At 516 Elm St., 32-year-old Kenneth Mims died by suicide in the October 2024 fire. For nearby residents, the property is moving from a vacant, damaged building toward a rebuilt three-family house with three apartments back in use.
