Three Albanian immigrants have become the new owners of one of downtown Waterbury’s most recognizable historic buildings, purchasing the landmark Neil O’Leary Building for $4.1 million.
Gezim Kulla, Albana Lame, and Sali Barolli recently acquired the six-story property at 36 North Main Street in Waterbury, Connecticut, from Green Hub Development, which completed a major restoration of the building in recent years.
Built in 1894, the 40,000-square-foot structure originally served as the headquarters of the Odd Fellows fraternal organization. Before its redevelopment, parts of the building had deteriorated significantly, with some sections at risk of collapse. Green Hub purchased the property from the city in 2023 for $900,000 and carried out an extensive renovation supported by a $10 million state grant aimed at revitalizing downtown Waterbury.
For the new owners, the investment is deeply personal.
“Waterbury is the city that gave us the opportunity to settle, get better, invest and grow,” Kulla said. “So, why not?”
The three investors, all originally from Albania, have built successful careers in Connecticut. Kulla works as an electrical engineer and manager at ASML, one of the world’s leading semiconductor equipment manufacturers. Lame serves as Waterbury’s Director of Community Strategy, while Barolli is the Cultivation Director at CTPharma.
In addition to their professional accomplishments, all three are active members of Waterbury’s Albanian-American community and hold leadership roles within the Albanian American Muslim Community Center.
The building is nearly fully occupied and anchored by a long-term lease with the University of Connecticut (UConn), which expanded its downtown Waterbury campus into approximately 26,300 square feet of the property in 2023. The space is used for psychology, nursing, and allied health programs. Access Rehab also leases space in the building under a separate long-term agreement.
The investors say they are interested in pursuing additional development opportunities in Waterbury, continuing their commitment to the city that helped them establish their lives in the United States.
Green Hub Development principal Joseph Gramando said the company received interest from several out-of-state buyers but ultimately chose the Albanian-American group because of their desire to continue investing locally.
“We thought that it would be a great fit for the city to have somebody come in that wants to do more development,” Gramando said.
The purchase highlights the growing impact of Albanian immigrants in the United States, demonstrating how members of the community are not only building successful careers but also investing millions of dollars into the cities they now call home.
