Upstate New York

December 2022 message from the president of NYSCAR - by Dana Crocker

As the new year approaches, NYSCAR looks forward to offering more courses to the membership free of charge. On January 17, 2023, NYSCAR will offer a two-hour continuing education session “Introduction to Cost Segregation” with Frank Giudici.

Commercial real estate marketing may see slight decline in prices in 2023 - National Assocs. of Realtors

Orlando, FL Although commercial real estate prices may see a slight decrease nationwide, strong job growth will continue to drive demand in many markets, according to NAR chief economist Lawrence Yun.

CBRE arranges $31 million sale of 156-unit Grand Pointe Park to Lexington Property Group

Poughkeepsie, NY Representatives of CBRE, led by Jeff Dunne, Richard Gatto, Fahri Ozturk, Eric Apfel, Stuart MacKenzie, and Zach McHale, negotiated the $31 million sale of Grand Pointe Park, a 156-unit multifamily community.

Cleeman Realty Group brokers $15.95m sale of Grand Union Plaza

Cortland, NY Cleeman Realty Group brokered the $15.95 million sale of Cortland Grand Union Plaza. The 133,846 s/f shopping center is anchored by a Grand Union grocery store on a 21.6 acre lot.

The Agency readies for demolition of former IBM Country Club for new affordable housing project by Conifer/LeChase

Union, NY The Agency was joined by Broome County and town of officials to begin the demolition of the former IBM Country Club located at 4301 Watson Blvd. LeChase Construction, Delta Engineers and Gorick Construction will oversee the demolition of the blighted property.

Largo Capital Ltd. places $130 million

Montreal, Quebec Kevin Ross, managing director at Largo Capital Limited, arranged $130 million for the refinance of an office building.

Funiciello of JF R.E. sells Rosie’s Sports Pub & Grille

Syracuse, NY The 15,256 s/f former Tipperary Hill landmark, Rosie’s Sports Pub & Grille, at 1443 West Genesee St. has sold for $455,000

GreyHill Group acquires 64,536 s/f industrial building from Perry

Rochester, NY GreyHill Group has acquired a 64,536 s/f industrial property at 69 Seneca Ave. The one-story building is located in one of the city’s busiest commercial areas.

KABR Group and BTF complete $30m purchase of New City S.C.

New City, NY The KABR Group along with its joint venture partner BTF completed the $30 million purchase of the 125,110 s/f New City Shopping Center located at 78 North Main St. The retail site is 96% leased. The asset is in Rockland County’s CBD and less than one hour from New York City.

Van Der Bogart and Dowd of CBRE Syracuse sell 23,672 s/f car dealership

Fayetteville, NY Larry Van Der Bogart, and Marty Dowd of CBRE Syracuse exclusively represented the owner in the sale of 5427 North Burdick St.