Syracuse, NY Christopher Snyder and Dan Murphy of University Hill Realty Ltd. represented the buyer, Blue Vista Student Housing Acquisitions LLC, and four separate ownership groups as sellers in a complex assembly of existing buildings, parking lots and land totaling 2.18 acres within blocks of the Syracuse University campus. The properties involved in the transaction are: 941-949 East Genesee St., 310 South Crouse Ave., 325-327 Irving Ave., and 938 South Crouse Ave. The package sold for $12.85 million.
The developer, Peak Campus Housing, plans a six-story, 604-bedroom building offering amenities, covered parking and retail space.
Norman Roth, principal broker at University Hill Realty said, “Demand for student housing continues to be quite strong, with several additional well-known groups having plans at various stages of development. Having worked in the immediate Syracuse University area for several decades, it is enormously gratifying to see the positive redevelopment that is actually creating new neighborhoods in our city.”