Ballston Spa, NY Adirondack Capital Partners (ACP) sold Northway Eleven Communities, a 952-unit, 240-building, 131-acre free-market multifamily complex. Adirondack Capital Partners represented the seller and the buyer in the transaction, marking the largest free-market multifamily sale in the history of New York state outside of New York City.
Located in the Capital Region, Northway Eleven Communities is a residential asset that offers scale in a high-growth corridor. Spanning over 131 acres, the community features 240 buildings and nearly 1,000 units, providing a unique investment opportunity in a region where multifamily properties of this magnitude are exceedingly scarce.
The transaction was handled by Michael Hunter Coghill, managing partner of Adirondack Capital Partners.
“This sale represents a milestone in the upstate New York multifamily market, demonstrating the continued strength of the sector and investor appetite for well-positioned assets of significant scale,” said Michael Hunter Coghill. “Northway Eleven Communities is an extraordinary property, and we are proud to have successfully executed this transaction on behalf of our client.”
The sale of Northway Eleven Communities highlights the strength of the multifamily market in upstate New York, where increasing rental demand, favorable economic trends, and limited new supply continue to attract institutional and private capital. The transaction further solidifies Adirondack Capital Partners’ position as the market leader in the brokerage of high-value multifamily assets throughout the state.
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