News: Brokerage

Cushman Wakefield | Pyramid secures multiple sales and leases; Includes $840,000 sale of 126 Dwight Park Circle

Syracuse, NY Cushman Wakefield | Pyramid Brokerage Company arranged the following sales totaling $1.99 million and149,525 s/f in leases: • Salina Industrial Powerpark secured a renewal at their 800,000 s/f facility located at 1 General Motors Dr., Syracuse. Roth Global Plastics has renewed their 103,000 s/f lease, long-term, at their current location in the industrial park. Roth specializes in the designing and implementation of environmentally friendly products for high-performance systems for energy production, storage, and distribution. Paul Mackey and John Clark, SIOR, CRE of Cushman Wakefield | Pyramid Brokerage Company, brokered the leases. • Leslie Osterman Associates, Inc. signed a long-term lease for 23,413 s/f of warehouse and office space at The Lyndale Commercial Park, located at 2801 Court Street Rd., Syracuse. Osterman Associates is a stocking manufacturer’s representative specializing in electrical and lighting products. Mackey represented the landlord and Gary Cottet and John Rogers represented Osterman Associates. • The 3-acre parcel located at 6739 Myers Rd., East Syracuse sold to The DeFrancisco & Falgiatano Law Firm. The firm purchased the property in August 2015 for $150,600 and is planning to build a new office building for their law practice. Cottet brokered the sale. • David Carnie of Cushman Wakefield | Pyramid Brokerage Company represented the tenant Proshred Security in their lease of 2,675 s/f of office service space located at 6067 Corporate Dr., East Syracuse. • The 20,000 s/f industrial building located at 126 Dwight Park Circle, Syracuse, sold to Paul Daly, president of Image Auto, LLC. He purchased the property in July 2015 for $840,000. Michael Kalet of Cushman Wakefield | Pyramid Brokerage Company brokered the sale on behalf of the seller Matrix Real Estate LLC. • The 14,665 s/f garage maintenance facility located at 6014 Drott Dr., East Syracuse sold to Doyle Properties. The firm purchased the property in June 2015 for $650,000 from John & Richard DiMarco. Cottet and Bill Evertz of Cushman Wakefield | Pyramid Brokerage Company brokered the sale. • Morrison’s Furniture Store recently leased 16,637 s/f at the retail store front located at 1068 Arsenal St., Watertown, making this their second Watertown location. Morrison’s Furniture is one of Northern New York’s largest furniture retailers and offers a variety of name brand furniture, carpet and bedding. Christopher Clark of Cushman Wakefield | Pyramid Brokerage Company brokered the lease. • Young’s General Corp. purchased the 11,200 s/f medical office building located at 150 Central Ave., Ilion for $350,000. Michael Conley and Debra Acee of Cushman Wakefield | Pyramid Brokerage Company represented the seller, M&T Bank. • The Skeele Insurance Agency, a fourth generation, family owned and operated professional, independent insurance agency, leased the 3,800 s/f office building located at 121 Main St. West, Waterville. Debra Acee of Cushman Wakefield | Pyramid Brokerage Company brokered the lease transaction.
MORE FROM Brokerage

REALM, DelShah Capital and A.M. Properties acquire 377,000 s/f CitySpire office condominium

Manhattan, NY REALM, in partnership with DelShah Capital and A.M. Properties, acquired  CitySpire, a 377,000 s/f office condominium comprising 24 floors within the 70-story tower at 156 W 56th St. in Midtown. Adjacent to Central Park with transit access and amenities, CitySpire is a Class A office asset located in one of the city’s most sought-after office corridors.
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
Tri-state capital  migrates nationally amid  regulation pressure - by Reese Weaver

Tri-state capital migrates nationally amid regulation pressure - by Reese Weaver

New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,

The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman

The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman

July 1, 2025 is the deadline for US banks to begin to adopt Basel III banking standards and July 14, 2025 is the deadline for U.S. banks to adopt ISO 20022 messaging standards. Both will have a significant effect on the banking and commercial real estate (CRE) finance sectors.
A fresh start - by Shallini Mehra and Amit Doshi

A fresh start - by Shallini Mehra and Amit Doshi

For the past several years, the New York City multifamily housing market has been defined by disruption. The combined impact of the HSTPA rent laws and a sharply higher interest rate environment has fundamentally reduced
The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking