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Brokerage
Posted: June 23, 2008
Harris of Binswanger represents Empire State Dev. in $2.222 million sale
Binswanger Advisory Services has brokered the $2.222 million sale of a 48-acre parcel. The buyer, Syracuse Resorts LLC, is the sole-purpose entity of a group of Long Island investors and developers. While firm plans for the property have not been announced, any development will be subject to local zoning ordinances.
Empire State Development Corporation, the chief economic development agency for the state of New York, sought to transfer this property, formerly a home for the mentally disabled, to the private sector. Andrew Harris, senior vice president of Binswanger, represented the agency. He has advised Empire State in the disposition of over 20 surplus institutional facilities throughout the state. These properties encompass over 10 million s/f of space and 3,200 acres with a combined transaction value in excess of $75 million.
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