Malagisi of Sperry Van Ness sells 172-pad mobile home park for $3.6m

Sperry Van Ness/Commercial Realty has completed the sale of Champion Mobile Home Park for $3.6 million, within 96% of its asking price. The property is located at 1273 Rte. 5 East. Nicholas Malagisi, managing director for Sperry Van Ness/Commercial Realty, represented the seller, a Massachusetts-based owner who Malagisi had represented 22 years ago when they originally purchased the park, and the buyer, the residents of the property. "The residents formed a home-owners association that is borrowing the money from the state and a non-profit group that promotes resident ownership of mobile home parks," said Malagisi. According to Malagisi, it is the first mobile home park in upstate New York that is owned by its residents. At the time of sale, the property was at 93% occupancy. The property consists of 172 pads on 46 acres. Founded in 1987, Sperry Van Ness is one of the largest commercial real estate brokerage firms in the industry, with more than 990 advisors in over 150 markets. The firm is built to immediately market every one of its clients' properties to the entire brokerage community. Sperry Van Ness delivers results for clients through a proven business model that provides advanced marketing and technology tools. Based in Irvine, Calif., the firm operates internationally and provides brokerage, consultation, asset management, property management, leasing, accelerated marketing, and auction services. For more information, please visit www.svn.com.