



Syracuse, NY According to Sutton Real Estate Co., the new headquarters for the Syracuse Community Federal Credit Union will open at 1816 Erie Blvd. East. This 1994 medical office building was sold for $600,000. The deal was negotiated by Karen LaRocca and Richard Robb of Sutton. Edward Kiesa of CBRE represented the buyer.
Plans for the building include adding drive-thru banking services by extending a driveway to accommodate vehicle circulation; erecting a canopy for weather-protected services; and interior alterations to accommodate back-office and retail banking with an opening this year.
Additionally, Sutton completed the following transactions:
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,