Marcus & Millichap brokers hospitality asset sale in suburban Syracuse

East Syracuse, NY Marcus & Millichap brokered the sale of the DoubleTree Syracuse, a 250-room hotel in the Carrier Circle area.

“With over 17,000 s/f of meeting space, including the two largest ballrooms among the competitive set, the DoubleTree Syracuse provides the best facilities for meetings and events, and is well positioned to capture demand from Micron and other groups in the local market,” said Andy Kern of Marcus & Millichap. “Recent supply reductions will drive demand as the 235-room Sheraton Syracuse University Hotel and the 277-room Crowne Plaza Syracuse closed in 2024 to be converted into student housing.” 

Kern, Jerry Swon, and David Altobello of Marcus & Millichap, in association with John Horowitz, Marcus & Millichap’s broker of record in New York, represented the seller and procured the buyer, both of whom are private investors.

Opened in 1977 and renovated in 2016, the DoubleTree Syracuse has one central building that contains all public areas, plus four-story and seven-story guestroom wings. Amenities include a tavern and bar, a business center, an indoor swimming pool, and a fitness center. The sale is the seventh hotel transaction completed in the Syracuse metropolitan area by Kern, Swon, and Altobello.