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Brokerage
Posted: March 25, 2008
Pyramid Brokerage Company handles two sales - $1.02m
Pyramid Brokerage Company has recently completed two sales totaling $1.02 million.
Brian Snow, managing director of Pyramid's Utica office, brokered the sale of a 17,000 s/f self storage facility located at 7884 Tanner Rd. George Ruffrage purchased the property from 7884 Tannery Rd. LLC for a price of $200,000. Snow represented the seller in this sale transaction.
The former General Heat Treating facility, located at 6770 Benedict Rd., East Syracuse was sold to LMI Realty LLC for $820,000. The 40,433 s/f building will be the new home to Edward Joy Company. It will house the company's high tech manufacturing operations. Gary Cottet of Pyramid's Syracuse office, represented the seller, GE Capital.
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Quick Hits
Columns and Thought Leadership
Behind the post: Why reels, stories, and shorts work for CRE (and how to use them) - by Kimberly Zar Bloorian
Let’s be real: if you’re still only posting photos of properties, you’re missing out. Reels, Stories, and Shorts are where attention lives, and in commercial real estate, attention is currency.
Lasting effects of eminent domain on commercial development - by Sebastian Jablonski
The state has the authority to seize all or part of privately owned commercial real estate for public use by the power of eminent domain. Although the state is constitutionally required to provide just compensation to the property owner, it frequently fails to account
Strategic pause - by Shallini Mehra and Chirag Doshi
Many investors are in a period of strategic pause as New York City’s mayoral race approaches. A major inflection point came with the Democratic primary victory of Zohran Mamdani, a staunch tenant advocate, with a progressive housing platform which supports rent freezes for rent
Lower interest rates and more loan restructuring can help negate any negative trending of NOI on some CRE projects - by Michael Zysman
Lower interest rates and an increased number of loan restructurings will be well received by the commercial real estate industry. Over the past 12 months there has been a negative trend for NOI for many properties across the country.
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