Upstate New York

Stan Johnson Co. acts for 1031 buyer in $2m acquisition

Clifton Park, NY Stan Johnson Co. has completed the sale of a single-tenant healthcare property.  The 4,969 s/f building is located at 3 Emma Ln. and is fully leased to Rezolut Imaging.

Valente and Saleski of Sutton handle $3.6 million hotel sale

Rochester, NY Sutton Real Estate Co. completed the following: • The Rochester Downtown Holiday Inn, located at 70 State St., was sold for $3.6 million. The subject is a seven story, 250,712 s/f full service hotel with 217 rooms

Bucci of Acropolis Realty Group handles Upstate sales totaling over $5.265 million

Mexico, NY Andréa Bucci, associate real estate broker with Acropolis Realty Group, handled the following transactions: • 5-16 Kimberly Ln. sold for $2.71 million, above asking price. Kimberly Apts, LLC sold to an undisclosed buyer.

Berkshire Hathaway Blake Commercial Division facilitates $2.1 million sale

Troy, NY According to Berkshire Hathaway Blake Commercial Division, two buildings located downtown, sold for $2.1 million. The properties contain 30 apartments and nine commercial spaces. The buyer is an undisclosed investment group from downstate. The cash deal closed Oct. 30.

NYSERDA and National Grid launch energy savings program

Albany, NY The New York State Energy Research and Development Authority (NYSERDA) and National Grid have launched the Home Energy Savings Program, a pioneering, pay-for-performance residential energy savings pilot program in Central New York. This initiative will help provide opportunities for contractors

Largo originates $6.2 million for Buffalo multifamily development

Buffalo, NY Ned Perlman, vice president of originations at Largo Capital’s local office arranged construction to permanent financing for a multifamily development. The $6.2 million transaction consisted of a $5 million first mortgage and a $1.2 million line of credit

1031 exchange is a solution to transition into passive real estate ownership - by Russell Gullo

Scenario: You have owned investment real estate for many years and have been involved in the day-to-day (active) management of the assets. You are at the point in life where you are tired of being an “active” investor but you’re unsure if you can afford to sell because of the tax associated with your gain.

December message from the president of NYSCAR - by James Walker

Call for Realtor of the Year Nominations – NYSCAR is taking nominations for the 2020 Realtor of the Year.  If you would like to nominate an active NYSCAR member for this year’s award, please send a nomination letter to NYSCAR, 130 Washington Ave., Albany, NY 12210 by December 15th.

Defining the new landscape of workforce development - by Stacey Duncan

At the end of the day, workforce development is truly about the people. As leaders in defining the new workforce landscape, The Agency and the Greater Binghamton Chamber of Commerce through the Leadership Alliance are striving to bolster the workforce while simultaneously fostering a sustainable quality of life for all Broome County residents.

How three sectors came together to help their community with a new affordable housing model - by Jennie Schaff

In an effort to address some of the many issues found at Affordable Housing complexes in our country, as well as to help find homes for those in need of affordable housing in our community, a unique and innovative partnership was formed. Our team at Jewish Family Service of Rochester, New York (JFS) sought out a local affordable apartment community