Upstate New York

Vachon and de la Garza of KeyBank CDLI secure $10.6 million for Cornerstone’s acquisition of 52-unit Silver Lake Meadows

Perry, NY KeyBank Community Development Lending and Investment (CDLI) provided $10.6 million to Rochester’s Cornerstone Group, Ltd. (Cornerstone) for the acquisition and rehabilitation of Silver Lake Meadows, a 52-unit, fully subsidized family project at 165 Lake St.

Muroff Hospitality sells 31 room inn for $1.94 million; rebranded Phoenix Inn Resort

North Creek, NY Muroff Hospitality Group sold The Phoenix Inn Resort (formerly known as the Copperfield Inn), at 307 Main St., for $1.94 million. Mitch Muroff represented the seller, Diana Espalza, and secured the buyer, Buhai and Zihan Ren, in this exclusive offering.

Larkin to instruct March 21st course

Verona, NY On March 21st, NYSCAR will feature Joseph Larkin, CCIM, MCR, SIOR teaching Real Estate Investment Measurements Using Excel. Time: 11:00 am – 1:00 pm via Zoom

Kelly of Hanna Commercial Real Estate named NYSCAR Realtor of the Year

Albany, NY James Kelly, CCIM, Hanna Commercial Real Estate, Syracuse, was named NYSCAR’s Realtor of the Year for 2022 during the February 7 NYSCAR board meeting. The NYSCAR Realtor of the Year award is given each year to recognize an outstanding active member of the New York State Commercial

March 2023 message from the president of NYSCAR - by Dana Crocker

The NYSCAR board of governors met on February 7th, at the Crowne Plaza/Desmond Hotel in Albany. The board is looking forward to another productive year and the offering of so many great courses free to the NYSCAR membership. Also, the annual conference will be held June 14-16, 2023 at the Turning Stone Resort and Casino in Verona. Save

Kelly of Hanna honored by NYSCAR

Albany, NY The Upstate New York CCIM Chapter has named James Kelly, CCIM, as this year’s recipient of the Commercial Realtor of the Year. Shown are Dana Crocker NYSCAR president of Hunt Commercial Real Estate and James Kelly of Hanna Commercial Real Estate.

2023 upstate New York apartment market - by Brian Heine

In the largest upset of the multifamily industry since the financial crisis of 2008 the Federal Reserve has raised the fed funds rate over 400 basis points in 10 months to 4.5%, the highest level in 15 years. According to chairman Powell the goal is to create enough unemployment to reduce inflation down from 6% to 8% annually back to the 2% range and at the same time

Feinman and Farrell of Vanguard-Fine, LLC broker two retail leases

Oneonta, NY Benjamin Feinman of Vanguard-Fine, LLC brokered the 900 s/f lease between Polish Nails Salon and Oneontawood, LLC at 762 Rte. 28. Christopher Farrell and Feinman of Vanguard-Fine, brokered the lease between Aldi, Inc.

Rochester Area Chapter of NYSCAR names 2023 new board members

Rochester, NY The Rochester Area Chapter (RAC) of the New York State Commercial Association of Realtors (NYSCAR) named three new board members for 2023: Thomas Latta, Buckingham Properties, has joined as vice president. Dexter Craig, North Star Real Estate, and Justin Merriam, Flaum Management Company, Inc., have joined as directors. They join new president, Christopher

TAYLOR building 30,000 s/f production plant/warehouse/office for J.D. & Sons Seafood

Chili, NY TAYLOR was awarded the construction contract for the new J.D. & Sons Seafood facility. TAYLOR is teaming with Costich Engineering and Greater Living Architecture for new construction of the 30,000 s/f production plant, warehouse and office located at 100 International Blvd. Lot 104, within the Rochester International Commerce Center