Pyramid Management secures loan
extension for Sangertown Square

New Hartford, NY Pyramid Management Group has secured a three-year extension for the loan on Sangertown Square. This extension will allow Pyramid to continue to reinvest in the property and ensure its vitality, vibrancy and sustained success in Central New York and the Mohawk Valley.

Swon and Anton of Marcus & Millichap
broker sale of two hotel portfolio

Syracuse, NY Marcus & Millichap negotiated the sale of a two-property hotel portfolio in Upstate New York. “I am pleased to have successfully transacted this nuanced deal,” said Jerry Swon. “Both hotels will be renovated, with the Staybridge continuing to operate

Perlman of Largo closes multi-family construction loan

East Aurora, NY Ned Perlman, vice president of upstate originations at Largo Real Estate Advisors, Inc. negotiated the closing of a $1 million multifamily construction loan. The planned units will be within walking distance to grocery stores and the attractions of Main St.

Appraisal Institute’s Upstate courses scheduled in February and May 2025

Rochester, NY The Upstate New York Chapter of the Appraisal Institute has two classes currently scheduled for real estate appraisers for continuing education (CE). The February 21^st seminar will be the seven hour Residential & Commercial Trends in Ellicottville at the Holiday Valley Resort & Conference Center

February 2025 NYSCAR president’s message - by Robert Strell

The New York State Commercial Association of Realtors Board of Governors met on Tuesday, February 4, 2025 at the Crowne Plaza Desmond Hotel in Albany. The following officers were installed for 2025:  Robert Strell, WNY, president; Mercedes Brien, Rochester, first vice president; Carolyn Vinci, WNY, second vice president;

2024 Upstate New York apartment market - by Brian Heine

Two recent high profile court cases illustrate the difficulties facing the real estate business in New York state. Robert Morgan of Rochester settled his long-running mortgage fraud case for $16.3 million and a single guilty plea while also admitting to no guilt or wrongdoing. The FBI had

Riley of Cushman & Wakefield to head Upstate New York Chapter of the Appraisal Institute

Syracuse, NY The Upstate New York Chapter of the Appraisal Institute (AI) will be led by Shawn Riley, MAI of Cushman & Wakefield as president for 2025. Other officers include Thomas LaBelle, MAI, AI-GRS as vice president, Robert Chelus, AI-GRS as

Perlman of Largo Real Estate Advisors
closes two loans for $6.5 million

Williamsville, NY Ned Perlman, vice president of Upstate Originations at Largo Real Estate Advisors, Inc., closed two upstate properties totaling $6.5 million. The first property is a 18,610 s/f retail property. Most of the space is occupied by a local restaurant tenant.

Empire Commercial Construction builds-out 25,000 s/f at Lowe’s Plaza for Get Air Trampoline Park

Greece, NY Empire Commercial Construction completed the contract for Get Air Trampoline Park. Empire partnered with Greater Living Architecture for design of the over 25,000 s/f tenant fit-out located at 3160 West Ridge Rd. in the existing Lowe’s Plaza.

WinnCompanies completes transformation of
10 historic, low income apartment buildings

Buffalo, NY WinnCompanies has completed a $20.5 million renovation of 10 historic, low-income apartment buildings in the city’s downtown modernizing the properties and preserving all 135 units as affordable housing for 40 years.