Fayetteville, NY Larry Van Der Bogart, and Marty Dowd of CBRE Syracuse exclusively represented the owner in the sale of 5427 North Burdick St.
Broome County, located in the center of the Southern Tier region, has been the home for innovative ideas for generations. We are the birthplace of modern technology such as virtual reality, the flight simulator, and personal computing, and did you know that the patent for the first hybrid-vehicle was developed in Broome?
Syracuse, NY AmTrust RE completed nine lease transactions, comprising more than 80,000 s/f at 100-120 Madison St., a two-building, 635,000 s/f office property.
REIT AvalonBay Communities sold the 110-unit Class A Avalon Bronxville, in Westchester County, for $89 million or $809,000 per unit in 2021. A suburban garden apartment complex built in 1998, rents are $3,568-$8,834 per month for the one to three-bedroom apartments; a 2-bedroom 2-bath is advertised for $4.70 per s/f per month.
Albany, NY JLLCapital Markets has arranged $8.984 million in acquisition financing for 136 Fuller Rd., a 266,412 s/f industrial warehouse. JLL worked on behalf of the borrower, Vermont-based Redstone, in securing the 10-year, fixed-rate loan through Capital Bank.
If it looks like a duck and quacks like a duck, it might be a duck; quack, quack!!! As interest rates have escalated in all sectors over the past three quarters so have overall capitalization rates. The 10-year treasuries have escalated 146% from 1.63% to 4.01%.
Middletown, NY Poly Craft Industries, an advanced manufacturer, and printer of laminated and non-laminated plastic products has received final approval from the city’s planning board.
I am pleased to thank Mary Peyton and Russell Gullo, CCIM for teaching recently. Mary taught the topics of implicit bias and cultural competency on Monday, September 19, 2022 with the course: Is a Rhombus a Square? Envisioning Bias and Culture in Real Estate. Students earned four hours of continuing education credit and met the new course requirement for license renewal.
Amherst, NY Jack Phillips, MBA, principal at Largo Real Estate Advisors, arranged refinancing for two Upstate properties. Phillips secured $23 million to refinance a pair of medical office buildings. The buildings are 100% occupied
East Greenbush, NY Axiom Capital Corp. has structured and arranged $24.82 million in permanent loans for two retail properties. Axiom Capital Corp. has structured and arranged a $11.62 million permanent loan (10-year loan, fixed rate
