Upstate New York

Community Bank System to acquire Steuben Trust Corp.

Syracuse, NY Community Bank System, Inc. and Steuben Trust Corp. have entered into a definitive agreement pursuant to which Community Bank System will acquire Steuben Trust Corp., parent company of Steuben Trust Co.,

People Inc. hold ribbon cutting for Linwood Lafayette Senior Apts.

Buffalo, NY According to People Inc., Linwood Lafayette Senior Apartments, a new $11.6 million affordable housing development with 37 apartments, has been completed. The development will also include support

November message from the president of NYSCAR’s Upstate chapter - by Guy Blake

NYSCAR held their annual meeting on September 24th, 2019 at the Turning Stone Resort and Casino in Verona.  Several members attended the NYSAR Commercial Issues Working Group meeting which was held just prior to the annual meeting. Many legislative topics were covered including

Live Nation and Saratoga Performing Arts Ctr. begin $9.5 million renovation

Saratoga Springs, NY According to governor Andrew Cuomo, construction is underway on a $9.5 million renovation project at Saratoga Performing Arts Center, an arts and culture destination located in Saratoga Spa State Park

Community Loan Fund of Capital Region expands business incubator: $12 million project to include office, retail and housing

Albany, NY The Community Loan Fund of the Capital Region unveiled its plans for the expansion of its business incubator at an October 17th event. The new business incubator, which will be located at 236 Clinton

Syracuse Realty Group brokers $1.187 million in sales and leases total of 23,450 s/f

North Syracuse, NY Syracuse Realty Group has completed three sales totaling $1.187 million and leased a total of 23,450 s/f. Orazio Crisalli of Syracuse Realty represented the seller in the

Vida-Blend breaks ground for new 14,000 s/f facility – $1.4 million

Amsterdam, NY Vida-Blend, a manufacturer of premixed vitamin blends, formally broke ground October 25th in special ceremony to begin construction of a new production facility in Montgomery County.

What great CPAs ask about cost segregation, and what you should too–Part 1 of 4 - by Christie Ellis

Cost segregation provides income tax savings to owners of all types of commercial real estate and buildouts, by accelerating depreciation, decreasing taxable income, and providing you with income tax savings. If you own any

New York’s real estate tax syndrome: Are taxpayers becoming more accepting of high real estate taxes? - by John Rynne

The issue of high real estate taxes in New York State (NYS) used to be covered by numerous media outlets as interesting and an “attention getter” news story. Maybe it’s my imagination that the coverage on this topic has diminished. It is possible that our senses have become numbed by the

Axiom Capital arranges $3.1 million permanent financing

Greece, NY Axiom Capital Corp. has arranged $3.1 million in permanent financing for the refinance of a retail/ office plaza. The non-recourse loan was for 10 years at a fixed rate amortized over 30 years. The loan demonstrated a sub 60% LTV with