Upstate New York
2022 Hudson Valley apartment market - Brian HeineREIT 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.
JLL Capital Markets secures $8.984m in financing for industrial warehouseAlbany, 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.
Cap rates or quack rates? - by John RynneIf 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%.
Orange County Ptrsp. approves Poly Craft projectMiddletown, 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.
November 2022 message from the president of NYSCAR - by Dana CrockerI 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.
Phillips of Largo Real Estate Advisors arranges two refinances - $66.2 millionAmherst, 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
Axiom Capital funds loans for two retail centers - for total sale price of $24.82 millionEast 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
October 2022 message from the president of NYSCAR - by Dana CrockerThe 2023 budget was approved and reports were heard from the committee chairs. RPAC chair Mike Johnson reported that NYSCAR reached 176% of their RPAC goal this year! He thanked everyone for contributing. Strat Planning chairman Joseph Rowley, Jr., updated the board regarding
Greater Binghamton Chamber of Commerce creates strategic office of Placemaking InitiativesBinghamton, NY According to representatives from the Greater Binghamton Chamber of Commerce, the chamber has created a strategic new position with the office of Placemaking Initiatives.
Nave and Lewis of Sutton Real Estate lease 3,700 s/f in SyracuseSyracuse, NY Kristen Nave and Ben Lewis of Sutton Real Estate Company, LLC. represented the landlord in a
3,700 s/f long-term lease of a third floor office to retail conversion space at 301 West Fayette St. in Armory Sq.