Simonds of CBRE-Albany completes two sales totaling $2.765 million
Eric Simonds, CCIM of CBRE-Albany brokered the following sales totaling $2.765 million:
* The sale of 2736 State Highway 30 in the Town of Mayfield. This 32,300 s/f class A office building includes a 19,300 s/f garage as well as a 7,500 s/f cold storage building on 68 acres. This property was sold by Tetra Tech, Inc. and was purchased by Lexington Foundation. CBRE-Albany represented the seller and Coldwell Banker Arlene Sitterly represented the buyer. The property transferred for $2.5 million.
* The sale of 11 Grandoe Lane, in the city of Gloversville. This 65,000 s/f two-story office warehouse building was sold by Grandoe Corporation and purchased by Olbrych Realty, Inc. for $265,000.
Bronx, NY Investment Property Realty Group (IPRG) closed the sale of 216, 218, 220 East 179th St., a development site located in the Mount Hope section of the city, for $3.735 million.
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When owners are due for a significant Property Improvement Plan (PIP), they must carefully evaluate what the best course of action is. Over the past five years, major hotel brands have become significantly more flexible with their PIP schedules.
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There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking