News: Brokerage

Sutton Real Estate closes $5.67 million in sales and leases 6,462 s/f; Includes $1.2 million sale of former Retreat by Feinberg

Syracuse, NY Sutton Real Estate completed the following sales totaling $5.67 million and 6,462 s/f in leases: • Andrea Bucci brokered the sale of a Syracuse University Student Housing property for $425,000. The seller was Student Housing LLC and the buyer was SSJZ, LLC and financed by Empower FCU. Bucci also brokered the sale of an apartment building on Grolier Rd,. Syracuse for $595,000. • Bart Feinberg brokered the $2.65 million purchase of 4616 Crossroads Parks, a 84,000 s/f storage and distribution facility located at 4616 Crossroads Park Dr., Liverpool to SEKO Worldwide. • Feinberg brokered the sale of an office building located at 731 James St., Syracuse for $800,000. The seller of the property was James Street LP, California and the buyer was Hometown Communities, LLC, with financing provided by Empower FCU. • The former Thornfield Retreat on Cazenovia Lake consisting of 37 acres with 750 feet of lake frontage was sold by the Episcopal Diocese of CNY for $1.2 million to be developed into condominiums. The sale of the property was brokered by Feinberg. • Larry Socia represented Liberty Travel in their leasing of 2,112 s/f in Fayetteville Town Center and Joy Carpet in their leasing of 4,350 s/f in Glenn Crossing Plaza, Liverpool.
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

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
Multi-generational multifamily owners - who’s in and who’s out - by Shallini Mehra and Amit Doshi

Multi-generational multifamily owners - who’s in and who’s out - by Shallini Mehra and Amit Doshi

Many long-time property owners are divesting from their rent stabilized properties at an increasingly rapid pace. This trend has gained momentum primarily due to the unyielding permanence of rent laws over the past six years and the increasing operating costs that continue to outstrip rent growth. In addition, the judiciary’s elongated timeline in processing evictions and tenant rent challenges,
Artificial intelligence in lending - by Lindsay Mesh Lotito

Artificial intelligence in lending - by Lindsay Mesh Lotito

Artificial intelligence (AI) is beginning to help transform lending by enhancing decision-making, improving risk management and streamlining operations. With AI-powered tools that analyze vast amounts of data, lenders are able to assess borrower creditworthiness more accurately and efficiently. AI can evaluate a wide range of factors,
Navigating the changing landscape of hotel Property Improvement Plans and conversion brands - by Andrew Cameron

Navigating the changing landscape of hotel Property Improvement Plans and conversion brands - by Andrew Cameron

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.