News: Brokerage

Sutton Real Estate closes three sales totaling $1.47 million and 7,110 s/f in leases

Syracuse, NY According to Sutton Real Estate, the firm has completed the following transactions:

311 Montgomery Street - Syracuse, NY 311 Montgomery Street - Syracuse, NY

• John Thomasmeyer represented the seller of 311 Montgomery St., the former home of Central New York Telephone and Telegraph Co. that was converted to a mixed use property. The sale price for the 10,000 s/f historic building was $900,000.

• Bart Feinberg represented the Telesis Community Credit Union in the sale of 198,000 s/f warehouse/ distribution facility located at 123 Great Bear Rd. in Volney for $350,000.

• Ken Tyminski represented the seller of 212 Franklin St., a two story building with Indigo Salon leasing the first floor and Macknight Architects the buyer building out their offices on the second floor. The selling price was $220,000.

• Feinberg leased 2,670 s/f in Creek-walk Commons to Express Mart. This is a new concept by Express Mart to provide groceries and other amenities to the increasing number of residents and employees downtown. Terms were $21 per s/f for seven years.

• Feinberg leased 1,440 s/f in Chimney Plaza in DeWitt to Frameology Optical. Frameology Optical has the exclusive rights to sell European made eyeglasses in Upstate. This seven-year term was settled at $2,000 per month.

• Barret Paving entered into a lease for 3,000 s/f in the Sherwood Office Park in Liverpool. Kristen Nave Fehlman represented the Sherwood Office Park with Dick Robb representing Barrett Paving. Terms of the five-year lease were $14.50 per s/f.

Sutton Real Estate Co., a full service commercial real estate company, was founded in 1933 and is one of the most successful property management and brokerage firms in Upstate New York. Sutton consists of approximately 100 employees and independent sales associates committed to delivering high quality services including property management, brokerage, development and temporary receivership.

MORE FROM Brokerage

Berger and Koicim of Marcus & Millichap sell 17-unit multi-family for $8.8 million

Manhattan, NY Marcus & Millichap negotiated the sale of 207 E. Fourth St., a 17-unit mixed-use multi-family property the East Village. The asset sold for $8.8 million. “This transaction underscores
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
AI comes to public relations, but be cautious, experts say - by Harry Zlokower

AI comes to public relations, but be cautious, experts say - by Harry Zlokower

Last month Bisnow scheduled the New York AI & Technology cocktail event on commercial real estate, moderated by Tal Kerret, president, Silverstein Properties, and including tech officers from Rudin Management, Silverstein Properties, structural engineering company Thornton Tomasetti and the founder of Overlay Capital Build,
Lasting effects of eminent domain on commercial development - by Sebastian Jablonski

Lasting effects of eminent domain on commercial development - by Sebastian Jablonski

The state has the authority to seize all or part of privately owned commercial real estate for public use by the power of eminent domain. Although the state is constitutionally required to provide just compensation to the property owner, it frequently fails to account
Strategic pause - by Shallini Mehra and Chirag Doshi

Strategic pause - by Shallini Mehra and Chirag Doshi

Many investors are in a period of strategic pause as New York City’s mayoral race approaches. A major inflection point came with the Democratic primary victory of Zohran Mamdani, a staunch tenant advocate, with a progressive housing platform which supports rent freezes for rent
Behind the post: Why reels, stories, and shorts work for CRE (and how to use them) - by Kimberly Zar Bloorian

Behind the post: Why reels, stories, and shorts work for CRE (and how to use them) - by Kimberly Zar Bloorian

Let’s be real: if you’re still only posting photos of properties, you’re missing out. Reels, Stories, and Shorts are where attention lives, and in commercial real estate, attention is currency.