Syracuse, NY Sutton Real Estate Co. brokered the following transactions:
Louis Fournier and Stephen Saleski of Sutton brokered the sale of the Comfort Inn Carrier Circle. The seller, Visions Federal Credit Union, was represented by Sutton, and the buyer was the Waraich Group, LLC. The sale price was $1.5 million.
Bart Feinberg of Sutton was the sole broker in the sale of 306 Lakeside Rd. The seller, Crossroads Land Management sold to MIZS Syracuse, LLC for $505,000.
New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,