University Hill Realty arranges $9 million sale; Gilbane to develop new student housing

Syracuse NY Christopher Snyder and Dan Murphy of University Hill Realty facilitated the $9 million sale of 800-808 East Fayette St.

Norman Roth, principal broker at University Hill Realty said, “This is another truly positive addition to the area–over the last few years an entirely new neighborhood has been created–and the exciting part of it is that new neighborhood is right at the intersection between downtown Syracuse and the University area. The connection between those two areas of town, and the social and economic activity from those two areas combined is a real and growing boon to Syracuse. Demand for housing and the concomitant increase in demand for business to support these growing areas with services and products will help continue to help growth and renewal in Syracuse. We continue to work with several multi-regional and national developers who have plans for projects of various types and sizes. We have worked in the University area for decades–seeing the positive developments and the new vitality coming into the area is really gratifying.”

The developer, Gilbane Companies plans a 193-unit 480-bed student housing development at the site.