Press Releases
Marcus & Millichap Arranges Sale of Multifamily Asset in Upstate New York
September 08, 2026
POTSDAM, N.Y., Sept. 8, 2026 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Meadow East, a multifamily property in Potsdam, New York.
"Meadow East, a 100-unit community, was approximately 30% vacant at the time of sale, presenting an extensive value-add opportunity in a tertiary upstate New York market,” said Matthew Gault in Marcus & Millichap’s Westchester office. “Our team expanded the buyer pool beyond the immediate market and identified an experienced upstate operator whose ownership of similar assets in comparable markets allowed him to get comfortable with the property’s heavy-lift repositioning."
Gault, Seth Glasser and Mike Fusco of Marcus & Millichap exclusively marketed the property on behalf of the seller, Meadow East Associates LP, and procured the buyer, Stonehaven Residences.
Located at 118 Leroy St., Meadow East is a 100-unit multifamily property on a 15.4-acre lot. The property was built in 1963 and consists of 84,186 rentable square feet. The unit mix includes 26 one-bedroom, 52 two-bedroom and 12 three-bedroom apartments.
Meadow East is situated in the foothills of the Adirondacks and the St. Lawrence Valley, near Clarkson University and SUNY Potsdam. It is close to the Raquette River, the Canadian border and US Route 11.
"Meadow East, a 100-unit community, was approximately 30% vacant at the time of sale, presenting an extensive value-add opportunity in a tertiary upstate New York market,” said Matthew Gault in Marcus & Millichap’s Westchester office. “Our team expanded the buyer pool beyond the immediate market and identified an experienced upstate operator whose ownership of similar assets in comparable markets allowed him to get comfortable with the property’s heavy-lift repositioning."
Gault, Seth Glasser and Mike Fusco of Marcus & Millichap exclusively marketed the property on behalf of the seller, Meadow East Associates LP, and procured the buyer, Stonehaven Residences.
Located at 118 Leroy St., Meadow East is a 100-unit multifamily property on a 15.4-acre lot. The property was built in 1963 and consists of 84,186 rentable square feet. The unit mix includes 26 one-bedroom, 52 two-bedroom and 12 three-bedroom apartments.
Meadow East is situated in the foothills of the Adirondacks and the St. Lawrence Valley, near Clarkson University and SUNY Potsdam. It is close to the Raquette River, the Canadian border and US Route 11.
# # #
About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2025, the company had 1,808 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 8,818 transactions in 2025, with a sales volume of approximately $50.9 billion. For additional information, please visit www.MarcusMillichap.com.
