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Mixed-Use

Herald Commons

220 Herald Pl, Syracuse, NY 13202

Listing Price: Request For Offer

Number of Units
28
Occupancy
100.0%
Gross SF
65,536

Investment Overview

Marcus & Millichap is pleased to present Herald Commons, a newly redeveloped luxury apartment building located at 220 Herald Place in Syracuse (Onondoga County), New York. The building, originally built in 1928 for the Syracuse Herald Newspaper, was completely renovated in 2018, and converted into 28 apartments on the second, third and fourth floors, including 25 two-bedrooms and 3 one-bedrooms. The ground level consists of 5 retail units anchored by PressRoom Pub. The property is situated on 1.37 acres with 130 surface parking spaces and provides the opportunity to build an additional structure in the parking lot.

Investment Highlights

  • Turnkey Asset, Completely Renovated in 2018
  • Building is 100% Occupied with a Waitlist of 30+ People for Apartments
  • Square Footage of Residential Units are 30% Larger than the Market Average
  • Residential Units are 26% Under Market Rent, Allowing for Organic Upside Upon Lease Expirations
  • Currently, 71% of Apartments Provide a Den/Office Making it Easy to Work From Home
  • Desirable Location in Downtown Syracuse, Minutes From Major Employers and Attractions
  • Tenants Responsible for all Utilities
  • Conveniently Located Adjacent to Interstate 690 - 0.1 Mile from Exit

Exclusively Listed By

  • Joseph French Jr.

    Licensed Associate Real Estate Broker

    (914) 220-9740

    Email Joseph

    License(s): PA: AB067393, NY: 10301207036, CT: REB.0239741, NJ: 9210310

    Westchester

  • Matthew Gault

    Licensed Real Estate Salesperson

    (914) 220-9745

    Email Matthew

    License(s): NY: 10401313423

    Westchester

  • Kodi Traver

    Licensed Real Estate Salesperson

    (914) 220-9758

    Email Kodi

    License(s): NY: 10401335618

    Westchester

Financing By

Mixed-Use

Herald Commons

Listing Price: Request For Offer

Number of Units
28
Occupancy
100.0%
Gross SF
65,536

Investment Highlights

  • Turnkey Asset, Completely Renovated in 2018
  • Building is 100% Occupied with a Waitlist of 30+ People for Apartments
  • Square Footage of Residential Units are 30% Larger than the Market Average
  • Residential Units are 26% Under Market Rent, Allowing for Organic Upside Upon Lease Expirations
  • Currently, 71% of Apartments Provide a Den/Office Making it Easy to Work From Home
  • Desirable Location in Downtown Syracuse, Minutes From Major Employers and Attractions
  • Tenants Responsible for all Utilities
  • Conveniently Located Adjacent to Interstate 690 - 0.1 Mile from Exit

Investment Overview

Marcus & Millichap is pleased to present Herald Commons, a newly redeveloped luxury apartment building located at 220 Herald Place in Syracuse (Onondoga County), New York. The building, originally built in 1928 for the Syracuse Herald Newspaper, was completely renovated in 2018, and converted into 28 apartments on the second, third and fourth floors, including 25 two-bedrooms and 3 one-bedrooms. The ground level consists of 5 retail units anchored by PressRoom Pub. The property is situated on 1.37 acres with 130 surface parking spaces and provides the opportunity to build an additional structure in the parking lot.

Exclusively Listed By

  • Joseph French Jr.

    Licensed Associate Real Estate Broker

    (914) 220-9740

    Email Joseph

    License(s): PA: AB067393, NY: 10301207036, CT: REB.0239741, NJ: 9210310

    Westchester

  • Matthew Gault

    Licensed Real Estate Salesperson

    (914) 220-9745

    Email Matthew

    License(s): NY: 10401313423

    Westchester

  • Kodi Traver

    Licensed Real Estate Salesperson

    (914) 220-9758

    Email Kodi

    License(s): NY: 10401335618

    Westchester

Financing By

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