Herald Commons 220 Herald Pl 27 Unit Block of Flats £9,045,360 (£335,013/Unit) 7% Net Initial Yield Syracuse, NY 13202

INVESTMENT HIGHLIGHTS

  • Heavy daytime foot traffic
  • Open plan with exposed brick walls
  • Walking distant to Armory Square
  • Lots of natural light
  • 5,000 sf Restaurant on first floor

EXECUTIVE SUMMARY

27 Market rate apartments with 17,000sf of retail and 1/2 acre parking lot
Full set of approved right to build plans, 20 story 240 unit apartment building

PROPERTY FACTS

Price £9,045,360
Price Per Unit £335,013
Sale Type Investment
Net Initial Yield 7%
Sale Conditions
1031 Exchange
  • Sale & Leaseback
No. Units 27
Property Type Multifamily
Property Subtype
Apartment
  • General Retail Storefront Retail/Residential
Apartment Style Mid-Rise
Building Class B
Lot Size 0.41 AC
Building Size 65,536 SF
Average Occupancy 93%
Number of Floors 4
Year Built/Renovated 2000/2016
Parking Ratio 1.97/1,000 SF
Opportunity Zone Yes
State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Zoning 015

AMENITIES

UNIT AMENITIES

  • Granite Worktops
  • Fridge
  • Cooker
  • Bath/Shower
  • Views

SITE AMENITIES

  • 24 Hour Access
  • Controlled Access
  • Gym
  • Basketball Court
  • Conference Rooms
  • Lift

UNIT MIX INFORMATION

DESCRIPTION NO. UNITS Avg. Rent.Mo SF
1+1 2 £1,281 1,250
2+2 25 £1,960 1,230 - 1,555
1 of 1
Walk Score®
Very Walkable (83)

PROPERTY TAXES

Parcel Number 311500-104-000-0002-002-001-0000 Improvements Assessment £1,425,398
Land Assessment £492,218 Total Assessment £1,917,616

CONTACT

  • Thomas Hornstein
    Thomas Hornstein

  • Listing ID: 33364210

  • Date on Market: 01/10/2024

  • Last Updated:

  • Address: 220 Herald Pl, Syracuse, NY 13202

The Downtown Syracuse Multifamily Property at 220 Herald Pl, Syracuse, NY 13202 is currently available. Contact Horn Companies for more information.

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