SYRACUSE, NY — Cushman & Wakefield and Pyramid Brokerage Company have arranged the sale of Nob Hill Apartments, a 761-unit multifamily complex located at 100 Lafayette Rd. in Syracuse. The asset, which traded for $58.5 million, was acquired by a New York State based investor in joint venture with two equity partners.
Pyramid Brokerage Company’s Robert Scherreik, CCIM, SIOR, MCR and John Clark, SIOR, CRE along with Cushman & Wakefield’s East Rutherford-based Capital Markets team of Andrew Merin, David Bernhaut, Gary Gabriel, Brian Whitmer, and Ryan Dowd, procured the buyer and represented the seller in the transaction.
Nob Hill is one of the largest apartment complexes in Syracuse, ideally located just minutes from major commuting corridors, the Syracuse Central Business District, Syracuse University and the area’s largest employer, SUNY Upstate Medical University. New ownership plans to implement a renovation and updating initiative.