Van Buren Rd, LLC purchased the 18-unit complex from 309 Driscoll, LLC. The property is located on nearly two-thirds of an acre at 309 Driscoll Ave. in the village of Solvay.
Richard L. Will, president of Syracuse–based Hemisphere Holdings Corp., brokered the sale of this apartment complex, which closed on March 22. Hemisphere specializes in selling multi-family apartment buildings across upstate New York.
Will said in an email, announcing the deal, that the buyer is “a seasoned construction company” that is expected to initiate “quality interior upgrades” to the property.
Pathfinder Bank provided an unspecified amount of financing to the buyer.
The 2016 assessment for the Driscoll Manor Apartments property was $539,000, according to Onondaga County online property records. The full market value was listed as $589,071.
The property had previously been sold for $815,000 in August 2016.
Contact The Business Journal New Network at news@cnybj.com
Photo credit: Hemisphere Holdings
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