BINGHAMTON, N.Y. — Binghamton’s MetroCenter, an office building at 49 Court Street, has new owners.
Justin and Bernard Marchuska of Marchuska Brothers Construction LLC purchased the property for $3.2 million in March, Pyramid Brokerage Co. said in a news release issued Wednesday.
Pyramid Brokerage represented the seller in the transaction. The property record on the website of Broome County Real Property Tax Services lists the owner as CCMS 2005-CD 1 Bing LLC of Miami Beach, Florida.
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The commercial real estate market has been rough for some time, and the residential market has seen wild fluctuations. Inflation, high interest rates and decreased demand for office space have
Pyramid describes the MetroCenter as a 116,000-square-foot, multi-tenant office building in Binghamton’s central-business district.
John Current, MetroCenter’s property manager, and William Colucci, associate real-estate broker, worked with the landlord for the last five years to “turn the underperforming asset into a turn-key investment property,” the release stated. Pyramid Brokerage was assigned the property-management project in May 2012, the firm said.
The venue had 97 percent occupancy at the time of the sale.
Contact Reinhardt at ereinhardt@cnybj.com
PHOTO CAPTION: Pyramid Brokerage Company says Justin and Bernard Marchuska of Marchuska Brothers Construction LLC in March bought the 116,000-square-foot MetroCenter at 49 Court St. in downtown Binghamton for $3.2 million. Pyramid Brokerage represented the seller — an ownership entity in Miami Beach, Florida. (Photo credit: Pyramid Brokerage)
