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REA
November 29, 2017  

Syracuse Rental Complex on Block

A developer is marketing a 1970s-vintage apartment complex in Syracuse, N.Y.The 716-unit Nob Hill, at 100 Lafayette Road, could attract bids of about $80,000/unit, or $57 million. At that price, the buyer’s initial annual yield would be about 6.5%.Siara Management built the property in phases from 1969 to 1974. The South Euclid, Ohio, company has given the listing to Cushman & Wakefield.The complex encompasses four buildings, with 4-6...


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