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SPG Downtown Proximity Portofolio 2 Multifamily Properties Offered at $10,633,625 CAD in Binghamton, NY
INVESTMENT HIGHLIGHTS
- Eleven properties positioned along Oak, Chapin, and Front Streets, offering walkable access to Binghamton University’s Downtown Center, retail, and em
- Professional management in place at a 5 percent rate, providing efficient oversight, continuity, and immediate scalability.
- Consistent tenant demand supported by more than 18,000 students and fewer than 7,600 on-campus beds, ensuring reliable year-round leasing.
- Located within an expanding downtown corridor benefitting from university investment, healthcare growth, and ongoing redevelopment activity.
EXECUTIVE SUMMARY
The Downtown Proximity Portfolio includes 11 buildings positioned along Oak, Chapin, and Front Streets in Binghamton, New York. Just beyond the downtown core, these assets combine the convenience of central access with the stability of established neighborhoods. Residents are steps from Binghamton University’s Downtown Center, the SUNY bus line, and the city’s growing base of employers, retailers, and entertainment.
Each property is located within an R3 zoning district, ensuring continued use for student housing and long-term operational security. The portfolio’s scale and concentration create management efficiencies and dependable occupancy, supported by Binghamton University’s enrollment of more than 18,000 students and fewer than 7,600 on-campus beds.
With consistent rent growth, professional management in place at a 5 percent rate, and strong in-place income, the Downtown Proximity Portfolio offers investors a strategic position in one of Binghamton’s most active submarkets. Few opportunities provide this level of stability, scale, and proximity to both university and downtown growth corridors, making it a rare chance to secure lasting value in a market on the rise.
Each property is located within an R3 zoning district, ensuring continued use for student housing and long-term operational security. The portfolio’s scale and concentration create management efficiencies and dependable occupancy, supported by Binghamton University’s enrollment of more than 18,000 students and fewer than 7,600 on-campus beds.
With consistent rent growth, professional management in place at a 5 percent rate, and strong in-place income, the Downtown Proximity Portfolio offers investors a strategic position in one of Binghamton’s most active submarkets. Few opportunities provide this level of stability, scale, and proximity to both university and downtown growth corridors, making it a rare chance to secure lasting value in a market on the rise.
DATA ROOM Click Here to Access
- Offering Memorandum
PROPERTY FACTS
| Price | $10,633,625 CAD | Number of Properties | 2 |
| Price / SF | $688.66 CAD / SF | Individually For Sale | 1 |
| Cap Rate | 7.66% | Total Building Size | 15,441 SF |
| Sale Type | Investment | Total Land Area | 0.48 AC |
| Status | Active |
| Price | $10,633,625 CAD |
| Price / SF | $688.66 CAD / SF |
| Cap Rate | 7.66% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 1 |
| Total Building Size | 15,441 SF |
| Total Land Area | 0.48 AC |
PROPERTIES
| PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | YEAR BUILT | INDIVIDUAL PRICE |
|---|---|---|---|---|
| 136 Chapin St, Binghamton, NY 13905 | Multifamily | 8,460 SF | 1970 | $1,290,335 CAD |
| 151 Front St, Binghamton, NY 13905 | Multifamily | 6,981 SF | 1850 | - |
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CONTACTS
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Scott Warren -
James Lucenti -
Chelsea Smith -
SVN | Innovative Commercial Advisors
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SPG Downtown Proximity Portofolio
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