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605-609 E Fayette St
Syracuse, NY 13202
DOWNTOWN/UNIVERSITY HOTEL/RESIDENTIAL SITE · Land For Sale
·
0.57 AC
INVESTMENT HIGHLIGHTS
- Ideally situated between University Hill and Downtown Syracuse
- MX-5 Zoning allows for maximum density for development
- Adjacent Land (Under I-81 Viaduct to be removed) is NYS owned and will expand future potential development lot to over 2 acres
- New public incentives for the creation of new housing units.
EXECUTIVE SUMMARY
Property sits next to the soon-to-be demolished I-81 Viaduct that will open up additional contiguous development land in excess of 2 acres!
Area has seen tremendous growth over the last 5 years including 100's of new apartments offering a central location and easy access to the vibrant Downtown Syracuse market as well Syracuse University and the three major area Hospitals.
New zoning in place allows for the maximum development under MX-5 designation that incentivizes new housing construction.
PROPERTY FACTS
| Sale Type | Investment or Owner User | Proposed Use | |
| No. Lots | 1 | Total Lot Size | 0.57 AC |
| Property Type | Land | Opportunity Zone |
Yes
|
| Property Subtype | Residential | ||
| Zoning | MX-5 | ||
| Sale Type | Investment or Owner User |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Residential |
| Proposed Use | |
| Total Lot Size | 0.57 AC |
| Opportunity Zone |
Yes |
| Zoning | MX-5 |
1 LOT AVAILABLE
Lot
| Price | $1,791,140 CAD | Lot Size | 0.57 AC |
| Price Per AC | $3,142,350.85 CAD |
| Price | $1,791,140 CAD |
| Price Per AC | $3,142,350.85 CAD |
| Lot Size | 0.57 AC |
Property abuts a large NYS-state owned parcel that would increase the total development parcel to over 2 acres. The NYS State land will be available in 2026 when I-81 viaduct is removed as part of $2 billion infrastructure project.
DESCRIPTION
CENTRAL SYRACUSE DEVELOPMENT SITE at the crossroads of Downtown Syracuse and University Hill. Property sits next to the soon-to-be demolished I-81 Viaduct that will open up additonal contiguous development land in access of 2 acres! Area has seen tremendous growth over the last 5 years including 100's of new apartments offering a central location and easy access to the vibrant Downtown Syracuse market as well Syracuse University and the three major area Hospitals. New zoning in place allows for the maximum development under MX-5 designation that incentivizes new housing construction.
PROPERTY TAXES
| Parcel Number | 311500-103-000-0024-001-000-0000 | Improvements Assessment | $0 CAD |
| Land Assessment | $224,602 CAD | Total Assessment | $224,602 CAD |
PROPERTY TAXES
