{"id":1004176311,"date":"2017-05-11T02:15:57","date_gmt":"2017-05-11T10:15:57","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004176311"},"modified":"2022-12-06T17:29:54","modified_gmt":"2022-12-07T01:29:54","slug":"new-york-office-asset-changes-hands-in-25m-deal","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/new-york-office-asset-changes-hands-in-25m-deal\/","title":{"rendered":"New York Office Asset Changes Hands in $25M Deal"},"content":{"rendered":"<p><em>By Mihaela Coste<\/em><\/p>\n<div id=\"attachment_1004176313\" style=\"width: 305px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/One-Lincoln-Center-Syracuse-N.Y..jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img decoding=\"async\" aria-describedby=\"caption-attachment-1004176313\" data-attachment-id=\"1004176313\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/new-york-office-asset-changes-hands-in-25m-deal\/one-lincoln-center-syracuse-n-y\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/One-Lincoln-Center-Syracuse-N.Y..jpg\" data-orig-size=\"540,550\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"One Lincoln Center, Syracuse, N.Y.\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/One-Lincoln-Center-Syracuse-N.Y..jpg?w=540\" loading=\"lazy\" class=\"wp-image-1004176313 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/One-Lincoln-Center-Syracuse-N.Y..jpg\" alt=\"One Lincoln Center, Syracuse, N.Y.\" width=\"295\" height=\"300\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/One-Lincoln-Center-Syracuse-N.Y..jpg 540w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/One-Lincoln-Center-Syracuse-N.Y..jpg?resize=295,300 295w\" sizes=\"auto, (max-width: 295px) 100vw, 295px\" \/><\/a><p id=\"caption-attachment-1004176313\" class=\"wp-caption-text\">One Lincoln Center, Syracuse, N.Y.<\/p><\/div>\n<p>HFF has recently closed the sale of One Lincoln Center, a 305,594-square-foot Class A office tower located in downtown Syracuse, N.Y. New York City-based real estate company Zamir Equities acquired the property from a private seller for $25.3 million.<\/p>\n<p>Managing Director Rob Rizzi, Associate Director Steven Rutman and Director Michael Oliver of HFF\u2019s New York investment sales team represented the seller and procured the buyer.<\/p>\n<p>One Lincoln Center is located at 110 W. Fayette St., in close proximity to the intersection of interstates 81 and 690, which provide connectivity to the area\u2019s most popular residential neighborhoods. Armory Square and numerous hotels, shopping places and museums as well as Syracuse Federal Building, the Pike Block, City Hall and OnCenter are also nearby. The 17-story asset was built in 1970 and is the tallest building in Syracuse.<\/p>\n<div id=\"attachment_1004176315\" style=\"width: 310px\" class=\"wp-caption alignleft\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/Interior-of-One-Lincoln-Center.jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img decoding=\"async\" aria-describedby=\"caption-attachment-1004176315\" data-attachment-id=\"1004176315\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/new-york-office-asset-changes-hands-in-25m-deal\/interior-of-one-lincoln-center\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/Interior-of-One-Lincoln-Center.jpg\" data-orig-size=\"800,500\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Interior of One Lincoln Center\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/Interior-of-One-Lincoln-Center.jpg?w=800\" loading=\"lazy\" class=\"wp-image-1004176315 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/Interior-of-One-Lincoln-Center.jpg\" alt=\"Interior of One Lincoln Center\" width=\"300\" height=\"188\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/Interior-of-One-Lincoln-Center.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/Interior-of-One-Lincoln-Center.jpg?resize=300,188 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/Interior-of-One-Lincoln-Center.jpg?resize=768,480 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004176315\" class=\"wp-caption-text\">Interior of One Lincoln Center<\/p><\/div>\n<p>The property underwent\u00a0a $10 million renovation in 2016, including a new lobby, common areas, fitness center, conference room, elevator modernization, roof replacement and additional upgrades to the building\u2019s HVAC system, fa\u00e7ade and restrooms. Amenities include an on-site convenience store, a ground-floor restaurant\u00a0and grade level parking.<\/p>\n<p>At the time of the transaction, the asset was 86 percent leased, the tenant roster including JP Morgan Chase, Bond Schoeneck &amp; King PLLC, Cadaret Grant &amp; Co. LLC, Bousquet Holstein, Grossman St. Amour and Arcadis.\u00a0<\/p>\n<p>One Lincoln Center benefits from the $265 million investment in Syracuse\u2019s CBD as part of New York Governor Andrew Cuomo\u2019s $1.5 billion New York Upstate Revitalization Initiative.<\/p>\n<p>Earlier this year, Zamir <a href=\"https:\/\/www.commercialsearch.com\/news\/zamir-enters-pennsylvania-with-30m-acquisition\/\">acquired<\/a> a four-story office asset located in King of Prussia, Pa. for $30.2 million, the company specializing in targeting superior market returns in both undervalued and stabilized real estate assets.<\/p>\n<p><em>Images courtesy of Zamir Equities<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>One Lincoln Center underwent a $10 million renovation in 2016 and was 86 percent leased at the time of the transaction. The 17-story asset was built in 1970 and is the tallest building in Syracuse.<\/p>\n","protected":false},"author":1192,"featured_media":1004176313,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21742,10,21747],"tags":[32792,35469],"class_list":["post-1004176311","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-latest","category-northeast","category-office","tag-hff","tag-zamir-equities"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>New York Office Asset Changes Hands in $25M Deal - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/new-york-office-asset-changes-hands-in-25m-deal\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"New York Office Asset Changes Hands in $25M Deal\" \/>\n<meta property=\"og:description\" content=\"One Lincoln Center underwent a $10 million renovation in 2016 and was 86 percent leased at the time of the transaction. The 17-story asset was built in 1970 and is the tallest building in Syracuse.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/new-york-office-asset-changes-hands-in-25m-deal\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2017-05-11T10:15:57+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-07T01:29:54+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/One-Lincoln-Center-Syracuse-N.Y..jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"540\" \/>\n\t<meta property=\"og:image:height\" content=\"550\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Mihaela Coste\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/new-york-office-asset-changes-hands-in-25m-deal\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/new-york-office-asset-changes-hands-in-25m-deal\\\/\"},\"author\":{\"name\":\"Mihaela Coste\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/84db22c1406ebbb161906ccf4f43d508\"},\"headline\":\"New York Office Asset Changes Hands in $25M Deal\",\"datePublished\":\"2017-05-11T10:15:57+00:00\",\"dateModified\":\"2022-12-07T01:29:54+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/new-york-office-asset-changes-hands-in-25m-deal\\\/\"},\"wordCount\":317,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/new-york-office-asset-changes-hands-in-25m-deal\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2017\\\/05\\\/One-Lincoln-Center-Syracuse-N.Y..jpg\",\"keywords\":[\"HFF\",\"Zamir Equities\"],\"articleSection\":[\"Deals\",\"News\",\"Northeast\",\"Office\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/new-york-office-asset-changes-hands-in-25m-deal\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/new-york-office-asset-changes-hands-in-25m-deal\\\/\",\"name\":\"New York Office Asset Changes Hands in $25M Deal - 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