CBRE Facilitates Sale of Historically Preserved Residential Portfolio in Upstate New York
CBRE has completed the sale of a three-property, historically preserved portfolio located in Schuyler County, New York. The portfolio, comprising 32 residential apartments and five commercial spaces, is situated in the towns of Watkins Glen and Montour Falls. Capriotti Properties acquired the portfolio from Nelson Development.
The CBRE team—consisting of Richard Gatto, Fahri Ozturk, Zach McHale, and Matthew Loscalzo—led the marketing efforts for the portfolio and represented the seller. CBRE also secured the buyer in the transaction.
“This unique collection of properties is a direct reflection of the vision and tireless effort of Nelson Development to create livable spaces that are modern and sleek, while also paying homage to the buildings’ storied past,” said Gatto. “The portfolio has consistently experienced high leasing demand and will continue to perform extremely well for years to come.”
The portfolio includes Montour House, The Flats on Broadway, and Water Works Center, all located within a six-minute drive of each other.
