{"id":15507,"date":"2025-08-05T16:51:12","date_gmt":"2025-08-05T21:51:12","guid":{"rendered":"https:\/\/1reason.com\/re\/downtown-binghamton-multifamily-property-heads-to-auction-august-11-13\/15507\/"},"modified":"2025-08-06T11:51:13","modified_gmt":"2025-08-06T16:51:13","slug":"downtown-binghamton-multifamily-property-heads-to-auction-august-11-13","status":"publish","type":"post","link":"https:\/\/1reason.com\/re\/downtown-binghamton-multifamily-property-heads-to-auction-august-11-13\/15507\/","title":{"rendered":"Downtown Binghamton Multifamily Property Heads to Auction August 11\u201313"},"content":{"rendered":"
The property will be sold through a Ten-X online auction, scheduled for August 11\u201313, 2025<\/strong>, with a starting bid of $400,000<\/strong>. <\/p>\n

Originally built in 1926 and fully renovated in 2016, the 12,544-square-foot building features 18 residential units<\/strong>, with 11 currently leased and stabilized<\/strong>, providing immediate rental income and long-term upside. The asset is ideally positioned within Binghamton\u2019s Center City<\/strong>\u2014walking distance to restaurants, breweries, shops, and public amenities, and just minutes from Route 17\/I-86 and I-81<\/strong>.<\/p>\n

Located less than two miles from Binghamton University, which serves more than 18,000 students, the property sits in a supply-constrained submarket with a 4.6% vacancy rate<\/strong> and strong year-over-year rent growth. The building features modern enhancements, including individual HVAC and utility meters for each unit<\/strong>, automatic entry locks<\/strong>, a full sprinkler system<\/strong>, and elevator access<\/strong>. It is also eligible for historic tax credits<\/strong>, enhancing its investment potential.<\/p>\n

\u201cThis is a rare opportunity to acquire a well-located, partially leased asset in a market with strong fundamentals and limited new development,\u201d said Scott Warren, Managing Director of SVN Innovative Commercial Advisors. \u201c257 Washington Street offers both immediate cash flow and strategic value-add potential.\u201d<\/p>\n

The auction will be conducted exclusively on Ten-X.com, with due diligence materials, property information, and registration details available online.<\/p>\n

For additional information or to schedule a tour, contact:<\/p>\n

SVN Innovative Commercial Advisors<\/strong>
Office:<\/strong> (607) 203-1826
svninnovative@svn.com
www.svninnovative.com<\/a><\/u><\/p>\n

A photo accompanying this announcement is available at https:\/\/www.globenewswire.com\/NewsRoom\/AttachmentNg\/524e6ad3-f940-43f4-902e-7bc5661a4ea9<\/a><\/p>\n

\"\"<\/div>\n","protected":false},"excerpt":{"rendered":"

\n

257 Washington Street to be Offered via Ten-X Online Platform<\/p>\n

\"257<\/p>\n

BINGHAMTON, N.Y., July 21, 2025 (GLOBE NEWSWIRE) — SVN Innovative Commercial Advisors is pleased to announce the upcoming auction of 257 Washington Street, a centrally located, income-producing multifamily asset in the heart of Binghamton, New York.<\/p>\n<\/div>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"","sticky":false,"template":"","format":"standard","meta":[],"categories":[11],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/15507"}],"collection":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/comments?post=15507"}],"version-history":[{"count":1,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/15507\/revisions"}],"predecessor-version":[{"id":15509,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/15507\/revisions\/15509"}],"wp:attachment":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/media?parent=15507"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/categories?post=15507"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/tags?post=15507"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}