Chenango Place Student Living 7-9 Court St
48 Unit Apartment Building For Sale Binghamton, NY 13901
INVESTMENT HIGHLIGHTS
- Sprawling, unobstructed waterfront complex
- Amenities: cinema room, fitness center, computer lab, high-speed Internet, quality apartment finishes, lounge, full service leasing & management offic
- 176 Beds over 48 units featuring 6,000+ square feet of retail space
EXECUTIVE SUMMARY
Lee & Associates is pleased to present for sale the student-housing asset located at 7-9 Court Street (aka Chenango Place). Redeveloped in 2014, Chenango Place boasts nearly 100,000 square feet of Class-A, off-campus housing, which services the SUNY Binghamton student population. The property is located in the core of downtown Binghamton, offering 176 beds to the most desirable submarket in the city. Ownership has strategically positioned the asset to deliver a premium living experience at a slight discount to top-of-market rents, resulting in consistent occupancy rates above 95%. The building consists of floor plans ranging from studios to six-bedrooms, top-tier amenity spaces, and high-quality apartment finishes. The property represents the opportunity to acquire a core asset at the most dynamic university in the SUNY system.
PROPERTY FACTS
| Sale Type | Investment |
| No. Units | 48 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.79 AC |
| Building Size | 97,574 SF |
| No. Stories | 4 |
| Year Built/Renovated | 1965/2014 |
UNIT AMENITIES
- Dishwasher
- Washer/Dryer
- Heating
- Kitchen
- Oven
- Stainless Steel Appliances
- Range
- Tub/Shower
SITE AMENITIES
- 24 Hour Access
- Business Center
- Fitness Center
- Laundry Facilities
- Picnic Area
- Waterfront
- Gameroom
- Media Center/Movie Theatre
- On-Site Retail
- Wi-Fi
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 3 | - | 1 |
| 2+0 | 4 | - | 1 |
Walk Score®
Walker's Paradise (90)
Bike Score®
Very Bikeable (75)
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $4,745,000 | |
| Land Assessment | $160,600 | Total Assessment | $4,905,600 |
ZONING
| Zoning Code | N/A (Mixed-Use Downtown Row) |
