Updated Dec 8, 2025
Skinner Properties Secures $4.5M Construction Loan From The Community Preservation Corporation For Multifamily Complex
3020 James Street
$4,500,000
Units
28
Asset Type
MultiFamily
Closing
Dec 5, 2025
About this deal
AI
The property asset involved in this transaction is a multifamily rental complex located at 3020 James Street, Syracuse. The site, formerly the William Howard Taft School, is undergoing conversion to feature 28 residential units. The construction loan provided for this project amounts to $4,500,000, aimed at financing the redevelopment efforts.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $4,500,000
- Lender: The Community Preservation Corporation (CPC)
- Landlord: Skinner Properties
- Loan Type: Construction
The key individuals involved in this transaction include Skinner Properties as the landlord, while The Community Preservation Corporation (CPC) acts as the lender providing the construction financing for the redevelopment project.
On the Map
$4,500,000
MultiFamily
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Players
Syracuse MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.53%
Cash-on-Cash
-1.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93