Douglas Jemal Acquires Office Building In Downtown Syracuse For $5.9M

The office building located at 101 S. Salina St in Downtown Syracuse, NY has been sold in a closed transaction. The property, owned by M&T Bank Corp., was purchased by Douglas Jemal of Douglas Development for a total asking price of $5,900,000. The building spans approximately 205,240 square feet, resulting in a price per square foot of $28.

Summary of transaction details

• Property Type: Office
• Transaction Amount: $5,900,000
• Address: 101 S. Salina St, Downtown Syracuse, NY
• Market: Downtown Syracuse, NY
• Square Footage: 205,240
• Price per Square Foot: $28

As per plans by Douglas Jemal of Douglas Development, the building will undergo a transformation into a mix of residential, retail, and office spaces. The estimated cost for this redevelopment is expected to range between $20-30 million.