Syracuse, N.Y. — New owner plans upgrades to community.
Syracuse, N.Y. — Clarendon Heights Apartments, a 256-unit apartment community near the Syracuse University campus has sold. Louis Fournier, president of The Sutton Companies and Gail McDonough, senior vice president of Colliers International, represented the seller in the transaction.
Clarendon Heights is a garden style project originally built in the 1970s and renovated in the late 1980s. Tenants include graduate students from Syracuse University, Upstate Medical University and working professionals.
The new ownership group is from Cortland, N.Y., and has hired DLH Properties to manage the project. DLH manages several other apartment communities in the Syracuse area. The new owner plans to replace roofs, re-pave and upgrade apartment interiors.
“Sutton has managed this property since 1989,” Fournier said. “During this period, Clarendon has had a history of strong occupancy, primarily due to its proximity to the university area and downtown Syracuse. We were pleased to be involved with the property for as long as we were and are happy we were able to match the buyer and seller so quickly. The property was on the market for less than 60 days.”