Development in and Around Syracuse Discussion

[OttoMets]

These guys also bought the former Davis College in Johnson City, NY (Binghamton) from Adam Weitzman.

Davis College buyers arrested for January 6th insurrection

He probably would've joined them for the insurrection but he was too busy playing with his phone.

 

[KellySyracuse]

These guys also bought the former Davis College in Johnson City, NY (Binghamton) from Adam Weitzman.

Davis College buyers arrested for January 6th insurrection

Hmmm, $4.5 million for Davis College and $3.4 million for the Snowden and that isn't all of the properties they are or have purchased. Who is are the financiers for these projects?

"Two of the new owners are brothers from Dutchess County who are facing federal charges in connection with the Jan. 6, 2021, riot at the U.S. Capitol. One of those brothers, Gregory Purdy, 25, says he’s no longer concerned with politics. He and his brother, Matthew, 24, have pleaded not guilty to charges.
Now, they say they want to rebuild the Snowdon. Gregory Purdy and another new owner, Ryan Blakley, 29, have already moved into the Snowdon

The other members of the investment group are Juan Contreras, 31, Nick Scancarello, 21, and Amanda Laryea, 25. They, along with the Purdy brothers, are members of Birchwood Management Group, a real estate investment company."

 

[shandeezy7]

Hmmm, $4.5 million for Davis College and $3.4 million for the Snowden and that isn't all of the properties they are or have purchased. Who is are the financiers for these projects?

"Two of the new owners are brothers from Dutchess County who are facing federal charges in connection with the Jan. 6, 2021, riot at the U.S. Capitol. One of those brothers, Gregory Purdy, 25, says he’s no longer concerned with politics. He and his brother, Matthew, 24, have pleaded not guilty to charges.
Now, they say they want to rebuild the Snowdon. Gregory Purdy and another new owner, Ryan Blakley, 29, have already moved into the Snowdon

The other members of the investment group are Juan Contreras, 31, Nick Scancarello, 21, and Amanda Laryea, 25. They, along with the Purdy brothers, are members of Birchwood Management Group, a real estate investment company."

And that link to their business website takes you to a Wix website that has not been set up yet. All very strange.

 

[Fly Rodder]

I'm sure totally on the up and up.

ETA: a quick google search of their names leads me to some LinkedIn accounts that give off a stink of get rich quick hustle culture bros. Not sure where a bunch of kids are getting their capital to buy a bunch of distressed real estate.

 

[KellySyracuse]

I'm sure totally on the up and up.

It all is pretty damn odd, I wonder if Syracuse.com is going to do a deeper dive into it but likely not.

 

[Fly Rodder]

FBI: New York Men ‘Bum-Rushed’ Cops During Capitol Hill Riot

Federal agents have arrested two New York men accused of “bum-rushing” cops during the Jan. 6 riot on Capitol Hill.

coffeeordie.com

 

[Fly Rodder]

We jumped into the Luxery market and started working a many multimillion dollar homes.

In 2021 we franchised Premier and started a location down in Miami, Florida with a heavy emphasis on the Luxery market.

Check out our upcoming new TV Series “Tales of a Hustler” a show dedicated to bringing like minded entrepreneurs together.

https://www.linkedin.com/in/gregory-purdy-b7285a237/

 

[JoeCollege]

Hmmm, $4.5 million for Davis College and $3.4 million for the Snowden and that isn't all of the properties they are or have purchased. Who is are the financiers for these projects?

"Two of the new owners are brothers from Dutchess County who are facing federal charges in connection with the Jan. 6, 2021, riot at the U.S. Capitol. One of those brothers, Gregory Purdy, 25, says he’s no longer concerned with politics. He and his brother, Matthew, 24, have pleaded not guilty to charges.
Now, they say they want to rebuild the Snowdon. Gregory Purdy and another new owner, Ryan Blakley, 29, have already moved into the Snowdon

The other members of the investment group are Juan Contreras, 31, Nick Scancarello, 21, and Amanda Laryea, 25. They, along with the Purdy brothers, are members of Birchwood Management Group, a real estate investment company."

Hopefully it will all come out in the "wash" and the Tide will be reversed in a Cascade of events that will help democracy Bounce back, for which we'll All Cheer. If you know what I mean.

 

[JoeCollege]

It all is pretty damn odd, I wonder if Syracuse.com is going to do a deeper dive into it but likely not.

I hope they do, because the Binghamton Press/pressconnects.com certainly do not have the interest, skill, or ability to do so any longer. That ship sank years ago.

 

[Fly Rodder]

https://www.linkedin.com/in/juan-contreras-a5686a182/

Juan is also a managing member of a multi-million dollar hedge fund that is seeking to consistently deploy capital into profitable real estate opportunities, which provide 1st position and 2nd position bridge and long-term funding

 

[OttoMets]

I'm sure totally on the up and up.

ETA: a quick google search of their names leads me to some LinkedIn accounts that give off a stink of get rich quick hustle culture bros. Not sure where a bunch of kids are getting their capital to buy a bunch of distressed real estate.

My gut agrees.

I will say, though, that the general understanding is that this property was cash-flowing like there's no tomorrow. It's been owned by the same family for decades, I've never seen any specifics about financials, but the assumption was that gross potential rent was approaching a million a year. Maybe they convinced an equity investor to jump with the promise of steady returns.

 

[Fly Rodder]

My gut agrees.

I will say, though, that the general understanding is that this property was cash-flowing like there's no tomorrow. It's been owned by the same family for decades, I've never seen any specifics about financials, but the assumption was that gross potential rent was approaching a million a year. Maybe they convinced an equity investor to jump with the promise of steady returns.

Which, wow! But that doesn't explain where they got their cash for a former bible college that they're supposedly going to turn into an "AI university" whatever the hell that is.

Their nominal CEO is a 23 yo SUNY Oneonta grad with a chinstrap beard, their "hedge fund manager" partner doesn't list a college on his thin Linkedin profile, the other kid used to sell flooring and did a year a Liberty U (explains the insurrectionist bent). Another one doesn't list a college. If banks and private equity are throwing that kind of money at a grab bag of inexperienced hustle bros, I need to quit my job and start an REIT.

 

[shandeezy7]

Former Sibley’s Department Store in Syracuse reopens as office building with over 200 workers

City Center brings new life to the long-vacant downtown building.

www.syracuse.com

 

[KellySyracuse]

well that didn't take long

Man stabbed multiple times at Snowdon Apartments in Syracuse, police say

"Syracuse, N.Y. — A man was injured early Thursday morning when he was stabbed multiple times in an apartment at the Snowdon, police said.

Around 2:04 a.m., officers responded to the 100 block of E. Water Street for a stabbing call, said Lt. Matthew Malinowski, a Syracuse police spokesperson. When officers arrived, they found the man with stab wounds to his upper body and head, he said.

The 31-year-old man was found less than a mile away from the Snowdon Apartments building at 400 James Street where he told police he was stabbed. He was taken to Upstate University Hospital and is expected to survive, Malinowski said."

 

[KellySyracuse]

This makes me so sad, it was a great local for me and their beers were pretty damn good. I am holding out hope that they move down the street into the old UBU Brewery they purchased a few years ago as I'm guessing their lease at this place got to be too expensive. They just opened a cigar shop in front of the brewery too, what a damn shame.

A Central New York craft brewery is closing. ‘It was challenging and rewarding,’ owners say

The brewery will close Nov. 22

www.syracuse.com

"A brewery and taproom that opened in North Syracuse during the height of the craft beer boom in 2016 is closing this fall.

Full Boar Craft Brewery and Taproom will close Nov. 22, owners Eric Petranchuk and David Marchant announced today on social media. The brewery / taproom is located in a plaza at 628 S. Main St. (Route 11) just north of Taft Road.

“In our final month we invite you to come have one last beer with us and celebrate the legacy of Full Boar,” the owners said in the social media message to their customers. “Use your gift cards, grab some Full Boar merchandise, and share your favorite memories of the brewery. ... In the words of the Dropkick Murphys, we are ‘going out in style!’ ”

 

[KellySyracuse]

The Lakeview Amp has a new sponsor, must be Trinity Health didn't want to pony up the money for St. Joe's to keep their name on the placard.

Hello, Empower FCU Amphitheater: Syracuse concert venue’s name sold in 7-year, $4M deal

The newly renamed venue was previously known as St. Joe's Amp and the Lakeview Amphitheater.

www.syracuse.com

"Goodbye, St. Joseph’s Health Amphitheater at Lakeview. So long, Lakeview Amphitheater, “St. Joe’s Amp,” and a handful of other names the Syracuse concert venue has been known by.

Hello, Empower Federal Credit Union Amphitheater at Lakeview. (Or “Empower FCU Amphitheater” for short.)

Onondaga County sold the naming rights to the amphitheater in a 7-year deal worth $4 million, according to Empower Federal Credit Union Chief Marketing Officer Chris Keller. Empower FCU will pay an average of $575,000 a year to put its name on the Amp through 2030, Keller told syracuse.com | The Post-Standard."

 

[shandeezy7]

Didn't notice this on my trip to Syracuse this past weekend:

Downtown Syracuse, here we come! | Hueber Breuer Construction

Downtown Syracuse, here we come! Have you spotted the new sign spotlighting our downtown hub yet? It looks great both day and night! | 19 comments on LinkedIn

www.linkedin.com

 

[Cheriehoop]

Didn't notice this on my trip to Syracuse this past weekend:

Downtown Syracuse, here we come! | Hueber Breuer Construction

Downtown Syracuse, here we come! Have you spotted the new sign spotlighting our downtown hub yet? It looks great both day and night! | 19 comments on LinkedIn

www.linkedin.com

I went to grammar, high school with some Huebers. They were very nice people, little older than me so they would be retired by now. They built our high school gym and cafeteria.

 

[Cusefan0307]

How Micron is building the biggest chip fab in U.S. history despite a China ban and smartphone slump

Micron is the only company making memory in the U.S. That's made it a target in the chip war with China, but it's still building the country's biggest chip fab.

www.cnbc.com

 

[shandeezy7]

Anyone want a Sears kit home? Beautiful rehab:

House of the Week: Syracuse Sears kit home has been ‘rescued’ following extensive renovation

Joe Stickle and his team have given the Sears kit home from 1928 at 116 Parsons Drive in Syracuse a second life.

www.syracuse.com

116 Parsons Dr, Syracuse, NY 13219 | Zillow

116 Parsons Dr, Syracuse NY, is a Single Family home that contains 1554 sq ft and was built in 1928.It contains 3 bedrooms and 2 bathrooms.This home last sold for $325,000 in March 2024. The Zestimate for this Single Family is $364,200, which has increased by $4,400 in the last 30 days.The...

www.zillow.com

 

[Cowtown]

"Just before 11 p.m. Nov. 5, police responded to an area in northern Syracuse after receiving a ShotSpotter notification, which is a gunshot detection sensor used by law enforcement."

Anyone else know about this?

Man tracks down relative’s stolen car and shoots three teen girls inside, NY cops say

A 16-year-old was taken to a hospital in critical condition, Syracuse officials said

news.yahoo.com

 

[shandeezy7]

"Just before 11 p.m. Nov. 5, police responded to an area in northern Syracuse after receiving a ShotSpotter notification, which is a gunshot detection sensor used by law enforcement."

Anyone else know about this?

Man tracks down relative’s stolen car and shoots three teen girls inside, NY cops say

A 16-year-old was taken to a hospital in critical condition, Syracuse officials said

news.yahoo.com

Yes they've been using it for a number of years now.

Report: ShotSpotter wastes officers time, provides little help in court, targets overpoliced communities

Syracuse police and the DA's office disagree, saying the technology is a tool that helps them locate shootings, find criminals and convict people.

www.syracuse.com

 

[Cowtown]

Yes they've been using it for a number of years now.

Report: ShotSpotter wastes officers time, provides little help in court, targets overpoliced communities

Syracuse police and the DA's office disagree, saying the technology is a tool that helps them locate shootings, find criminals and convict people.

www.syracuse.com

Bet it helps keep US law enforcement agencies pretty busy.

 

[KellySyracuse]

This is fairly big news, losing the hotel space on the hill.

Syracuse University’s Sheraton Hotel to be converted into 400-bed student dormitory

The decision comes as need for student housing grows on campus, university officials said.

www.syracuse.com

"Syracuse, N.Y. — Syracuse University officials on Wednesday announced the Sheraton Hotel will be converted into a nearly 400-bed residence hall.

This decision comes as the need for more student housing grows, university officials said. A three-year housing study showed undergraduate students wanted more options for on-campus housing, they said.
The hotel will close after commencement in 2024. The new dorm is expected to open in the fall that same year."

 

[Fly Rodder]

Is enrollment growing? Haven't developers built like 4,000 apartments up there in the last 10 years? I didn't think they needed more SU residence halls.