Satra Realty, LLC

1
Satra Realty, LLC
20 Hawley Street, Binghamton, NY 13901
Lot Area 1.72 AcresYear Built and Age 1975 32
years oldBuilding Size 120' x 202Electric
Two sets of three transformers - 3 at 15,000 kwh
each, 3 at 33,000 kwh each.Stories 9Elevators
6 Elevators 4 - 3,500 lb., 2 - 1,200 lb.
Parking 67,500 SF 200 CarsPlumbing
CopperZoning C-2 (Downtown Business
District)Roof Built UpAssessment 1,500,000
(2006)Fire Sprinkler Garage Level OnlyCounty
Tax 11,218 (2006)Foundation and Deckings
Poured ConcreteCity Tax 41,663
(2006)Structural Framing Steel/Masonry in
elevator shaft and bathroomsSchool Tax 49.939
(2006)Cellar/Basement Parking GarageNumber of
on-site parking spaces 200Site Area 1.72 Acres
Description This 166,870 SF/- office building
plus 67,500 SF/- in fully leased parking is
currently 56 occupied. It stretches an entire
block, boasting frontage on four streets. There
are 27 office space leases in place as well as
one vendor and three wireless contracts.
Currently, office rents average 13/SF in a
building which has achieved rents as high as
16/SF. A new tenant, Green Power, will pay for
all electric and heating expenses at the building
up to 500,000 starting January 2008 after they
become operational for their power generator that
will service the building and a portion of the
city. If the annual electric expense is below
500,000, the owner will receive electrical
credits which can be sold on the open market.
Additionally, nearly 100 of the office space is
rolling within the next three years, allowing for
significant upside for an investor. SUNY
Binghamton's need for student housing creates a
tremendous opportunity for a developer assuming a
special permit is approved by the planning
commission. The building is adjacent to the new
27 million SUNY campus extension. The property
also features below grade parking garage with a
200-car capacity. Location The block on Hawley,
Washington, State and Stuart Streets.
For More Information, please contact Alex Halimi
at 607-723-5991 or AHalimi_at_aol.com