NEW YORK--(BUSINESS WIRE)--Zamir Equities has successfully completed the acquisition of One Lincoln Center, 110 West Fayette Street, in the heart of Syracuse, New York’s, Downtown Central Business District (CBD).
Built in 1970, One Lincoln Center is a 305,594-square foot, multi-tenanted, Class A, office building, within proximity to the Federal Building, County Courthouse, Civic and Convention Center, and steps from trendy Armory Square. One Lincoln Center recently experienced a $10 million renovation, including a new lobby, common area upgrades, fitness center, start of the art conference center, elevator modernization, roof replacement, and additional major upgrades, including the building’s HVAC/Mechanical, sidewalk, façade, and restrooms. With credit-grade tenants, and long-term leases, One Lincoln Center is anchored by Bond, Schoeneck & King Law Firm; Arcadis; Bousquet & Holstein Law Firm; Grossman-St. Armour CPAs; CadaretGrant; and JPMorgan Chase.
“This is our first commercial real estate investment in Syracuse, and we are pleased to become an active part of Syracuse’s CBD renaissance,” said Asher Zamir, Founder and Chairman, Zamir Equities. “As part of New York Governor Andrew Cuomo’s $1.5-billion New York Upstate Revitalization Initiative (URI), One Lincoln Center will also benefit from the $265 million investment in Syracuse’s CBD. Coupled with the 30% growth in downtown Syracuse’s millennial population and a shrinking CBD office stock, we believe our One Lincoln Center acquisition will prove to be sound and worthwhile.”
Syracuse Mayor, Stephanie Miner, was ecstatic about the Zamir Equities’ acquisition. “One Lincoln Center is at the crossroads of the City of Syracuse and Central New York. I am pleased that Zamir is investing in Syracuse, and look forward to collaborating with them to further enhance our resurging downtown community."
One Lincoln Center is one of the tallest building in Syracuse located in the heart of downtown Syracuse. Adjacent to the proposed $3 million-renovated Perseverance Park, the building is only several blocks from the Museum of Science and Technology, one mile from Syracuse University, and eight miles from Hancock International Airport. The asset sits close to the Federal building, Syracuse City Courts, the Justice Center, and St. Joseph’s Hospital.
One Lincoln Center tenants enjoy access to, a brand-new conference center, fitness center, a newly finished outdoor putting green, and a ground-floor eatery (Darwin’s) with full catering capabilities and the well-equipped onsite newsstand and convenience store.
About Zamir Equities
Founded by Asher Zamir in 2003, Zamir Equities is a privately held New York City-based, integrated real estate private equity firm. Currently, Zamir Equities cumulatively owns and manages in excess of $300 million worth of properties, encompassing more than 2.1 million square feet. Recognized for their astute acquisition proficiency, along with unparalleled real estate management, leasing and marketing experience, Zamir Equities specializes in risk-adjusted market returns in both undervalued and stabilized real estate assets. Zamir Equities is headquartered in the heart of midtown Manhattan in the Fred F. French Building, a magnificent 38-story art deco building erected in 1927, and listed on the U.S. National Register of Historic Places.