CBRE closed the sale of a three-property, historically preserved portfolio, including 32 residential apartments and five commercial spaces, located in Watkins Glen and Montour Falls in upstate New York’s Schuyler County. Capriotti Properties acquired the portfolio from Nelson Development.
The CBRE team of Richard Gatto, Fahri Ozturk, Zach McHale and Matthew Loscalzo spearheaded the marketing campaign for the residential portfolio and represented the seller. CBRE also procured the buyer.
“This unique collection of properties is a direct reflection of the vision and tireless effort of Nelson Development to create livable spaces that are modern and sleek, while also paying homage to the buildings’ storied past,” said Gatto. “The portfolio has consistently experienced high leasing demand and will continue to perform extremely well for years to come.”
The residential portfolio includes Montour House, The Flats on Broadway and Water Works Center, all within a six-minute drive of each other.
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