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Downtown Multifamily With Upside 90 Henry St 26 Apartment Units Online Auction Sale Binghamton, NY 13901
Investment Highlights
- Well-maintained 26-unit studio apartment building in the Stadium District, serving Binghamton University students and professionals.
- Outstanding proximity to Binghamton University, a top-ranked New York public institution with more than 18,000 students, drives strong rental demand.
- Area enjoys investment appeal and robust rental demand within a 2-mile radius, where 61% of households are renter-occupied.
- Walkable downtown location, surrounded by local businesses, breweries, bars, and specialty retail, ideal for attracting tenants.
- Tenants benefit from a prime central location with fast access to Route 17 and Interstates 86 and 81, enhancing convenience and lifestyle appeal.
Executive Summary
90 Henry Street stands out as a compelling multifamily investment opportunity with immediate income and long-term upside.
This 26-unit studio apartment building offers a rare chance to acquire a stabilized asset in Binghamton’s emerging Stadium District, an area benefiting from ongoing public and private investment. Spanning 35,000 square feet across three stories, the property features efficiently designed units of approximately 300 square feet each, creating a practical layout for residents and a straightforward operating model for ownership. Well-maintained and secure, the building also includes a central boiler system that supports ease of management. With the property currently 92% occupied, only two units vacant, and rental applications already in process, it delivers strong in-place cash flow with clear evidence of continued tenant demand.
Positioned in Binghamton’s Stadium District, 90 Henry Street benefits from a location that continues to support strong rental demand and long-term investment appeal. The property sits within walking distance of SUNY bus lines, the Downtown Binghamton Transit Center, and a wide mix of restaurants, retail, banking, and entertainment, giving residents the convenience they want and ownership the marketability it needs. Its close proximity to Binghamton University and the city’s expanding downtown academic presence helps drive a steady renter pool that includes students, young professionals, and workforce tenants. In a market where location plays a major role in performance, this asset is well placed to capture reliable demand today while remaining positioned for future growth.
With stable occupancy, strong demand, and future upside, this property offers investors current income, value-add potential, and long-term appreciation.
Property tours are available by appointment only. Please contact the listing broker to schedule.
This 26-unit studio apartment building offers a rare chance to acquire a stabilized asset in Binghamton’s emerging Stadium District, an area benefiting from ongoing public and private investment. Spanning 35,000 square feet across three stories, the property features efficiently designed units of approximately 300 square feet each, creating a practical layout for residents and a straightforward operating model for ownership. Well-maintained and secure, the building also includes a central boiler system that supports ease of management. With the property currently 92% occupied, only two units vacant, and rental applications already in process, it delivers strong in-place cash flow with clear evidence of continued tenant demand.
Positioned in Binghamton’s Stadium District, 90 Henry Street benefits from a location that continues to support strong rental demand and long-term investment appeal. The property sits within walking distance of SUNY bus lines, the Downtown Binghamton Transit Center, and a wide mix of restaurants, retail, banking, and entertainment, giving residents the convenience they want and ownership the marketability it needs. Its close proximity to Binghamton University and the city’s expanding downtown academic presence helps drive a steady renter pool that includes students, young professionals, and workforce tenants. In a market where location plays a major role in performance, this asset is well placed to capture reliable demand today while remaining positioned for future growth.
With stable occupancy, strong demand, and future upside, this property offers investors current income, value-add potential, and long-term appreciation.
Property tours are available by appointment only. Please contact the listing broker to schedule.
Offering Memorandum Click Here to Access
Data Room Click Here to Access
- Offering Memorandum
- Operating and Financials
- Purchase Agreement
Market Analytics Click Here to Access
Property Facts
| Sale Type | Investment | Building Class | C |
| Sale Condition | Auction Sale | Lot Size | 0.16 AC |
| Type of Ownership | Fee Simple | Building Size | 35,000 SF |
| No. Units | 26 | Average Occupancy | 92% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1960 |
| Apartment Style | Low-Rise | Parcel Number | 030200-160-033-0003-006-000-0000 |
| Sale Type | Investment |
| Sale Condition | Auction Sale |
| Type of Ownership | Fee Simple |
| No. Units | 26 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 35,000 SF |
| Average Occupancy | 92% |
| No. Stories | 3 |
| Year Built | 1960 |
| Parcel Number | 030200-160-033-0003-006-000-0000 |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Smoke Free
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Smoke Free
- Smoke Detector
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Moderately walkable
60/100
Exceptionally drivable
90/100
Limited public transit
30/100
Fairly bikeable
50/100
Sale Advisors
Sale Advisors
Scott Warren, CCIM, CRE Team Lic. RE Salesperson, Member NYSCAR
Scott has had a great career in sales and marketing. Scott began a financial services career in 1986. After several years as an agent, field manager, and district manager, he began as a regional sales director for Columbian Mutual Life Insurance Company. He started with the territory of upstate NY and eventually was in charge of the entire Northeast. He then, at a young age, moved into a Corporate Executive position and prior to leaving the company in 2005 was the Second Vice President of Agency Development, handling all home office management for three sales divisions and approximately 16,000 agents. Much of the growth of Columbian Life Insurance Company can be attributed to Scott’s sales and marketing efforts. Scott then began an independent marketing organization, Niche Market Insurers. With the help and much credit going to his two partners, Scott built an independent marketing organization from scratch to one with a nationwide footprint of 7,000 agents and over $5 million dollars a year in new annual premium. This gave Scott a very solid foundation for Investment analysis as well as in sales and marketing. Scott sold his share of the marketing organization to fully involve himself in the commercial real estate field. Starting his career with Pyramid Brokerage Company/Cushman and Wakefield in a very short time Scott made an immediate impact in the Binghamton Market. Scott has been involved in the sale of commercial buildings, a number of investment-based sales, redevelopment projects, and most notably the sale of the Grand Royal Hotel in Downtown Binghamton. Scott currently represents some of the area’s largest investors and developers. Scott has earned certificates through the CCIM Institute in foundations in commercial real estate, financial analysis, reliable valuations, 1031 exchange, and negotiations. Scott is also currently enrolled in and working towards a certificate in commercial real estate from the prestigious Cornell University’s SC Johnson School of business.
James Lucenti, Licensed Real Estate Salesperson
James Lucenti is a licensed real estate salesperson with SVN® Innovative Commercial Advisors, specializing in commercial real estate. With a Masters in School Psychology from Buffalo University and an additional Masters in School Administration, James brings a wealth of knowledge and a strong educational background to his real estate career. With an impressive 24 years of experience in education, he has demonstrated dedication and expertise in helping others achieve their goals.
Prior to his career in commercial real estate, James spent 6 years in residential real estate, gaining valuable experience and insight into the intricacies of the real estate market. Originally from Fairport, NY, he has called the Binghamton area home since 2004. James is a devoted father with two children, and he also has a personal investment in the real estate market, owning a multi-family property in Endwell.
With over six years of experience in residential real estate, James has developed a keen understanding of the industry's dynamics, market trends, and the nuances that can significantly impact property transactions. His hands-on experience, coupled with his educational background, equips him with a unique skill set that benefits his clients in commercial real estate endeavors.
Effective communication is a cornerstone of James's approach, and he actively listens to your unique needs and goals. When you work with James, you benefit from his extensive educational background, years of experience in real estate, and his deep connection to the Binghamton community. His commitment to your success and loyalty to your interests set him apart as a trusted partner in the commercial real estate industry.
Prior to his career in commercial real estate, James spent 6 years in residential real estate, gaining valuable experience and insight into the intricacies of the real estate market. Originally from Fairport, NY, he has called the Binghamton area home since 2004. James is a devoted father with two children, and he also has a personal investment in the real estate market, owning a multi-family property in Endwell.
With over six years of experience in residential real estate, James has developed a keen understanding of the industry's dynamics, market trends, and the nuances that can significantly impact property transactions. His hands-on experience, coupled with his educational background, equips him with a unique skill set that benefits his clients in commercial real estate endeavors.
Effective communication is a cornerstone of James's approach, and he actively listens to your unique needs and goals. When you work with James, you benefit from his extensive educational background, years of experience in real estate, and his deep connection to the Binghamton community. His commitment to your success and loyalty to your interests set him apart as a trusted partner in the commercial real estate industry.
About the Auction Technology
Auctions by Ten-X are the #1 transaction technology powering commercial real estate transactions online. With over $34B in total transactions, these auctions use best-in-class technology and real-time asset intelligence to put listings in the best position to find the perfect buyer. The expedited auction timeline, comprehensive due diligence, and buyer qualification make transactions twice as fast and twice as certain for brokers, owners, and investors.
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Auction Contact
Kevin Loudy
Contact
Auctioneer License:
Ten-X, Inc. Vibhav Kapila RE Brkr 10991231490
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Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
3% Transaction Fee
Based on Winning Bid Amount
Minimum Transaction Fee
$20,000
Maximum Transaction Fee
$300,000
Example Calculation
Winning Bid Amount
$5,000,000
Transaction Fee
$150,000 (3%)
Total Purchase Price
$5,150,000
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Downtown Multifamily With Upside | 90 Henry St
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