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Lender Owned | Resi/Retail Redevelopment 2 Retail Properties Online Auction Sale Binghamton, NY
Matterport 3D Tour
Investment Highlights
- Historical landmarks, the Stone Opera House, built in 1892, and the Strand Theater, built in 1920, present plans for student housing redevelopment.
- Limited supply of high-quality student housing with consistent rent growth presents one of the largest planned redevelopment projects in Binghamton.
- Prime downtown location steps from Court Street, the city’s main commercial corridor with restaurants, bars, cafes, and retail.
- Located in Binghamton’s prime student-housing market, serving SUNY Binghamton’s 18,000+ students with strong off-campus demand.
- Historical characteristics, along with a new modern design, enable the landmarks to be repositioned into a differentiated housing product.
- Binghamton University welcomed approximately 18,600 students for the 2023-2024 academic year, a record-breaking number of new students.
Executive Summary
Lee & Associates NYC is pleased to present for sale the redevelopment opportunity at 27–31 Chenango Street in Binghamton, New York. The offering consists of historic assets totaling approximately 73,100 square feet, strategically located near the core of Downtown Binghamton.
The opportunity has approved plans for 204 beds across 92 residential units, along with commercial space, positioning it as a premier future student-housing destination serving the growing SUNY Binghamton population. Once executed, the redevelopment will create a modern, amenitized housing experience in a market with limited high-quality supply.
Investors have the chance to reposition historic buildings into a high-demand student housing product, benefit from strong long-term fundamentals driven by Binghamton University’s enrollment growth, and capitalize on the project’s scale and location. The entitlement work is complete, enabling a streamlined path to construction and delivery.
This opportunity offers a rare combination of scale, approvals in place, and central location, making it one of the most compelling student housing redevelopment offerings in Binghamton.
For more information on eligible historic tax credits, visit the Data Room.
The opportunity has approved plans for 204 beds across 92 residential units, along with commercial space, positioning it as a premier future student-housing destination serving the growing SUNY Binghamton population. Once executed, the redevelopment will create a modern, amenitized housing experience in a market with limited high-quality supply.
Investors have the chance to reposition historic buildings into a high-demand student housing product, benefit from strong long-term fundamentals driven by Binghamton University’s enrollment growth, and capitalize on the project’s scale and location. The entitlement work is complete, enabling a streamlined path to construction and delivery.
This opportunity offers a rare combination of scale, approvals in place, and central location, making it one of the most compelling student housing redevelopment offerings in Binghamton.
For more information on eligible historic tax credits, visit the Data Room.
Matterport 3D Tour
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Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
Offering Memorandum Click Here to Access
Data Room Click Here to Access
- Offering Memorandum
- Operating and Financials
- Purchase Agreement
- Third Party Reports
- Title and Insurance
- Miscellaneous
- Investigations
Market Analytics Click Here to Access
Property Facts
| Sale Condition | Auction Sale | Number of Properties | 2 |
| Type of Ownership | Fee Simple | Total Building Size | 73,100 SF |
| Sale Type | Investment | Total Land Area | 0.70 AC |
| Status | Active |
| Sale Condition | Auction Sale |
| Type of Ownership | Fee Simple |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Total Building Size | 73,100 SF |
| Total Land Area | 0.70 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built |
|---|---|---|---|
|
Stone Opera House
31-33 Chenango St, Binghamton, NY 13901 |
Retail | 38,156 SF | 1892 |
|
Strand Theater
27 Chenango St, Binghamton, NY 13901 |
Retail | 34,944 SF | 1920 |
Sale Advisor
Sale Advisor
Sean Slattery, Director
Mr. Slattery joined Lee & Associates in 2018. Since joining the firm, Mr.
Slattery has transacted on a variety of asset classes including industrial,
office, multi-family, retail, development, net-lease, and student housing. In
his role as Director, Mr. Slattery is responsible for origination, production,
and analysis.
In addition to his civilian career, Mr. Slattery serves as a reserve officer the
US Navy. An 8-year member of the Strategic Sealift Officer Force, Sean has
served under NAVCENT, Military Sealift Command, and the US Maritime
Administration.
Mr. Slattery is currently pursuing a Master’s in Real Estate Finance degree
at Georgetown University.
Slattery has transacted on a variety of asset classes including industrial,
office, multi-family, retail, development, net-lease, and student housing. In
his role as Director, Mr. Slattery is responsible for origination, production,
and analysis.
In addition to his civilian career, Mr. Slattery serves as a reserve officer the
US Navy. An 8-year member of the Strategic Sealift Officer Force, Sean has
served under NAVCENT, Military Sealift Command, and the US Maritime
Administration.
Mr. Slattery is currently pursuing a Master’s in Real Estate Finance degree
at Georgetown University.
About the Auction Technology
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Auction Contact
Casey Harrell
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
Contact the Sale Advisor
Lender Owned | Resi/Retail Redevelopment
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Lender Owned | Resi/Retail Redevelopment
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