Sutton Real Estate Celebrates 85th Anniversary

Syracuse Property Management Company

Sutton Real Estate Company is celebrating their 85th Anniversary with its Change for the Mission, a change drive to benefit the Rescue Mission’s expansion of the Clarence L. Jordan Food Service and Culinary Education Center. Sutton is holding this drive in memory of their founder Malcolm Sutton, who was profoundly concerned for those who were hungry in the greater Syracuse community and collected pennies to help the Rescue Mission feed anyone in need. The change drive will kick off on September 10th with an anniversary luncheon at Sutton’s office in Franklin Square. The drive will run through the end of 2018. Sutton’s goal is to raise a total of $8,500 and they will match up to $8,500.

 

The Rescue Mission Alliance is the only organization in the community serving three free meals daily and no one is turned away. The expansion of the Food Service and Culinary Education Center will allow more meals to be served in a home-like atmosphere. Currently, the center serves 700 meals a day, but only has the ability to seat 100 people at a time. People have to stand outside in the cold at times to wait for their meal. The new center will have a brand new state of the art kitchen, seating for 225 people, family designated dining room, an area where culinary education will be taught and storage for more food and more donations.

 

In 1933, Malcolm, a Russian Immigrant from Brooklyn came to Syracuse for work with the Loew Corporation. Shortly after, Malcolm started his own commercial real estate company, which was at the time a one man show.
Eighty-five years later, Sutton is the oldest full service commercial real estate company in the area with approximately 100 employees and offers property management, brokerage, development and temporary receivership services.

 

Malcolm Sutton was a business man through and through, but he was always concerned for others and because of this, Malcolm began collecting pennies. At first his pennies, were just pennies and then he started donating them to the Syracuse Rescue Mission and over the years, the pennies helped the Rescue Mission significantly. Malcolm’s son, Dan, who took over the company in the 1950’s, grew the company and also cared deeply about the local community. John Frantz took over the company after Dan and continued on a caring and giving spirit. The current president, Louis Fournier, also shares the same qualities of the past presidents and participates and donates to many organizations within the Syracuse community.

Following the lead of Malcolm Sutton, Sutton Real Estate Company cares about the Syracuse Community and how people will get their next meal. As a company, Sutton hopes that the business community in Syracuse will come together to help the Rescue Mission.

 

Companies Sutton partners with and clients of Sutton are joining in the change drive by placing a donation jug in their offices for staff and visitors to donate to this great cause. Sutton encourages other companies to join in the change drive by contacting Kristen Nave Fehlman with Sutton Real Estate Company at 315-424-1111.

Feinberg handles 38,000 s/f & $195,000 sale with Cannata-LaRocca

Syracuse Property Management Company

opens in a new windowTeti USA Building - 99 Harris StreetBart Feinberg represented the landlord, in a 38,000 s/f lease at 99 Harris St. to Giovanni Foods who was represented by Ed Rogers of JF Real Estate.

 

Bart Feinberg represented the buyer, Fady Kased, while Karen Cannata-LaRocca represented the seller in the sale of 1720 Erie Blvd., a 7,500 s/f building in Syracuse, for $195,000.

 

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Sutton Real Estate – Centerstate CEO Economic Champion

Syracuse Property Management Company

Sutton Real Estate has been featured as an “Economic Champion” because of its’ success in adding jobs, expanding its’ products and services, gaining national recognition and contributing to the success of the region.

 

“Established in 1933, Sutton Real Estate Company is an experienced, full-service, independent company in the region. Its team of experts is dedicated to delivering high-quality service to a diverse client base in every discipline: property management, brokerage, project development and temporary receivership services. Sutton has about 100 employees and brokerage associates in its main office in Franklin Square and at 40 properties in the portfolio.

 

In 2015, Sutton completed its first low income tax credit development project in Oswego. Seaway Lofts, a former brewery built in the late 1800’s, was converted to 26 affordable apartments. In 2017, Sutton completed the development of two more affordable projects in Syracuse: Harbor Street Lofts, a 40-unit mixed income historic project in Tipperary Hill and Valley Vista Apartments, a 120-unit senior project in the Valley neighborhood. Sutton will also start construction on a $20 million mixed-use project in downtown Oswego in the fall.

 

Sutton’s residential property management portfolio includes approximately 1,600 residential units and its commercial office building and retail center portfolio includes about one million square feet of medical, office, retail and mixed-use space. Sutton’s brokerage division offers a wide range of services including tenant and buyer representation, landlord and owner representation, site selection and property valuation. Sutton’s team has experience in a wide variety of property types, including office, medical office, industrial, retail, multifamily, investments, mixed-use and land. In addition to national accreditation’s, affiliations and memberships, its specialists enjoy connections at the local, regional and national levels. This has allowed Sutton to build a network that’s unmatched. Learn more at www.suttoncos.com.”

 

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Fournier Appointed Receiver of Cortland Hotels

Syracuse Property Management Company

“CORTLAND — Sutton Real Estate Co. announced that Louis Fournier, company president, was appointed by the state Supreme Court in Cortland County earlier this year to be the receiver for the Ramada Inn and Red Roof Inn in Cortland. The two hotels have a total of 150 rooms.The property containing the hotels had fallen into disrepair in recent years, according to Syracuse based Sutton Real Estate, and 40 of the 150 rooms in the Ramada Inn were closed due to water damage from a leaking roof. The occupancy and the overall condition of both properties was negatively impacted as a result. Sutton says it has started renovating the 40 rooms that were out of commission and began reintroducing the property to the Cortland market under the new management of Gulph Creek Hotels, which has been hired to manage the hotel during the receivership.”

 

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Fournier Appointed Receiver for Two Hotels in Cortland

Syracuse Property Management Company

 “A court-appointed receiver has been placed in charge of the Ramada Inn and Red Roof Inn motel complex in Cortland and has started rehabilitating the property foreclosed upon in February for failing to pay more than $300,000 in local property taxes and federal income taxes. The property had fallen into disrepair in recent years and 40 of the 150 rooms in the Ramada Inn had been closed because of water damage from a leaking roof, said the receiver, Louis Fournier of Syracuse-based Sutton Real Estate Co. Fournier was appointed receiver by the state Supreme Court in Cortland County in February and began his work March 1.”

 

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