Upstate brokers lead $160m sale.

Two years of hard word has paid off for upstate brokers Tom Anarumo of the Century 21 Anarumo/ZOAR firm, and Robert Giniecki, CCIM, SEC of the Foresite Properties, when a $160 million sale price was achieved on a multi-family portfolio.

The DCG Development Company-owned portfolio of 12 multi-family complexes--consisting of 2,342 multi-family units and a 412 pad mobile home park, a combined total of 2,754 units altogether which were operated by Donald C. Greene of Clifton Park, NY--was purchased by Capital Acquisitions, LLC, a New Jersey firm.

Following a real estate marketing meeting sponsored by NYSCAR (New York State Commercial Association of Realtors), Century 21 Anarumo/ZOAR Realty, Inc. of Newburgh and Foresite Properties real estate brokerage firms were instrumental in bringing about the transaction with Anarumo and Giniecki the lead brokers in the deal.

The deal will provide the DCG Development Co. the opportunity to concentrate on the development and operation of its holdings in office and commercial properties, which include retail and restaurants.

The New York State transaction included nine properties located in Saratoga County, two in Rensselaer County and one in Albany County.

The properties included in this transaction within Saratoga County were: the Twin Lakes Apartments, Southview Apartments, Squire Park Apartments and Park 200 Apartments, all in Halfmoon, London Square; Blue Spruce and Foxwood Apartments in Clifton Park; Congress Place Apartments in Saratoga Springs; Crestwood Townhomes in Albany; Vendenburgh Place and Stanton Hill in the City of Troy, and Malta Gardens Malta.