BINGHAMTON, N.Y., July 21, 2025 (GLOBE NEWSWIRE) — SVN Innovative Commercial Advisors is pleased to announce the upcoming auction of 257 Washington Street, a centrally located, income-producing multifamily asset in the heart of Binghamton, New York. The property will be sold through a Ten-X online auction, scheduled for August 11–13, 2025, with a starting bid of $400,000.
Originally built in 1926 and fully renovated in 2016, the 12,544-square-foot building features 18 residential units, with 11 currently leased and stabilized, providing immediate rental income and long-term upside. The asset is ideally positioned within Binghamton’s Center City—walking distance to restaurants, breweries, shops, and public amenities, and just minutes from Route 17/I-86 and I-81.
Located less than two miles from Binghamton University, which serves more than 18,000 students, the property sits in a supply-constrained submarket with a 4.6% vacancy rate and strong year-over-year rent growth. The building features modern enhancements, including individual HVAC and utility meters for each unit, automatic entry locks, a full sprinkler system, and elevator access. It is also eligible for historic tax credits, enhancing its investment potential.
“This is a rare opportunity to acquire a well-located, partially leased asset in a market with strong fundamentals and limited new development,” said Scott Warren, Managing Director of SVN Innovative Commercial Advisors. “257 Washington Street offers both immediate cash flow and strategic value-add potential.”
The auction will be conducted exclusively on Ten-X.com, with due diligence materials, property information, and registration details available online.
For additional information or to schedule a tour, contact:
SVN Innovative Commercial Advisors
Office: (607) 203-1826
svninnovative@svn.com
www.svninnovative.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/524e6ad3-f940-43f4-902e-7bc5661a4ea9
