Cap Rates for appraisals in Syracuse, NY

[Mark Costa]

Evening BP,

Has anyone gone through a commercial refinance/purchase in the Syracuse, NY area within the past few months for a multifamily apartment building? Specifically, I am looking for someone who has financed 5+ unit properties. If so, what cap rate and assumptions did the appraiser use? I am looking at perhaps doing a BRRR type strategy on a MFH and want to be able to estimate what the ARV will be.

Thank you.