Newmark has been engaged as exclusive advisor in the sale of Park Place Saratoga, a 100% market rate 57 apartment home community located in the affluent resort town of Saratoga Springs, NY. Built in 2013, the asset is ideally suited for the market with each apartment offering direct access with no common hallways, attached individual heated garages and oversized floorplans. Rents in Saratoga Springs have increased 7.0% annually since Q1 2020 and forecast to grow 3.4% annually through 2029. The area offers an exceptional lifestyle being home to Saratoga Race Course, Saratoga Performing Arts Center, Saratoga National Golf Club. Skidmore College, Saratoga Spa State Park, dozens of restaurants, high-end retailers and access to the Adirondack Park.
Broker will provide access to actual operating information and Offering Memorandum week of February 19 or sooner to those that have signed the Confidentiality Agreement.
Class A Community
Exceptional Property Performance
Strong Saratoga Market Fundamentals
Capital Region Tech Sector
Dynamic Saratoga Springs Lifestyle