Student Housing Complex Under New Ownership

Published 08/21 2014 05:42PM

Updated 08/21 2014 06:07PM

A Vestal student housing complex is under new ownership.

University Plaza at Vestal Park had been established as a subsidiary of Binghamton University Foundation.

That organization has sold its interest to Newman Development Group, which in the past has leased the land to the foundation.

The sale will allow University Plaza to extract 10-million dollars of equity that was built up over the past decade.

Newman also owns and operates a student housing complex in downtown Binghamton.

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