Welcome

After more than twenty-five years of performing a wide variety of complex commercial appraisal assignments, I have decided to focus my practice on Appraisal Review. I’ve made a career out of performing difficult appraisals on complex properties- the ones other appraisal firms wouldn’t take on. I have always enjoyed review work and have booked many assignments over those twenty-five years. I have recently completed two rigorous courses on the subject presented by the American Society of Appraisers.

So Welcome to the new Snowdon Valuation. My contact information is listed on the sidebar at right. For new clients, I invite you to look over this site and check my Qualifications page. And for current clients, I look forward to our continued relationship!

About Gary Snowdon, ASA

  • State Certified General Real Estate Appraiser, NYS No. 46-10095.
  • Accredited Senior Appraiser (ASA), American Society of Appraisers.
  • New York State Certified Appraisal Instructor.
  • Former Real Estate Appraiser Consultant, NYS Department of Transportation.
  • Former Regional Advisor, NYS Department of State.
  • Former Hearing Officer, NYS Supreme Court, Small Claims Assessment Review.

I have been a full-time commercial real estate appraiser since 1992, and have appraised properties throughout the Hudson Valley, Capital, Saratoga, and Adirondack regions for finance, litigation support, estates, eminent domain, conservation, and other purposes.

I’m an Accredited Senior Appraiser (ASA) of the American Society of Appraisers.  ASA is a multi-discipline society of appraisers who work together to appraise the total property value in such assignments as hotels, hospitals, convenience stores, and others. ASA appraisers are unique in their ability to put together the right team of appraisers for the assignment.

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My experience includes appraisals, reviews, and counseling for office buildings, restaurants, retail buildings and strip malls, mobile home parks, hotels, auto dealerships, medical facilities, resorts, marinas, military bases, historic communities, vacant land, and other commercial, institutional, and industrial properties.

Please call me at 518-227-0011 or e-mail me at gary@rsubo.com for your next appraisal review. You can also use the “Contact Gary” form from the menu above.

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A Street By Any Other Name

Lifehacker ran an excerpt from a video by Phil Edwards this morning concerning street names. Apparently, some municipalities, state transportation departments, and county planners use naming conventions for the last part of street names, such as ___ Street, ___ Blvd, ___Drive, etc. This is clearly evident in Manhattan, where avenues run lengthwise through the island and streets cross the avenues (for the most part). But it’s also apparent that some municipalities, counties, and states do not follow conventions.

Here’s Mr. Edwards’ sample list of naming conventions:

  • Road (Rd.): Can be anything that connects two points. The most basic of the naming conventions.
  • Way: A small side street off a road.
  • Street (St.): A public way that has buildings on both sides of it. They run perpendicular to avenues.
  • Avenue (Ave.): Also a public way that has buildings or trees on either side of it. They run perpendicular to streets.
  • Boulevard (Blvd.): A very wide city street that has trees and vegetation on both sides of it. There’s also usually a median in the middle of boulevards.
  • Lane (Ln.): A narrow road often found in a rural area. Basically, the opposite of a boulevard.
  • Drive (Dr.): A long, winding road that has its route shaped by its environment, like a nearby lake or mountain.
  • Terrace (Ter.): A street that follows the top of a slope.
  • Place (Pl.): A road or street that has no throughway—or leads to a dead end.
  • Court (Ct.): A road or street that ends in a circle or loop.

As I read the article I found my mind drifting back to the town where I grew up. Eaton Place did not dead end, but connected Pompton Avenue and Yorkshire Drive. Harper Terrace did not follow the top of a slope, but crested a small hill and continued down the other side. Cedar Grove Parkway was probably more of a neighborhood Boulevard. Hmm, clearly a confusing childhood.

So, if I was a developer, what would I name the street through my new subdivision? Snowdon Boulevard, Snowdon Place, or maybe Snowdon’s Way? OK, I like that one because Snowdon’s way generally does not conform to convention.

Here’s the video:

 

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Schoharie, NY

2016-07-29 09.40.13

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Thanksgiving Music

Thanks to Susan Golashovsky for the link.

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CBRE-Albany reports decline in office vacancy rate in Albany, New York, area – Albany Business Review

From the Business Review:

Building owners are generally having more success filling office space, and their tenants are paying slightly more per square foot, according to a survey by CBRE-Albany.

The average office vacancy rate in the five-county region surrounding Albany, New York, was 12.7 percent in the first half of this year, compared to 13.5 percent in the second half of 2014, according to the CBRE-Albany, the largest commercial real estate broker in the area.

Asking lease rates varied from $16.77 per square foot in downtown Albany to $18.16 for Class A suburban space. The overall average for the region is $16.50, a 31 cent increase over the second half of 2014.

Read the rest here: CBRE-Albany reports decline in office vacancy rate in Albany, New York, area – Albany Business Review.

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CBRE-Albany reports strong Capital Region warehouse demand and lowest vacancy rates since recession. 

From the Business Review:

Slightly more than 1 million square feet of industrial space was filled in the first half of 2015 in the Albany, New York, area, dropping the vacancy rate to the lowest level since before the last recession, according to a survey by CBRE-Albany. The vacancy rate among 63.1 million square feet of industrial space was 7.3 percent, compared to 8.9 percent in the second half of 2014. The industrial vacancy rate hasn’t been that low since before the 2007-08 recession, according to CBRE.

The “GlobalFoundries effect” has led to historically high leasing rates and faster leasing times on buildings within 10 miles of the Luther Forest Technology Campus, according to CBRE-Albany.

According to Richard Sleasman, President of CBRE-Albany, a major factor driving that demand is that suppliers are now committing to leases that are five to seven years long, as opposed to the shorter-term leases that were common when the computer chip plant opened several years ago. Short-term leases make it difficult, if not impossible, for developers to get financing for new construction.

The tightness of the market also means tenants are paying more.

The asking lease rate in Albany County increased 32 cents per square foot, to $4.59 per square foot, and $1.18 per square foot in Saratoga County, to $6.69 per square foot, compared with a year ago.

The overall average asking lease rate for the Capital Region fell slightly to $4.09 per square foot, a decline attributed to space available outside the core four counties.

Read the whole article at: CBRE-Albany reports big jump in warehouse leasing in Albany, New York, area – Albany Business Review

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