Nothnagle Realtors Relocation

County of Monroe Industrial Development Agency

Nothnagle REALTORs, headquartered in Monroe County,New York, is a full-service real estate company with over $1 billion in annual sales. In the most recent Top 100 report issued by REALTOR Magazine, Nothnagle was ranked the 33rd largest broker in the country.In 2009 Nothnagle purchased a long vacant historic building to serve as the new headquarters for Nothnagle Realtors and Allstate Nothnagle Insurance Agency. The $4 Million project turned a 1920’s-era vacant building into a sleek and modern Class A office building.Completed in 2011, the project serves as an anchor development for the historic Cascade District neighborhood located at the western gateway of Rochester’s central business district.

Project Need(s)
Founded with a single office in 1948, Nothnagle has grown to more than 30 real estate offices throughout New York State. The company has expanded its ancillary services to include mortgage banking, and the Nothnagle Insurance Agency, which provides homeowners, auto and life insurance products. Headquarters, which includes central operations and agent support, are housed in 3 separate buildings, in the Town of Brighton. Nothnagle’s growth called for a consolidated operation, in a central location, that would provide enable the company to attract a geographically diverse workforce, while improving operating efficiencies.Faced with the same challenges shared by other Upstate New York Cities, the City of Rochester’s historic Cascade District Neighborhood, located at the western gateway of Rochester”s central business district, was anchored by the highly visible Cascade Triangle building. The historic building has been 100 percent vacant for a decade and a blighting influence for the surrounding area.

Project Solution
The project was assisted by the County of Monroe Industrial Development Agency with sales and mortgage tax exemptions, along with a Jobs Plus real property tax abatement.Additional assistance was provided by the City of Rochester, through the Main Street Assistance Program and Brownfield Assistance Program, and RG&E, which provided a grant for electrical infrastructure upgrades.The newly renovated building will anchor the city’s Cascade District and attract further investment to downtown’s western entrance.