New York Power DST
Industrial in Syracuse, NY — sponsored by Inland Private Capital
Minimum investment
$25k
Offering size
$11.8M
How much has sold
100.0%
Asset type
Industrial
Location
Syracuse, NY
Financing
All cash. This offering reports no mortgage debt.
Sponsor-reported, from SEC filings and cited sources.
What is this, in one paragraph?
New York Power DST is a closed Delaware Statutory Trust — a structure letting 1031 exchange investors hold fractional interests in real estate — sponsored by Inland Private Capital. It owned one industrial building in Syracuse, New York, leased to Niagara Mohawk Power Corporation, known as National Grid.1 Inland reported selling that property in January 2022 for $13.4 million; the Trust is closed to new investors.1
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These links support the historical public record; individual details may come from different sources.
On a 45-day clock? Find day 45 and day 180 from the sale date, then come back to this record.
What exactly is the property?
The Trust held a single asset: an industrial facility at 7496 Round Pond Road in Syracuse, New York.1 It was bought in 2011 for $9.7 million, a figure AltsWire attributes to Inland Private Capital.2 The building was fully leased to Niagara Mohawk Power Corporation, the upstate New York utility now operating as National Grid.1 Public records located for this Trust do not settle the year built or its construction history.
- Reported location
- Syracuse, NY
- Property size
- 124,980 square feet
Who is the tenant, and what's the lease?
The sole tenant was Niagara Mohawk Power Corporation, the regulated utility doing business as National Grid, which occupied the entire building.1 AltsWire, reporting Inland's account, said five years remained on the lease when the property sold.2 No public filing describes who bore taxes, insurance and maintenance.
How did it end?
Sold after 10.5 years; sponsor reported 1.93x
Listed as a completed/full-cycle program on Inland Private Capital's published track record.
Acquired in 2011 by Inland Private Capital's New York Power DST; originally 100% leased to Niagara Mohawk Power Corp. (now National Grid); never encumbered by debt during DST ownership. Sold in January 2022 for $13.4 million, delivering a 192.17% total return to investors (Inland Group / Inland Investments). Launched July 2011 seeking roughly $12 million of equity.
124,980 square feet1.93×Equity multiple · as reported by the sponsor
192.2%Total return · as reported by the sponsor
8.8%Annualized return · as reported by the sponsor
$13,400,000Sale price · as reported by the sponsor
Supporting evidence
How is it financed, and what does it pay?
No lender was ever involved: on Inland's account, as reported by AltsWire, the property carried no mortgage debt during the Trust's ownership.2 An all-cash DST carries no foreclosure risk or refinancing deadline, and also supplies no replacement debt to a 1031 investor exchanging out of a leveraged property.
Who's behind it?
Inland Private Capital is named as a promoter of this Trust in its Form D.5 The issuer's SEC record lists its principal office at Inland's Oak Brook, Illinois address, 2901 Butterfield Road.4 Inland is among the larger DST sponsors by number of programs on record. It announced the Syracuse sale on January 12, 2022, and published a retrospective case study on the deal on October 16, 2025.3
- Sponsor
- Inland Private Capital
- Legal Trust name
- New York Power DST
- May convert to a REIT
- No
- Offerings from this sponsor
- 8 active / 79 total offerings from Inland Private Capital
Reported by the sponsor. Top1031 does not independently audit sponsor-reported figures.
What does the paperwork say?
The filing record covers one raise that opened in 2011 and ended in early 2012: successive Form D amendments stepped the reported sale total upward, and nothing has been filed since. The exemption used barred general advertising, so interests went only to accredited investors — people meeting SEC income or net-worth tests — through existing relationships.
- First Form D filedThe public offering record begins.
- Offering amount recordedA Form D amendment recorded offering and sales totals.
- Filing record updatedA later amendment updated the sponsor’s filing record.
- Latest Form D filedThe most recent sponsor-filed checkpoint in this record.
- Filings on record
- 8
- How it may be offered
- Rule 506(b)Not advertised publicly. Offered through existing relationships.
- Source filing
- Read the filings on SEC EDGAR
A Form D is the notice a sponsor files when it starts raising money. A Form D filing does not mean the SEC approved, endorsed, or verified the offering.
DST interests are illiquid private securities. You may lose some or all of your investment. Distributions, tax treatment, and exit timing are not guaranteed. Review the current Private Placement Memorandum before investing.
Common questions
What happened to New York Power DST?
Top1031 lists New York Power DST as historical. It is no longer raising money.
Where does Top1031 get the data for New York Power DST?
Top1031 builds this record from the sponsor’s own SEC filings and cited sponsor disclosures. Filings can lag what is happening now. A Form D filing does not mean the SEC approved, endorsed, or verified the offering.
Can I still invest in New York Power DST?
No. The Trust's raise closed in early 2012, and Inland Private Capital reported selling the underlying Syracuse property in January 2022, so the Trust is closed to new investors.[1]
What happened to the property?
Inland Private Capital reported that it sold the 7496 Round Pond Road industrial facility in Syracuse, New York, in January 2022 for $13.4 million.[1] AltsWire reported the same sale price on Inland's account.[2]
What did investors ultimately receive?
Inland Private Capital reported a 192.17 percent return of capital to investors on their original investment and an 8.77 percent average annual return.[1] These are the sponsor's stated figures for a completed disposition, not a projection, and individual results depended on each investor's tax position.
Did this Trust use mortgage debt?
No. AltsWire, reporting Inland's account, said the property was never encumbered by debt during the DST's ownership.[2] That means the Trust generated no replacement debt for exchangers who needed to match a mortgage on a relinquished property.
Was there a 721/UPREIT exit?
No. A 721 or UPREIT exit contributes DST property to a REIT in exchange for operating-partnership units. Here the property was sold for cash in January 2022 instead.[1]
Why are there no SEC filings after January 2012?
Form D and its amendments report a private offering's progress, not ongoing operations. Once the raise ended, the Trust had nothing further to file; the disposition a decade later was announced through sponsor press material.[1]
Chapter 9Case Study: A Power Play Rewards Investors in Sale of Syracuse, NY Industrial FacilitySponsor retrospective case study detailing the New York Power DST acquisition, hold period, and 192% disposition outcome. Inland Private Capital Corporation Provides Over 192% Total Return to Investors with Industrial Sale in Upstate New YorkSponsor press release announcing the disposition of the Syracuse industrial facility on behalf of New York Power DST.