
Troy, NY Adirondack Capital Partners negotiated the sale of Overlook Apartments, a 74-unit multifamily community. Michael Hunter Coghill of Adirondack Capital Partners represented the seller, Overlook Revive LLC, and the buyer, Corridor Ventures.
The property, built in 2016, sold for $9.45 million.
New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,