Syracuse, NY Matt Buroni of Sutton Real Estate Co. brokered the sale of 1001 N. State St. The sale price was $170,000.
The property was under contract one week after obtaining the listing and Buroni was able to close in 30 days.
The buyer and seller wish to remain anonymous at this time.
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,