Brooklyn, NY Rick Carello of Keller Williams Realty Elite Commercial completed the sale of a 3,000 s/f warehouse located at 9909 Glenwood Rd.
The sale price was $1.1 million an was funded by private equity. The purchaser plans to relocate a pallet supply business to this location.
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,