Glens Falls, NY Craig Darby of CBRE-Albany acted for the seller in the $945,000 sale of the Colvin Building, 206 Glen St.
This five-story 35,100 s/f commercial building was sold by The Steven David Tessler Trust. All American Properties represented the buyer, Brian Bronzino, Jr.
The property transferred on December 28, 2018.
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,