Manhattan, NY Giancarlo Valle leased 2,587 s/f at 50 Lispenard St. for a furniture showroom. The showroom will occupy the ground floor and basement.
Giancarlo Valle was represented by Tim Intriva of Conrad Real Estate LLC and legal representation was Ian Lester, Esq. of Lester Shaw & Levy LLP; landlord SSM of New York LLC was represented in-house.
The Giancarlo Valle showroom opened May 2024.
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,