
Rochester, NY Kevin Coscia, managing director at The Largo Group of Companies, arranged the sale of a for rent townhome property for $9.75 million. The property consists of 53 two-bedroom, two-bathroom units and is currently 100% occupied. Largo also facilitated the assumption of the existing CMBS debt they originated in 2021.
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,