Industry One Realty Corp.
Farmingdale, NY Tom Courtney of Industry One Realty Corp.brokered the 4,500 s/f lease of industrial space at 1855 New Hwy., suite D. Courtney represented the tenant, Ace Service & Installation, and the landlord, 1855 LLC, in the transaction.
In a second transaction, Bob Misa of Industry One co-brokered a 8,500 s/f lease of industrial space at 200 B Patton Ave. in West Babylon. Misa represented the landlord, Ricca Properties, and Luciano Oliveria of Alliance Real Estate represented the tenant, JAC Redemption Inc.
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,