
Buffalo, NY 1370 William Street Property LLC has purchased 1370 William St. from 1370 William LLC for $4.05 million. The 81,683 s/f industrial warehouse building sits on 3.11 acres.
Robert Cowing, III, associate real estate broker for Cushman & Wakefield/Pyramid Brokerage Company Buffalo, handled the negotiations for the buyer. The seller was represented by Eric Tudor, a principal broker with Tudor Collins Commercial Real Estate.
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,