
Middle Island, NY Roger Delisle and Robert Monahan of Island Associates, as landlord’s representative, negotiated a 1,500 s/f long-term lease extension for Quing Foot Spa at Strathmore Commons. Quing Foot Spa has been a tenant at the plaza for over 10 years and their new lease extension allows them to continue to provide the local community with their services.
Strathmore Commons is a 140,000 s/f center with a newly opened Meat Farms Supermarket, NYU Grossman, McDonalds, Golds Gym, Dollar Tree, All Island Pets, and a variety of other tenants.
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,