Northport, NY Roger Delisle of Island Associates brokered the sale of 295 Larkfield Rd. The subject consists of 12,000 s/f retail on 0.87 acre. The property contains Aboff’s Paints, East Northport Animal Hospital and a hair salon. A Wendy’s is located nearby. Island Associates was the sole broker involved in this sale of $2.5 million.
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,