Queens, NY Katz & Associates’ Daniel DePasquale represented landlords in two leases:
• 42-19 Bell Blvd in Bayside. On behalf of the landlord Paulipark Associates, LLC leased 6,000 s/f to Teso Life. This is the Japanese grocery store’s 10th location. Slated to open early in 2023.
• 91-23 Queens Blvd. On behalf of the landlord, Midwood, signed a deal with Jollibee, a Filipino chain of fast food restaurant, for 3,614 s/f on the ground floor.
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,