Spencerport, NY Venture Brokerage Group negotiated the sale of Pinewood Country Club, located at 1189 Ogden Parma Town Line Rd. The established golf course and country club property sold for $1.5 million.
Jeffrey DiCesare of Venture Brokerage Group represented the seller in the negotiation and sale of the property. The 57.6-acre property featured a nine-hole golf course and recently renovated clubhouse.
The property underwent significant renovations before the sale, including upgrades to the clubhouse, restaurant, kitchen facilities, and the addition of a new ice cream shop.
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,