Brighton, NY Endeavor Real Estate Group represented the buyer in the acquisition of 800 West Metro Park, a flex building. A local investment group paid $1.95 million for the 21,000 s/f building, built in 1999 on 3.96 acres. The asset was 100% leased and producing income at the time of sale.
“The transaction reflects a strategically timed exit for the seller and a deliberate, high-value acquisition for the purchaser, a repeat client of our firm who is further expanding their portfolio with another premier property in the region” said James Buckley, managing principal of Endeavor.
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,