New York, NY ERG Property Advisors has hired Anthony Presutto to its investment sales division.
Presutto graduated from the University of Connecticut with a degree in economics and an emphasis on real estate. He was an active member of the universities’ Real Estate Society, as well as a member of the Sigma Alpha Epsilon fraternity.
While in college, Presutto gained experience interning with RHYS Commercial Real Estate where he performed property analyses utilizing market data and identified potential real estate opportunities for his firm.
At ERG, Presutto will be specializing in the valuation of commercial properties in Brooklyn.
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,