
Nanuet, NY Rand Commercial have completed the sale of 168 Main Street, a former Autopro retail location. The 7,600 s/f corner property includes a full-height basement, roll-up delivery door, and an existing cell tower lease. Sam Adler and Paul Adler, Esq., SIOR of Rand Commercial represented the seller. Naftali Greenberg of YES Realty represented the buyer.
No additional terms of the transaction were disclosed.
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,