Syracuse, NY According to JF Real Estate, Art Werksman Associates have leased 2,660 s/f at 6295 East Molloy Rd. The company will be using the space as a new office furniture showroom. Previously the owners were operating out of their home, but the company’s growth has allowed them to lease space that includes private offices, storage, and a showroom for clients.
Matt Funiciello of JF Real Estate represented Art Werksman Associates, and Ed Rogers of Oliva Cos. represented the landlord.
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,