New York, NY GATES Capital Corporation has arranged and closed a $5.553 million in financing for the benefit of Volunteers of America - Greater New York (VOA). The borrower utilized the proceeds of the 2017 bonds to finance and/or refinance the acquisition (through a leasehold), construction, renovation, equipping and furnishing of its headquarters facility located at 135 West 50th St.
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,