
Bronx, NY According to Gilco Realty LLC, broker Michael Gilbert has completed a 5,000 s/f lease at 1160 Southern Blvd., bringing the property to 100% occupied. Terms of the lease were not disclosed.
The space was a leased to Habibi Furniture who will be adding a second location to their existing location on East 149th 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,