Bellport, NY Jeremy Hackett of Metro Realty Services, LLC sold 4,770 s/f at 991 Station Rd. to 991 Station Road Realty LLC for $2.925 million.
Hackett represented the sellers, Beyer Station Road Holdings LLC & RBW Estate LLC, and the buyer.
And in a seperate transaction, Hackett sold 7,000 s/f 160 Irish Ln. in Islip Terrace to Sunrise Terrace LLC for $1.475 million.
Hackett represented the seller, Secut LTD, and the buyer.
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,