
West Babylon, NY Jeremy Hackett of Metro Realty Services, LLC sold 4,205 s/f at 401 Manhattan Ave. to 401A-401B Manhattan Avenue LLC for $1.36 million. Hackett represented the seller, AFP Property Corp., and Joseph Granieri of Nest Seekers Int’l. LLC represented 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,