
Syracuse, NY According to Byron Hakimi, principal of Hakimi Capital Group, (HCG) the firm has completed the acquisition of a retail shopping center. The acquisition price was $7.004 million.

The subject, known as the Westvale Plaza, is located at 2102-2214 & 2318 West Genesee St. The property consists of 185,000 s/f, and is 67% occuppied. Westvale Plaza LLC was the seller.
HCG owns and manages multi-tenant retail shopping centers, office buildings (medical and professional), single-tenant NNN properties, and mixed-use buildings.
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,