Eastchester, NY Houlihan Lawrence Commercial, a division of Houlihan Lawrence, facilitated the sale of a 3,200 s/f retail building at 17-19 Mill Rd. The sale price was $2.1 million.
Michael Scrima, director/associate real estate broker of the SG Realty Team at Houlihan Lawrence Commercial with Sean Campbell, real estate salesperson at Houlihan Lawrence Commercial represented the buyer and seller.
“We are proud to announce the successful closing of 17-19 Mill Rd. in Eastchester. This was a highly sought-after asset that attracted strong buyer interest, leading to multiple competitive offers and an aggressive closing price at $656.25 per s/f. Transactions like this continue to demonstrate the depth of demand for quality retail in prime Westchester County locations,” said Scrima.
“Our team (SG Realty Team at Houlihan Lawrence Commercial) remains extremely active across Westchester and Rockland Counties on retail, office, and industrial opportunities. Please reach out if you are considering a sale, acquisition, or would like a free opinion of value on any of your holdings,” said Campbell.
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,