Brewster, NY Houlihan Lawrence Commercial brokered the sale of 18-19 Fields Ln. This exclusive listing was represented by John Ravetto.
The property consists of two newly constructed warehouse steel-frame buildings of 9,900 s/f and 90,000 s/f on 15 acres. This property is located near exit 8 of I-684.
The seller, Alfredo Site Development Co., is a modular steel-frame builder. The undisclosed buyer was represented by Stan Putko of Orenda Estates, LLC.
The property sold for $18.5 million.
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,