West Babylon, NY Anvil Ironworks a manufacturer and installer of custom made metal products serving the New York metropolitan area has purchased a 13,600 s/f building at 120 Otis St. for $2.3 million.
The property had previously been occupied since 2009 by Nassau Fire Apparatus.
Anvil Ironworks was represented by George Hubner of Corporate Commercial Realty LLC while Jason Kontakis of Century 21 AA Realty represented the seller.
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,