Mineola, NY Hunt Corporate Services, Inc. said that SBG Distribution has purchased the 17,000 s/f industrial building at 257 East Second St. David Hunt represented the seller, Great Neck Saw Manufacturers, Inc., while the buyer was represented by Joicey Varughese of Schacker Realty.
SBG provides asset recovery, data destruction, electronic recycling and parts for mobile devices. Founded in 2009, SBG has locations in Hong Kong, Vietnam, India, Dallas and Los Angeles.
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,