Industry One Realty Corp.
North Amityville, NY Industry One Realty Corp. has completed the following sales:
• Bob Misa of Industry One represented the buyer, 167 New Hwy LLC, and the seller, Albany Avenue Management LLC, in the sale of a 39,000 s/f flex/industrial building at 599 Albany Ave. The sale price was $3.145 million.
• Mario Asaro, SIOR of Industry One brokered the $1.425 sale of 10,000 s/f industrial building located at 238 Rte. 109 in Farmingdale. Asaro represented the seller Call Properties as well as the buyer, 238 Rte 109, LLC.
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,