
Hauppauge, NY Island Associates negotiated two new lease agreements for office spaces at 490 Wheeler Rd.
Shield Pharmaceuticals signed a lease and took occupancy of 1,700 s/f of office space. They will be using the office space for corporate oversight of their manufacturing and bottling facilities.
Gerard Donnelly, Esq. entered a new long-term lease. Donnelly has had his law practice at 490 Wheeler Rd. for over a decade.
490 Wheeler Rd. is a 50,000 s/f two story office building with access to the LIE and a mix of office tenants.
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,