Smithtown, NY Jack Jawdat, president of New York Commercial Real Estate, LTD. (NYCRE), a premier commercial, industrial, retail and multifamily real estate brokerage and property management firm, closed the $2.75 million sale of the Linx Building located on 155 East Main St.
Jawdat represented both the buyer, private investor.
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,