Staten Island, NY Hobby Lobby opened its first NYC store (42,000 s/f). It’s located at 280 Marsh Ave. Katz & Associates’ Brian Katz and Daniel DePasquale represented Hobby Lobby along with master broker Graeme Keith of The Keith Group. Brookfield Properties leased the space.
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,