Mohegan Lake, NY Houlihan Lawrence Commercial has sold 3116 East Main St.
This .76 acre commercial pad site, zoned CD – Designed Commercial, is located on the north side of Rte. 6, three miles west of the Taconic State Pkwy. The seller was Mongero, LLC and the buyer was Bathija Brothers LLC.
The sellers were represented by Garry Klein and Kenneth Lefkowitz of Houlihan Lawrence Commercial. Lefkowitz also represented the buyer.
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,