
Niagara Falls, NY Jack Phillips, principal at The Largo Group of Companies, arranged $5.4 million refinancing for a manufactured housing community. The project will total 148 pads. The park is considered a four-star property with double wide lots, paved roads, curbing, streetlights, landscaping, and an on-site property manager. The property also features public utilities, including sewer and water.
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,