
Niskayuna, NY CBRE-Albany completed the sale of 2341 Nott St. This is Phase 2 of St. James Square/Shop Rite Square, a two-story 43,000 s/f‚“L” shaped neighborhood shopping center comprised of retail and office space.
John MacAffer of CBRE-Albany represented the seller, ACM Northfield CR, LLC. St. James Plaza, LLC purchased the property. The property transferred for $1.85 million.
Tenants include: Fresenius, Dance Fire, Niskayuna Wine & Liquors, Medetec, and Nail Palace.
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,