Rockville Centre, NY Dennis McCoy, senior director of NAI Long Island, represented Arooga’s Grille House & Sports Bar in the 15-year lease of 47-51 North Village Ave. Arooga’s leased the 4,876 s/f restaurant space from SJP Blackthorn, LLC, who was represented by Stefani Steinberg and Dean Rosenzweig of CBRE.
This is Arooga’s second location, the first being in Patchogue, which they leased 3 years ago–McCoy also represented Arooga’s in their first location.
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,