Ronkonkoma, NY Metro Realty Services LLC negotiated six sales transactions which totaled $7.475 million and 51,600 s/f of industrial space and over two acres of industrial land.
Jeremy Hackett of Metro Realty sold a 4,600 s/f industrial unit at 710-2 Union Pkwy. to 710-2 Union Parkway LLC for $1.075 million. Hackett represented the undisclosed seller and Tim Petrou of Blue Shark Real Estate represented the buyer.
Hackett sold a 12,000 s/f industrial property at 134 Rome St., Farmingdale to 134 Rome St LLC for $2.5 million. Mark Walsh of Real Equity Advisors represented the seller, Small Ind Factories, Inc., and Hackett represented the buyer.
In Medford, Hackett sold 2.35 acres of industrial land on the corner of Commercial Blvd. and Middle Island Rd. to JJJ Commercial Blvd LLC for $1.9 million. Hackett represented the seller, Commercial Blvd. Holdings LLC, and the buyer.
Hackett and Mark Timpone of Metro Realty sold three industrial lots in Bay Shore at the corner of 1st St., Harrison Ave. and Lincoln Ave. totaling 12,500 s/f to South First Realty LLC for $800,000 Hackett represented the undisclosed seller and Timpone represented the buyer.
Hackett sold two industrial lots in Bay Shore at Lincoln Ave. and Harrison Ave. totaling 12,500 s/f to Land by Lincoln LLC for $650,000. Hackett represented the undisclosed seller and Christopher Cardenas of Tripoint Realty represented the buyer.
And the final sale was in Bay Shore, Hackett and Michael Pisciotta of Metro Realty sold one industrial lot on Harrison Ave. totaling 10,000 s/f to Antoinette J Casagrande Irrevocable Family Trust for $550,000. Hackett represented the undisclosed seller and Pisciotta 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,