Holtsville, NY Metro Realty Services sold two properties totaling over 30,000 s/f and $7.75 million.
Nicholas Romano, Andrew Blumenthal, and Mark Timpone of Metro Realty Services, LLC sold 16,000 s/f at 740 Blue Point Rd. to 240 Blue Point Realty LLC for $3.95 million. Romano represented the seller, 740 Realty Corp., and Blumenthal and Timpone represented the buyer.
Jeremy Hackett of Metro Realty Services sold 15,000 s/f at 750 Blue Point Rd. to Sensaras LLC for $3.8 million. Hackett represented the seller, NEPS Property Inc., and Mark Pawalcheck of Compass Real Estate represented the buyer.
And Metro Realty Services negotiated three leases.
Romano leased 927 s/f office space at 320 Northern Blvd., Ste. 11, Great Neck, to Avon Capital Advisors LLC. Romano represented the landlord. Robert Birnbaum represented the tenant.
Romano leased the 9,000 s/f industrial building at 190 McCormack Dr., Bohemia to MFLH Roebling LLC. Romano represented the landlord. Birnbaum represented the tenant.
And in Farmingdale, Timpone leased the 25,000 s/f industrial building at 65 Price Pkwy. to S&S Sports. Timpone represented the landlord and Property Professionals Realty represented the tenant.
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,