Fayetteville, NY JF Real Estate, a full-service commercial real estate brokerage firm, brokered the sale of a 6,100 s/f retail/office building located at 6891 E. Genesee St.
The sale price was not disclosed.
Paul Myles with JF Real Estate represented the seller, Lyndon Corners Group, LLC, and Jonathan LaSalla with Acropolis Realty Group represented the buyer, Jet Black Realty LLC, in this transaction.
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,