Cicero, NY According to Sutton Real Estate Company, five buildings at Centre 31, an office/retail complex located at 6255 State Rte. 31, recently sold to a private investor for $1.875 million. The buyer was represented by Kristen Nave Fehlman of Sutton and the seller was represented by Ozzie Crisalli of Syracuse Realty Group.
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,