
Queens, NY David Nouvini, president of Nouvini Property Investments, LLC, has closed on a 20,000 s/f retail center within two weeks of signing the contract. The deal was brokered by Ideal Associates.
The fully-vacant center was acquired through an all-cash purchase in the amount of $5 million.
This property was redeveloped and is now fully leased. It is located on Horace Harding Expressway, a few blocks from Flushing’s Main St.
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,