Rye Brook, NY RSP Group, LLC recently purchased 90 South Ridge St. from BRG Rye Brook, LLC for $11.1 million. The building is a glass, two-story, 75,000 s/f, commercial office and medical building located on Ridge St. and Bowman Ave. across from the Rye Ridge Shopping Center. The building is occupied by first class medical and professional tenants.
Robert Ocko, managing partner of the real estate and corporate practice groups at Harrington, Ocko & Monk, LLP in White Plains, represented RSP Group, LLC in this acquisition.
Ocko has represented numerous commercial real estate clients in multi-million dollar transactions in Westchester and throughout the metropolitan area for more than 25 years.
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,