Amherst, NY Ned Perlman, vice president of Originations at Largo Capital, Inc. arranged construction financing for the development of a mixed-use property. Upon completion, the subject property will feature 67 apartments and townhomes with a mix of 1, 2, and 3-bedroom units, 19 garages as well as 7,000 s/f of commercial space at ground level. The property is situated with convenient access to many great area amenities including an array of retailers, restaurants and entertainment.
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,