
Buffalo, NY Ned Perlman, vice president of originations at Largo Capital, Inc., arranged $7.4 million in financing for a portfolio of seven industrial and manufacturing properties located mainly throughout Upstate New York. Perlman secured a limited recourse 18-year self-amortizing deal through one of Largo’s life insurance companies.
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,