
Tonawanda, NY Ned Perlman, vice president of upstate originations at Largo Real Estate Advisors, Inc. secured a permanent first mortgage to refinance a single tenant retail property. With a frontage along Niagara Falls Boulevard, the subject property benefits from a highly trafficked location ideally suited for retail. The loan was financed by one of Largo’s correspondent life insurance companies, offering the most competitive terms in the market. Largo will service the loan as a part of its $4.5B+ servicing portfolio, providing high touch service throughout the life of the loan.
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,