
Hamburg, NY Jack Phillips of Largo Real Estate Advisors, Inc. closed a $4.04 million permanent first mortgage refinance for a multi-tenant medical office building.
Originally developed in 2007, the building has maintained 100% occupancy and is home to prominent medical tenants. The property’s strong performance, long-standing tenancy, and strategic location have made it a desirable healthcare asset in the region.
Largo arranged the financing through a credit union lender, providing a tailored refinancing solution to support long-term stability and continued investment.
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,