Amityville, NY Michael Pisciotta of Metro Realty Services, LLC sold 4,400 s/f at 61 John St. to Pratt Bridge Properties LLC for $1.275 million.
Pisciotta represented the seller and John Simpson of Signature Premier Properties represented the buyer.
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,