Amityville, NY Metro Realty Services, LLC sold two mixed-use/industrial properties for $4 million.
Michael Pisciotta of Metro Realty sold 4,400 s/f at 39 Maple Pl. to 39 Maple Place LLC for $1.2 million. Rosemarie Bozza of Above Board Realty represented the seller, Sumpkin Family Trust, and Pisciotta represented the buyer.
Mark Timpone and Andrew Blumenthal of Metro Realty Services sold 12,000 s/f at 36 Sylvester St., Westbury to Kashif Naseem for $2.8 million. Timpone and Blumenthal represented both the seller, Grand Machinery, and 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,