Islip, NY Robert Raffa and Robert Monahan of Island Associates Real Estate closed on the sale of 2701 Sunrise Hwy. The 7,449 s/f single story office building on .79 acres is located on the north service road of Sunrise Hwy. The property has visibility from both east and west travel with access to the Southern State Pkwy. as well as Montauk Hwy.
Raffa and Monahan were able to negotiate and close the deal for both the seller, Joseph Puzzo Esquire, and the buyer, Gabrial Gallante, owner of the Rockline Wealth Management Group.
The Island Associates team was able to help purchaser and seller reach terms for a smooth and quick round of negotiations. Interior renovations have started to personalize the building for the Rockline Group.
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,