
Hauppauge, NY Bob Raffa of Island Associates negotiated a relocation and new lease for National EAP for 1,700 s/f at 490 Wheeler Rd. National EAP relocated within the building and extended their term. National EAP is a consulting and human resources firm that has been in the building for over 10 years. 490 Wheeler Rd. is a 50,000 s/f two-story office building with access to the LIE and mix of office tenants.
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,