Nanuet, NY Rand Commercial negotiated a five-year lease for 8 College Ave. with an option to purchase with D & J Industries, LLC.
The 2,394 s/f professional office off Rte. 59, features parking, reception, private office, open workspace, kitchenette, and bathroom on the first floor plus an additional private office, conference room and open space on the second floor.
Rand Commercial was the sole broker.
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,