
Chestnut Ridge, NY Rand Commercial negotiated the sale of 540 Chestnut Ridge Rd., formerly owned by Rockland Paramedics.
The site will serve as the new home for Tomche Shabbos of Rockland County, a nonprofit organization that provides food assistance, emergency grants, job training, and other support services to individuals and families facing financial hardship.
Paul Adler, Esq., SIOR of Rand Commercial represented the buyer and seller.
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,