Syracuse, NY Stephen Saleski of Sutton Real Estate Company, LLC. represented the buyers of 3300 Vickery Rd., North Syracuse, a 20,000 s/f multi-tenant office building. The sellers were represented by Josh Emhoff of Emhoff Associates. The sale price was $1.1 million.
Additionally, Saleski, along with Dan Krupke of Berkshire Hathaway CNY Realty, represented the seller of 4998 N. Jefferson St. in Pulaski. The sale price was not disclosed. The subject is a single-story warehouse.
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,