Tonawanda, NY DKP Buffalo sold 55 Milens Rd. for $9.75 million. The 211,650 s/f industrial manufacturing building is on 21.44 acres.
Richard Schechter, associate real estate broker and David Seider, real estate salesperson for Cushman & Wakefield|Pyramid Brokerage Company Buffalo, exclusively represented the 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,