
Staten Island, NY Cignature Realty closed the $6.8 million sale of 454-484 Van Duzer St., a multifamily apartment complex.
The subject is comprised of three, two-story garden-style buildings with a total of 64 residential units. The property is located between Smith Terr. and Stone St. in the Stapleton neighborhood.

The 40,800 s/f building with an additional 4,938 s/f of air rights sold for $166 per s/f.
Cignature Realty’s Lazer Sternhell and Peter Vanderpool represented both the buyer and the seller in this transaction.
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,