
Fayetteville, NY Larry Van Der Bogart, and Marty Dowd of CBRE Syracuse exclusively represented the owner in the sale of 5427 North Burdick St. The property was previously the location for Fayetteville Dodge Jeep Chrysler, and will now be the new location to an electric car dealership. The property is 23,672 s/f and sold for $4.55 million.
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,