Albany, NY Vanguard-Fine, LLC has brokered three transactions.
• Steven Lerner and Barry Feinman of Vanguard-Fine, LLC brokered sale of 15 Centre St., Albany, between buyer: Eric Blair-Joannou and seller: Wolf Coal Co., Inc. The purchase price was $1.25 million.
• Kenneth Brownell of Vanguard-Fine and Adam Pancione of Caliber Commercial Brokerage brokered the ten-year lease between Harbor Freight Tools, Calabasas, CA and Geneva Shopping Center. The 15,000 s/f store is located in the Geneva Shopping Center, Geneva.
• Benjamin Feinman of Vanguard-Fine, LLC brokered the lease between Polish Nails and Oneontawood, LLC. The 900 s/f nail salon is located at 762 Rte. 28, Oneonta.
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,