Queensbury, NY Christopher Farrell and Barry Feinman of Vanguard-Fine, LLC and Ann MacAffer of CBRE, Albany brokered the sale of 176 Quaker Rd. between the buyer Collection Center Property Company, LLC and seller Aldi, Inc. (New York). The purchase price was $1.55 million.
Paul Bulmer and Farrell of Vanguard-Fine, LLC brokered the lease between Lexington Vacuum Cleaner Rebuilders, Inc. and Anthony Choppa, Sr. and Anthony Choppa, Jr. The 1,500 s/f store is located at 1020 Central Ave., Albany.
Benjamin and Barry Feinman of Vanguard-Fine brokered the sale of 111-135 Paine St., Green Island, between purchaser Aron Ostreichier and the seller National Convenience Distributors, LLC. The purchase price was $500,000.
Kenneth Brownell of Vanguard-Fine and Brian Donovan of Donovan Real Estate Services brokered the 20-year ground lease between Splash Holdings CC, LLC and National Retail Properties, Inc. The two-acre car wash will be located at 935 Jefferson Rd., Rochester.
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,