White Plains, NY The Oak & Avery Group negotiated the sale of four Westchester County properties totaling $6.16 million.
• 54-60 Russell St., White Plains, a 15-unit mixed-use assemblage purchased by a NYC-based firm, Russell Portfolio LLC, for $2.71 million,
• 33 Huguenot St., New Rochelle, a 5-unit multifamily building purchased by White Plains-based Westchester County Management, for $1.2 million,
• 21-23 Saint Charles St., Thornwood, a 5,200 s/f office/industrial building, purchased by Dimensional Corp. for $900,000 and,
• 142-144 S Highland Ave., Ossining, a 7,200 s/f office/retail building, purchased by Sachin Shah for $1.3 million.
Anthony Watkins, president, and David Algarin, vice president, represented the sellers in all transactions.
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,