Binghamton, NY Richard Will, president of Hemisphere Holdings Corp. completed the sale and closing of the Chapin Court Apartments. The sale price was $550,000.
The subject property is located at 162-164 Chapin St. BL Chapin 113, LLC sold the 20 unit property to Chapin Street, LLC.
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,