
Canton, NY Hemisphere Holdings Corp handled the sale and closing of The Harison House Apartments. The deal was handled by Hemisphere Holdings president, Richard Will.
The sale price was $2.1 million.
The subject is a 47-unit property located at 47 & 49 Judson St. Howe Reale, Inc. was the seller, while Lorpak Harison House, LLC was the buyer.
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,