Manhattan, NY Jeffrey Zund and Michael Adler of Resolution Real Estate arranged a 4,812 s/f space at 271 Madison Ave., between 39th and 40th Sts., for Looking Glass Psychology. The behavioral health practice signed a 10-year lease for the full-floor space, which is fully built out and in move-in condition.
Resolution Real Estate is the exclusive leasing agent for the landlord, 271Mad LLC. Representing the tenant was Max Freudenberger of Meridian Capital Group.
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,