Author name: Matthew Cianci

MACRE Properties is pleased to announce the off-market acquisition of 146 South Broadway, a four-unit multifamily property located in South Amboy, New Jersey. The property was acquired for $840,000, or $210,000 per unit, and is fully stabilized with a going-in NOI yield of 8.2%. The off-market transaction was sourced through direct local relationships with local investors. The transaction reflects MACRE’s continued focus on acquiring cash-flowing, transit-oriented assets in New Jersey submarkets benefiting from active redevelopment and long-term demand tailwinds. Situated directly on Broadway, South Amboy’s primary retail thoroughfare, and just two blocks from the South Amboy NJ Transit station, the property offers direct rail service to New York Penn Station via the North Jersey Coast Line. South Amboy was one of New Jersey’s first designated Transit Villages in 1999 and has since attracted over $500 million in planned redevelopment investment, including the 1,875-unit Manhattan Beach Club waterfront project and a forthcoming commuter ferry terminal to Lower Manhattan. The city’s combination of transit connectivity, waterfront access, and active municipal redevelopment efforts has driven meaningful home price appreciation, with median sale prices rising over 13% year-over-year. “South Amboy checks every box in our investment criteria: a fully stabilized asset with strong current cash flow, a compelling per-unit basis, and a location embedded within a redevelopment area that is attracting significant public and private capital,” said Matthew Cianci, founder of MACRE Properties. “At two blocks from the train station and on the town’s main commercial corridor, we believe 146 South Broadway is well positioned to benefit from the ongoing transformation of this waterfront community.” Investment Overview:

GLOVERSVILLE, NY  — MACRE Properties is pleased to announce it has completed its acquisition of 337 Bleecker Street, a four-unit multifamily property located in Gloversville, New York—a historic Catskills city undergoing economic and housing revitalization. The $165,000 off-market acquisition was secured through direct negotiation and features highly favorable seller financing. The transaction is a testament to MACRE Properties’ process of sourcing off-market deals in smaller submarkets that tend to be overlooked by the institutional investment world. Located just outside Gloversville’s designated redevelopment zone, 337 Bleecker St. is well positioned to benefit from over $35 million in public-private revitalization, including the nearby Glove City Lofts project and the re-activation of South Main Street corridor. “This acquisition is in a new market for us, although it checks a lot of the boxes for our typical investment criteria with an above-market going-in cap rate, strong current cash flow, and upside in market rents” said Matthew Cianci, Principal at MACRE. Investment Highlights: Planned improvements include full rehab of two units and a refresh of the exterior and landscaping. Revitalization Backdrop Gloversville, once the glove-making capital of the U.S., is experiencing a renaissance after decades of population decline. The city recently secured a $10 million grant via New York State’s Downtown Revitalization Initiative (DRI), funding numerous projects including new residential development, cultural arts venues, and adaptive re-use of decades-vacant commercial buildings. With a low rental vacancy rate, a sub-$50K median home value, and strong public sector backing, Gloversville offers investors an unusual combination of affordability and upside in rent growth. The market doesn’t yet fully appreciate upstate NY’s turnaround story, yet there are subtle markers of improving fundamentals for deep-value real estate investors.

PLAINFIELD, NJ  — MACRE Properties, a privately held real estate investment firm focused on value-add opportunities in class-B-and-C submarkets outside, has completed the off-market acquisition of 12-14 Sycamore Avenue, a four-unit multifamily building located in the heart of Plainfield, New Jersey. The property was acquired for $950,000—or $237,500 per unit—and reflects MACRE’s strategy of targeting undervalued cash-flowing assets with asymmetric upside. Positioned just six blocks from the NJ Transit Plainfield Station, the property sits within a transit-oriented growth corridor benefiting from the city’s ongoing revitalization efforts. Plainfield has seen steady demand from middle-class families seeking affordability within commuting distance to New York City, access to major interstate highways, and a short distance to New Jersey’s shoreline, creating compelling fundamentals for long-term investors. “This deal exemplifies our thesis-driven approach to sourcing value in overlooked markets” said Matthew Cianci, founder of MACRE Properties. “Through proactive engagement, local relationships, and a firm grasp of the submarket’s dynamics, we were able to structure favorable terms and develop a clear path to growth through minor upgrades and strategic rent repositioning.” Investment Overview: The asset was acquired with long-term debt financing from Alpha Funding. Strategic Location Plainfield has become a target market for investors seeking a balance of affordability and growth. With over $425K in median home values and a 3.7% rental vacancy rate, the city’s proximity to Manhattan, combined with its active redevelopment plan, has fueled rent growth and increased investor attention in recent years. The property itself benefits from a large surface lot (8 spaces), high-quality post-2010 renovations in most units, and immediate income enhancement potential through modest upgrades. Exit assumptions under a 7.5% cap rate imply a $1.3M valuation, with upside in a lower-rate environment. 12-14 Sycamore Ave. is MACRE Properties 4th deal and first of 2025. MACRE Is actively seeking off-market multifamily and mixed-use assets in the tri-state area (NY, NJ, CT) that present upside in rents. MACRE is well-positioned to acquire more sub-$5mm assets this year.

GREENPORT, NY  — MACRE Properties is pleased to announce their participation in a structured equity financing for North Fork Cottages & RV Resort (“North Fork Resort”) to fund the transformation of a legacy campground into North Fork Cottages & RV Resort — a 23-acre, high-end outdoor hospitality destination located in the heart of Long Island’s North Fork. Previously operating as a Class-C RV park, the property is now undergoing a multi-phase, $3 million redevelopment aimed at delivering a boutique vacation-ownership resort. The project is steps from downtown Greenport and designed to capture rising demand for luxury nature-based accommodations (i.e. “Glamping”) within easy reach of the NYC metro area. “We’re creating a next-generation resort that blends nature, design, and hospitality into one seamless experience,” said Gary Cioffi, Co-Owner and Managing Partner of North Fork Holdings LLC. “Our focus is on building a destination that caters to families, groups, and couples seeking to own a unique and luxurious asset in one of the most desirable areas of eastern long island.” Redevelopment Now Underway Acquired in 2019 as Eastern Long Island Kampground, the Sponsor rebranded in 2024 and began repositioning the park into a luxury RV resort. The redevelopment involves substantial upgrades to the amenities and common areas including the pool, resort-style bathrooms, a clubhouse, and fitness center to accommodate the 130+ owners that are executing long-term seasonal rental agreements for exclusive access to the resort’s RV lots. Additionally, many of those guests are purchasing the Resort’s fully furnished park models that can also be placed into the Resort’s nightly rental pool for owner’s to generate some income while not using the asset themselves. Investment Overview: The new capital will fund: Resort Snapshot at Stabilization: A Premium Asset in a Growth Market Greenport and the greater North Fork have become a magnet for luxury travelers and second-home buyers seeking an alternative to the Hamptons. As outdoor hospitality continues to evolve, the resort is positioned to capitalize on multiple trends: growing interest in experiential travel, the mainstreaming of RV culture, and the rise of mixed-use outdoor resorts offering ownership, amenities, and hotel-style service. “This is a real asset with real momentum,” added Cioffi. “We’re offering investors exposure to a stabilized income-producing asset, backed by land, vertical development, and a high-margin operating business in one of the most sought-after drive-to destinations in the Northeast.”