For the third time in recent weeks, a Buffalo-based investment group has sold one of its apartment holdings for a sizable profit.

BD Hertel LP, according to documents filed Oct. 10 in the Erie County Clerk's office, sold an eight-unit apartment building at 52 Wilbury Place in Buffalo’s Hertel/Black Rock neighborhood for $1,213,000.

Investors MS Wilbury Realty LLC bought the complex, according to county documents.
BD Hertel, an affiliate of Blue Dawn Properties, bought the circa 1985-era complex in June 2021, paying $985,000, according to the county clerk’s records.

For BD Hertel, that translates to a 23% payback for its investment.

The deal works out to $151,625 per apartment, or 65% above the Buffalo Niagara regional per unit price of $91,701, according to data tracked by CBRE Upstate New York.

BD Hertel sold a mixed-use, apartment-anchored building at 1225 Hertel Avenue in September for $1.625 million and, on October. 9, closed a deal for the 22-unit Glendale Apartments at 2803 Main St. for $3.1 million.

 

One Million Dollar Home Sold In Elma NY

Over 1 million dollar home recently sold in Elma NY

Gallery Credit: WNY Inc. Zillow.com

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