
Apartments in Lancaster Sell for 36% Above Market Average
More proof that investors remain bullish on the region’s apartments can be found in a deal that closed on Oct. 2.
In the deal, investors 625 Rowley LLC paid $1 million for an eight-unit apartment complex at 1799 Como Park Boulevard in Lancaster.
The building, developed in 1987, had been owned by Wardens LLC, according to documents filed in the Erie County. Clerk's office.
All eight apartments are leased.
Each apartment is a one-bedroom model.
The deal works out to $125,000 per unit, or 36.3% above the region’s per apartment average sale price of $91,701, as tracked by CBRE Upstate.
No major changes are planned for the apartments.
One Million Dollar Home Sold In Elma NY
Over 1 million dollar home recently sold in Elma NY
Gallery Credit: WNY Inc. Zillow.com