[PICS] Another Elmwood Apartment Complex Sells in Buffalo, New York

For the second time in recent days, an Elmwood Village apartment-anchored building has changed hands.

It went for nearly 44% more than what it sold for in 2019, based on county records.
According to April 16 filings in the Erie County Clerk's office, TAO Mart Corp. has paid $586,425 for an eight-unit apartment building at 333 Elmwood Ave. The property had been owned by Naing Holdings LLC, who acquired the building in May 2019, paying $407,500, according to county clerk’s office records.

That means the building sold for nearly 44% more than it went for five years ago.
Officials from TAO Mart Corp. could not be reached for comment.

The 9,684-square-foot building, constructed in 1910, is fully leased.

READ MORE: $500,000 Elmwood Apartment Complex Sold In Buffalo, New York

The deal works out to $73,303 per unit, below the Buffalo 2023 per apartment unit sale price of $90,761, according to CBRE/Upstate NY information, and below the region’s $91,701 per unit 2023 average, based on CBRE/Upstate NY data.

TAO Mart’s deal follows the sale of a three-unit apartment building at 1049 Elmwood Ave. that closed on April 15.

Check out some of the pictures from the Zillow listing below.