CBRE|Buffalo's DiFiglia and Starzynski arrange $2.85 million sale; Haqq of Hastings Cohn represents buyer, Whitesand Family L.P.

A local investment group has purchased 305 W. Utica Apartments, an 18-unit apartment complex just steps away from Elmwood Ave. The complex sold for $2.85 million. CBRE|Buffalo's James DiFiglia, CEA, associate broker, and Robert Starzynski CCIM, associate broker, represented the seller, FJF Development - Utica Street Condominium LLC. Cory Haqq of Hastings Cohn, represented the buyer, Whitesand Family L.P. Completed in 2011, 305 W. Utica is a two-building complex with 18 apartment units, and 16 internal garage spaces. Sixteen units are two bedroom, two bathroom units; the other two units are ground level studio-size units. The apartment complex sold at a per unit price of $158,333. Citing an eight-year review of CBRE|Buffalo Multi-Housing MarketView reports, Starzynski said, "This sale far exceeds the previous city of Buffalo recorded high of just over $100,000 per unit for the Sidway Building in 2007, and any other rental apartment investment property in Western New York during that period. This bodes well for the Buffalo Market." CBRE|Buffalo MarketView reports cover Office, Multi-Housing, Industrial and Retail market segments. City officials, developers and economic development agencies consistently use the reports as a resource of the current market situation.