Getzville, NY Health Management Group has purchased an Amherst area office building property located at 55 Dodge Rd. from Uniland Development Company. The sale price for the 29,635 s/f facility on 4.35 acres was $3.537 million.
Robert Cowing, III of Pyramid Brokerage Company, a Cushman & Wakefield Alliance Member, handled the negotiations for the transaction on behalf of Health Management Group.
New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,