Amherst, NY Kulback’s, Inc., has completed the Muir Lake Luxury Apartments for Glendale Development LLC. This new three building complex totals 123,000 s/f of living space.
The complex consists of 90 market rate apartments ranging from one to three bedrooms and is located at 2371-2395 North Forest Rd. Additional highlights include elevator access to all floors, indoor parking, additional storage units, balconies, and the security of a key fob building access system. The complex is close to the Amherst Bike Trails, SUNY University at Buffalo campus and other area attractions. Residents can access Walton Pond Center’s pool, clubhouse and tennis courts.
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,