Rochester, NY Endeavor Real Estate Group negotiated the sale of The Academy Building, a 28-unit mixed-use 45,960 s/f building located at 13 South Fitzhugh St.
Endeavor’s managing principal James Buckley represented the seller while also procuring the buyer, a west coast based real estate investment corporation.
“Transacted at a price level per unit never before seen in downtown Rochester, this sale confirms there is still demand for high quality, amenity-rich trophy assets even during a period of challenging capital markets conditions,” said Buckley.
The property listed asking price was $6.995 million.
Built in 1873, The Academy Building once served as the city’s first high school, followed by a municipal court building and offices for the city’s Board of Education before undergoing a complete restoration in 2013 which saw the building converted into a mixed-use asset including apartments and restaurant space. The building’s layouts and unique architectural features have produced some of the highest occupancy rates and rental growth in the city.