Amherst, NY Plaza One Group recently purchased an 82,000 s/f office building.
The property is located near University at Buffalo’s Amherst Campus. Plaza One is owned by the real estate entrepreneur Ron Alsheimer.
The sale price was $3 million.
Cushman & Wakefield/Pyramid Brokerage Co. of Buffalo’s David Schiller SIOR and Ben Schiller cooperated in the transaction with Ron Tronolone from M.J. Peterson Commercial.
Pyramid Brokerage Company is Upstate New York’s largest and only regional commercial real estate services firm with over 100 agents in 10 offices across the state and has been a leading provider of commercial real estate services since 1971. With 10 offices across Upstate NY and a member of the Cushman & Wakefield Alliance – a fully integrated extension of the C&W global platform, Pyramid Brokerage Company can serve your commercial real estate requirements locally, regionally and world-wide.
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,