2915-2949 N Forest Rd - Apartments FOR SALE


Amherst, NY 14068
$48,300,000 USD
2915-2949 N Forest Rd, Amherst, NY for Sale
$48,300,000 USD
Apartments - FOR SALE
1/10
null | 5.98% Cap Rate

2915-2949 N Forest Rd
Amherst, NY 14068


HIGHLIGHTS

  • Modern 2021-Built Property: 154-unit, 481-bed student housing asset built in 2021, spans 5.50 acres with sleek design and premium finishes
  • Versatile Unit Mix: Offering studios, one-, two-, three-, and four-bedroom units; the property appeals to diverse student needs
  • Resort-Style Amenities: Boasting a 2,374 SF clubhouse with study pods and gaming, fitness center, resort-style pool, movie theater, hot tub & more
  • Supply-Constrained Campus Proximity: Located minutes from UB’s North Campus, the property thrives in a market with 32,000 students

OVERVIEW

Global Real Estate Advisors (GREA) extends to well-qualified investors the unique opportunity to acquire the fee simple interest in Auden Buffalo. This property offers investors a premier opportunity to acquire a best-in-class student housing asset, built in 2021 and located just minutes from the University at Buffalo’s North Campus in Getzville, NY. With 154 units and 481 beds across studios, one-, two-, three-, and four-bedroom apartments, the property serves a wide student base, achieving an impressive 98% occupancy rate. Constructed in 2021, Auden Buffalo requires no immediate capital investment, delivering strong in-place cash flow from day one. Its modern architecture and high-end finishes align with students’ preferences, ensuring consistent leasing strength in a competitive landscape. The property’s resort-style amenities redefine student living: a 2,374-square foot clubhouse with foosball, pool tables, study pods, a fireplace, and an electronics bar; a state-of-the-art fitness center and yoga studio; a resort-style pool with lounge areas; a movie theater; hot tubs; BBQ grills; fire pits; and a complimentary shuttle to UB’s campus. High-speed internet, cable, and a pet-friendly policy further enhance tenant appeal. Situated near Getzville Plaza’s retail and dining, Auden Buffalo blends convenience with a vibrant student lifestyle. With UB’s 32,000 students driving demand and no student housing projects in the pipeline, Auden Buffalo is positioned for sustained occupancy and rent growth. This high-barrier market, anchored by the University’s academic and economic stability, offers investors a rare chance to own a turnkey, high-performing asset. Auden Buffalo delivers exceptional in-place performance and long-term stability in one of the Northeast’s most resilient student housing markets. It is a standout investment for those seeking a low-maintenance, premier property in a supply-constrained, student-centric location.

FOR SALE DETAILS

PRICE

$48,300,000 USD

PRICE/SF

$522 USD /SF

# OF UNITS

153

PRICE/UNIT

$315,686

CAP RATE

5.98%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Auden Buffalo

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

2021

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.51 AC

LAND SF

22,216 SF

ZONING

NCD-SA/GC

APN/PARCEL ID

142289-041-090-0001-001-000

ASK ABOUT THIS PROPERTY

Research In ProgressResearch In ProgressMore Info

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.

Research In ProgressResearch In ProgressMore Info

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.