2915-2949 N Forest Rd - Apartments FOR SALE


Amherst, NY 14068
$48,300,000 USD
215-454-2879
2915-2949 N Forest Rd, Amherst, NY for Sale
$48,300,000 USD
Apartments - FOR SALE
1/11
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

$287 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

22,293 SF

ZONING

NCD-SA/GC

APN/PARCEL ID

142289-041-090-0001-001-000

ASK ABOUT THIS PROPERTY

215-454-2879

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215-454-2879

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