U-Crest Apartments and Belvedere Manor Cheektowaga, New York

As exclusive agent, Cushman & Wakefield and Pyramid Brokerage Company are pleased to offer a 100% fee interest in the U-Crest Apartments and Belvedere Manor (the “Portfolio”) for sale.

This offering presents the opportunity to acquire 340 apartments across 2 communities located throughout Buffalo’s second largest suburb, Cheektowaga, NY. U-Crest Apartments consist of 240, 2 bedroom units, while Belvedere Manor consists of 100, 1 & 2 bedroom units. Built throughout the 1960’s, these communities provide new owners with a reliable and stable income stream, along with the potential for significant gains through renovation projects. The current in-place rents at both properties, on average, are 13% below the competition.

The properties location in Cheektowaga, 9 miles east of downtown Buffalo, offers residents access to numerous outdoor recreational activities as well as quick access to the region’s major economic hub. Cheektowaga is home to around 76,000 residents with an average household income of $83,000. The community appeals to a diverse group of residents, spanning across young families, professionals, and empty nesters who appreciate the serene, bucolic environment just a short drive from the urban hotspot of Downtown Buffalo.

Investment Highlights