Michael J. Montante Of Uniland Development Company Acquires Industrial Property In Buffalo For $19.4M
500 Bailey Avenue
$19,400,000
$94/SF
Building Size
205,000 SF
Asset Type
Industrial
Closing
Jun 29, 2026
AI
The industrial asset located at 500 Bailey Avenue in Buffalo, New York, encompasses a warehouse space of 205,000 square feet. It has been sold for a total price of $19.4 million, translating to approximately $94.63 per square foot. This transaction nearly doubled the property's previous sale price of $10.3 million from the year 2019.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $19,400,000
- Address: 500 Bailey Avenue
- Market: Buffalo
- Square Footage: 205,000
- Price Per Square Foot: $94.63
- Buyer: Michael J. Montante - Uniland Development Company
- Seller: Reich Brothers affiliate
Michael J. Montante represented Uniland Development Company in this significant acquisition. The transaction highlights a considerable increase in property value since its last sale, showcasing a strategic investment in the Buffalo market.
Leonardtown Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.82%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93