PH Realty Capital & Rockledge Acquire 328-Unit Multifamily Complex In Webster For $29.8M

PH Realty Capital and Rockledge have partnered to acquire the Country Manor apartment complex in Webster, NY. Located at 185 Country Manor Way, this garden-style multifamily property consists of 328 units. The transaction closed on November 30, 2021, with a sale price of $29,800,000, equivalent to $91,000 per unit. With a total area of 75,894 square feet, the property offers an average of 231 square feet per unit. The sale price per square foot amounts to $392.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $29,800,000
• Address: 185 Country Manor Way
• Market: Webster

The buyer in this transaction is PH Realty Capital represented by Peter Hungerford and Rockledge represented by David Kaye, Joe Listhaus, Rami Polinsky, and Eli Greenberg. The deal was facilitated by James Buckley and Patrick Salvato from Endeavor Real Estate Group.

PH Realty Capital and Rockledge plan to enhance the value of the property by implementing rent increases across all units and aiming for higher occupancy levels.