Updated Sep 2, 2026
SOLDMultiFamily
Nick Stageberg Of Black Swan Realty Acquires Meadow Park Apartments In Rochester For $4M
412 14th Street
$4,000,000
Units
90
Asset Type
MultiFamily
Closing
Apr 23, 2025
About this deal
AI
The asset involved in the transaction is a multifamily property located at 412 14th Street in Rochester. The sale price was $4,000,000, with a total of 90 units, translating to a price per unit of $44,444.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $4,000,000
- Address: 412 14th Street
- Market: Rochester
- Units: 90
- Price Per Unit: $44,444
- Buyer: Nick Stageberg - Black Swan Realty
- Broker: Ryan Spengler - Small Bay Properties
Principal Nick Stageberg of Black Swan Realty stated that the company plans to invest millions in repairs to the acquired Meadow Park Apartments while ensuring the units remain affordable for residents.
On the Map
$4,000,000
MultiFamily
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.97%
Cash-on-Cash
-1.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93