Updated Dec 5, 2025
Michael Lorigo Of Pillar Real Estate Acquires Multifamily Properties From Brian Burke For $66.5M
510 Center Road, 3400 Mc Kinley Parkway & 5570 Camp Road
$66,500,000
Units
671
Asset Type
MultiFamily
Closing
Nov 6, 2025
About this deal
AI
The transaction involved four multifamily apartment communities located at 510 Center Road, 3400 McKinley Parkway, 3300 McKinley Parkway, and 5570 Camp Road within the West Seneca, Blasdell, and Hamburg markets. The total units in the properties are 671, and the sale price was $66,500,000, resulting in a price per unit of $99,106.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $66,500,000
- Buyer: Michael Lorigo - Pillar Real Estate
- Seller: Brian Burke - E/F Burke Realty Co
- Total Units: 671
- Price Per Unit: $99,106
Pillar Real Estate's acquisition, led by Michael Lorigo, was significant in supporting the Burke family's ongoing development projects through the proceeds from this transaction. The seller, Brian Burke, represented the E/F Burke Realty Co in this deal.
On the Map
$66,500,000
MultiFamily
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Players
Buffalo MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.24%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93