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Deals & Dealmakers

GreyHill Group acquires industrial property for $2.3MM

GreyHill Group, a commercial real estate investment company based in New York, has acquired a 64,536 SF industrial property at 69 Seneca Ave in Rochester, New York . 

The one-story, 64,536-square-foot building is located in one of Rochester’s busiest commercial areas. The property consists of three warehouse spaces and one office space, currently occupied by the anchor tenant, Roc Environmental and tenant, Geva Theater Company.

“We are very excited about expanding into Rochester, particularly within with an industrial property” said Moshe Bloorian, GreyHill’s managing partner and founder. “We have acquired over 500,000 square feet over the past year within the industrial space. But what makes this deal special is the fact that we secured seller financing with the seller at incredible terms compared to the market.” 

GreyHill Group purchased the property from Kevin Perry for $2,295,000. 

Both buyer and seller were represented by Marco Muoio of OFF MARKET STREET REAL ESTATE ADVISORS based out of Rochester, NY.  The listed price was $3.8 million when the property had first been listed earlier this year.    

GreyHill’s Moshe Bloorian had begun making investments in Albany and Troy in 2017. The company’s portfolio includes several assets in Troy as well as in Connecticut where they own Multi Family and Industrial assets. The company now owns more than 400 apartments and 800,000 square feet of industrial space in New York and Connecticut.

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