49 Stone St, Rochester, NY 14604

Executive Summary

This Offering Memorandum presents a rare opportunity to acquire a fully renovated, stabilized four-story mixed-use asset located in the heart of Downtown Rochester, New York. The Property consists of 21 residential apartment units and 4,946 square feet of ground-floor commercial space, delivering diversified income supported by strong urban rental demand and prominent street-level visibility.

Completed in 2020, the Property underwent a comprehensive gut renovation that repositioned the asset into a modern, market-rate residential and commercial community. Today, the Property offers investors durable cash flow, minimal near-term capital expenditure requirements, and long-term appreciation potential within a revitalizing downtown corridor.

Investment Highlights

• Fully Renovated (2020) – Comprehensive building modernization including all new mechanical systems and interior finishes.

• Stabilized Market-Rate Asset – Renovated to attract young professionals, remote workers, and urban lifestyle tenants.

• Diversified Income Stream – 21 residential units complemented by 4,946 SF of commercial space.

• Institutional-Quality Finishes – Contemporary unit interiors with industrial loft-style design.

• Strong Amenity Package – Open-air rooftop deck, dedicated dog park, and secure building access.

• Walkable Downtown Location – Proximity to employment centers, dining, retail, entertainment, and public transit.

• Limited Near-Term Capital Needs – Major systems replaced during renovation.

Property Renovation & Improvements

The Property was completely renovated in 2020 through a full-scale redevelopment program that modernized both infrastructure and interior living spaces. Improvements included installation of new mechanical systems, upgraded electrical and plumbing components, enhanced life-safety systems, and modernization of all common areas.

Residential units feature contemporary market-rate finishes designed to appeal to today’s urban renter, including:

• Modern kitchen cabinetry

• Stainless steel appliance packages

• Granite countertops

• Hardwood and luxury flooring finishes

• In-unit washer and dryer

• Secure building access and surveillance camera system

Units incorporate an industrial-inspired aesthetic featuring exposed HVAC ductwork, contract ceilings, and loft-style architectural elements that create a distinctive urban living experience.

The Property also benefits from enhanced tenant amenities, including an open-air rooftop deck with dedicated dog park, pet-friendly accommodations, and convenient adjacent parking access.

Residential Component

The residential portion consists of 21 thoughtfully designed apartment units configured as one-bedroom and two-bedroom layouts. Units are designed to maximize space efficiency while delivering modern finishes and open-concept living environments.

Target tenant demographics include:

• Young professionals

• Urban lifestyle renters

• Downsizers

• Remote and hybrid workers

Key residential features include:

• Open-concept layouts

• Energy-efficient systems

• Loft-style ceilings

• Contemporary kitchens

• In-unit laundry

Commercial Component

The Property includes approximately 4,946 square feet of ground-floor commercial space ideally suited for retail, boutique fitness, restaurant/café, professional office, or service-oriented uses.

Commercial advantages include:

• Strong street visibility

• Dedicated storefront access

• Consistent residential foot traffic

• High vehicular exposure

The commercial component enhances overall asset performance by diversifying income streams while increasing visibility and activation at the street level.

Amenities

• Open-air rooftop deck

• Dedicated rooftop dog park

• Secure building access

• Surveillance camera system

• Pet-friendly community

• Walkable urban environment

• Adjacent parking availability

Location Overview

Situated in Downtown Rochester, the Property benefits from immediate access to employment hubs, entertainment venues, retail corridors, and public transportation infrastructure. The surrounding neighborhood continues to experience reinvestment driven by residential demand and urban revitalization initiatives.

Offering Terms

The Property is being offered for sale by Empire Realty Group and Empire Real Estate Firm, as C0-Brokers. Pricing guidance, rent roll, operating statements, and additional financial information are available upon execution of a confidentiality agreement.

Empire Real Estate - Empire Commercial will be the Firm to answer financial and reconstruction questions.

Empire Realty Group- Commercial Division is located in Rochester and can assist in arranging site visits as well as leasing the commercial space.

Disclaimer

• This Offering Memorandum has been prepared solely for informational purposes and does not constitute an offer to sell or a solicitation of an offer to buy. All information contained herein has been obtained from sources deemed reliable; however, no warranty or representation is made as to its accuracy or completeness. Prospective purchasers are advised to conduct their own independent investigations and due diligence.