215 Broadway Street, Buffalo

Description

Excellent redevelopment opportunity for a school, multifamily, mixed use, and/or commercial use. The former St Mary’s Lyceum – last used as offices for Belmont Housing – this property is located right next to downtown in the African American Heritage Corridor. It is also next to the Buffalo DPW’s “Broadway Barns” which is slated to be vacated and re-development as a multimillion-dollar mixed use and venue project. The property has easy access to I-190 and Route 33. Sale includes 217 Broadway which is .13 acres of vacant land giving the purchaser a total acreage of 1.24 – plenty for further development, parking and/or amenities. Given the location and condition (the exterior is solid, the interior needs to be revamped), this property is an excellent candidate for grants, tax credits and subsidies.

The building features first floor office space; while the rest of the building has a gym, a former swimming pool, and auditorium (holds about 500) and even a former bowling alley! Seller is willing to share preliminary redevelopment plans (16 to 20 apartments with office and a new build apartment building as one concept) and they have a completed Part 1 for historic tax credits for the property.