Property Description

Waiting for your vision to be executed situated just blocks from Five Points, where morning lines form outside Remedy House & Butter Block & evenings start with a stop at Paradise Wines.This project is not for the lipstick flip crowd but a true pro that understands design-forward architectural restorations and thoughtful amenity packages achieve record settings prices.Mid-stage demo is underway so access to walls,ceilings & floors including crawl space makes for stress free MEP followed by your crew finishing over winter ready for spring market.The 2,492 gross sq ft footprint easily supports a custom 3 bed / 2.5-bath floor plan w/ an incredibly attractive floorplan.Tearing down the collapsed rear structure reclaims the deep 148' rear yard which provides the space to build a high-end outdoor living space that buyers are seeking in the city but can't find for under a million. All selected comps sit within an average of just ~0.48 miles from the subject property. With half of the active/closed dataset located less than a half-mile away, this valuation is anchored directly in the immediate neighborhood. Across 11 closed sales in the past year, comps averaged $401,364 ($203.69/sq ft) with a max closed price of $500,000 ($233.20/sq ft). Applying the neighborhood average ($203.49/sq ft) directly to the 2,492 sq ft tax record establishes a baseline ARV of $507,000 and with nearby active/pending comps pushing $233-$250+/sq ft ($580k-$625k+ ceiling).Sales data over the past 6 months shows demand accelerating, w/ closed comps commanding an average 1.15 Sale-to-List price ratio (buyers bidding up to 19% over asking), up from the 1-year average of 1.10 which aligns w/ Redfin and Zillow data consistently ranking Buffalo near the top for percentage of homes sold over list price, with over 54-65% of all homes commanding bidding wars.Days on Market averages 7 to 8 Days across both 6-month and 1-year datasets. Major national publications like The New York Times, Architectural Digest, and Forbe frequently highlight the West side of Buffalo as a premier example of urban historic restoration and commercial-residential synergy. High-end finished inventory in Five Points won't sit.

Property Features

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