Real Estate March 6, 2009 12:10 AM

Price Slice at The Whitney Condos

Price Slice at The Whitney Condos

Prices at The Whitney condo conversion project have been cut by $10,000.  The six units, each with two bedrooms and one bath in 1,093 sq.ft. of living space, are now priced from $119,900 to $139,900.  Located at 65 Whitney Place in the West Village Preservation District close to downtown, the building is being restored and updated by Sal Zambito and Tim Sick of Sunset Bay Park, Inc.

whitneyfront.jpg

Opened in 1898, the three and a half-story brick, Italian palazzo-style building was originally built as a hotel for the Pan Am Exposition.  The building's exterior features decorative brick quoining and splayed brick arches.

"The project is coming along nicely," says real estate broker Jim Mack of Holcberg Ltd.  "Installation of the parking lot will get underway once the weather breaks and should be fully finished by early April. Once the parking is in place, I feel there will be a turning point in the sales of the units."

65 Whitney Living Rm.jpg

Units feature exposed brick walls, high ceilings, insulated glass, recessed lighting, six-panel doors, closet lighting, dishwasher, updated plumbing, basement storage areas, sprinkler system, and forced-air heat/AC.

"The upgraded unit with bamboo flooring and the stainless steel kitchen has been repriced at $139,900 while the other units with carpeting and a basic formica kitchen with white appliances are now priced at $119,900," according to Mack.

65 Whitney.jpg

"I love this project," adds Mack.  "It offers an excellent financial and practical alternative to renting. And now, with interest rates at near-historic lows and well-timed stimulus package tax credits for first time homebuyers, what could be a better incentive for a city lover to purchase and stake a claim to owning an historic piece of Buffalo?"

Get connected: Jim Mack, 716-884-1144

65 Whitney Living room.jpg


 

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Comments

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They would get their price if they put the cornice back on the building.

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I havent seen the inside in person but from what i have seen i'm shocked so see the price go down at all. If i were in the position to buy my first place, this would be it. I guess this is just reflecting national trends

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Cue BO,A$$man,Georged who will cry about what a bad idea it was to rehab this building.

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Well, here are the lower priced condos everyone has been asking for.

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I agree, pretty damn nice place for 120k. They would be double that in other cities [still empty, but double]

replied to NorPark
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Not Empty, Lease To Own Option Has already Been Taken Up On!,
Owner Understands Todays Needs And Has Offered Lease To Own For Those With Hard Work Ethics But Caught Up In Banking Snafu!

Bottom Line - If U Can Afford To Rent Here, U Can Own Here With Owner Financing!

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Last time I checked, the difference between $139,900 and $119,900 is $20K.

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Wups- I'll read more closely next time... I wish there was a way to delete your own comments

replied to mec
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mec - the base model and the upgraded model were both reduced by $10,000

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If I didn't buy a house already the Whitney would be the first and probably the only place I'd look at. If this section of the city continues its upward trend, these condos are sure to command a premium for location in the not-so-far-off future... thanks, of course, to the residents working so hard to revive the West Village. Kudos to them and the Sunset Bay Park crew.

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Ahh I hate exposed brick in buildings that always had plastered walls. Just my design OCD, otherwise it seems like a great deal and a great location!

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Jim Mack of Holcberg, Ltd

"Installation of the parking lot will get underway once the weather breaks and should be fully finished by early April. Once the parking is in place, I feel there will be a turning point in the sales of the units."


I glad Mack is quoted here. This was the biggest turn-off when my fiancee and I looked at the Whitney. The parking is around the corner from the front door of the Whitney. I would be VERY uncomfortable with her coming home at night and having to walk from the car to the front door.

Also, these are cozy units with little closet space.

That said, it is great that they are affordable, and when the parking spaces get build out, I will go have another look.

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Charlie,

Do you plan on never leaving the compound on foot?

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Carolina Street can be intimidating at night. Things are going the right direction, but Carolina is still a bit of a boundary.

replied to nick
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They really need to get Google Maps to change the Streetview Image of 65 Whitney. If I wasn't completely familiar with the street (and even though I am), seeing the picture of 3 guys brownbagging some 40's on the stoop isn't the most enticing image to buy a condo.

http://maps.google.com/maps?source=ig&hl=en&q=65+Whitney+Pl,+Buffalo,+Erie,+New+York+14201&ie=UTF8&cd=2&geocode=Fft9jgIdiF9M-w&split=0&sll=42.878242,-78.728797&sspn=0.006295,0.006295&ll=42.897865,-78.881106&spn=0,359.984293&t=h&z=16&iwloc=addr&layer=c&cbll=42.892706,-78.881127&panoid=P6GSW-zhOS3zYw4uAZNRJw&cbp=12,63.91271147212818,,0,13.975409836065573

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West Village is an interesting area that I've never really considered before.

Does anybody know what those newer, historically modeled houses along Cary St are? Was that a development or is that subsidized or something?

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UnionAMG - I agree with you about the outdated picture from Google Maps. Actually those people were cleaning contractors their lunch break back in the summer of 2007.

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should read "ON their lunch break" - sorry for the typo

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I second the comment about the cornice. Difficult enough to walk by without wincing but I could never live there.

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I lived on Whitney for 4 years before packing for the burbs and it was the best place we ever lived, including EV where we lived for about 4 also. There were some unsightly moments but the neighbors are great and I went weeks without driving my car. The location is awesome, walk to restaurants, events, coffee shops, waterfront and 5 min or less to wegmans or tops. it is actually are very quiet too.

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Thanks for the correction Tim... I do think the area is improving and think what you've done on Whitney is great. No malice intended by my comment. I was just noting (as I'm sure you're aware) that perception of a neighborhood is such a strong determining factor in choosing where to buy a house/condo. I hope this works out well for you, as it will only bring more investment to this area of Buffalo.

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The bum hive next door is on the market now. If someone were to buy it and use it for anything other than a flop house the Whitney would be an easier sell.

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No Parking attached=people not feeling safe=no buyers
Parking is the second most most important thing for buyers, obviously. Carolina is a nightmare after 8pm...good luck,

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I've been living in the new Whitney building since February. Many improvements have been made, including Off-street parking, improved lighting. We've even pruned the trees that were blocking the city street lights. A bad situation won't fix itself.

replied to assaroni
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I love these condos and I do agree this street is coming around, but after seeing this article today, I went by the building this afternoon and there were three homeless people sitting on the steps of the building.

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welcome to new york, welfare capital of america and to buffalo where we cradle the people that feed off the system. You want to live in this building in this part of town, be prepared to be surrounded by section 8!

replied to adramelecha
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adramelecha, if you never want to encounter homeless people, or people drinking beer from a brown bag, then avoid every major city in the WORLD. Do you think city dwellers in New York or LA or Paris are afraid of every non yuppy that they encounter?

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Very true. I've been to my fair share of cities of all sizes in several countries and honestly, the amount of homeless people that i encounter on the streets of Buffalo is relatively small in comparison.

replied to max
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maybe theyll be allowed hang out on the front steps of the Avant too. Sweet!

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If you want to pay a 200K premium to never be asked if you have a dollar, then by all means, I'm sure the Avant will keep you sufficiently insolated.

replied to assaroni
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adramelecha - did it strike you as funny that the "homeless people" were the same as in the google maps picture from the summer of 2007?

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sweet, thats exactly what we want...keep them away, bad enough we pay for them through taxes already...damn liberals

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I've got to say that do to the great response of the article, I called the cleaning crew to make sure they have the property well cleaned. I guess that in a rare 54 degree day they were sitting again on the front steps to enjoy some of the warmth - thank you for catching them so now I don't have to pay them too much!

On another note, the tenants next door have been great. Unfortunatly the landlord is neglectful and good people like Marilyn Rodgers and other neighbors have tried to get her to fix the delapitated building, but to no avail. You couldn't ask for kinder neighbors who served in Vietnam and due to the poor system have been forced to live in one place together, but I would commend them on their service to our country and not make bad jokes at their expense. If they served in Iraq or Afghanistan, would that make you feal different?

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Considering this is an area (WNY) where someone can buy a NFL player's 5,000 square foot crib on an acre lot for $550,000, it seems a bit overpriced to have a condo in a sketchy part of town for $139,000. Good luck selling these, might as well start looking for renters.

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Especially when that "NFL player's 5,000 square foot crib" is on an acre lot with one spruce tree and an empty huge lawn. Maybe one reason people pay a premium to live in town is there's more outside the breakfast nook window than a vinyl-sided two car garage 200 yards away.

replied to georged
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good looking street, has a chicago vibe to it.

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lets get something straight, there is nothing similar in Buffalo to Chicago!

Unemployment rate here is 9%, highest in 20 years! and going higher

How do you think this will effect real estate, especially high end...prices will be slashed all over the region by at least 30%.

Income levels do not support prices and TAXES!

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BO - in case you've been living under a rock lately, unemployment rates have been skyrocketing all over. National rate is over 8% now. I'm sure Chicago's is similar to ours at this point.

replied to BuffaloObesity
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What took you so long?

replied to BuffaloObesity
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are you kidding me? You've obviously never been to Chicago, and if you have then clearly didnt venture off into the neighborhoods. This streetscape absolutely has a Chicago feel, go check some north chicago streets on google maps to see for yourself.

replied to BuffaloObesity
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Dont listen to him. He will pi$$ on anything positive. I agree with you that this block has big city atmosphere. Big brick buildings build right up to the street with the skyline in the background. High density without east coast style rowhouses. Very Chicago like indeed.

replied to jamesbflo
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The local unemployment is actually lower than the state average, and lower than the national average. Erie county property values actually INCREASED by 3% during the recession, and almost 40% over the past 10 years. A recent Forbes Magazine article rated Buffalo in the top 20 cities during the recession. I have recently moved into the Whitney and I love the building, and living downtown. The atmosphere is increasingly positive. I enjoy the ability to live in an urban environment, with similar amenities and proximity to restaurants and entertainment, without paying Chicago/NYC/Los Angeles prices.

replied to BuffaloObesity
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Once again, I still don't get why gaustad gets so excited about condo prices. If these units are overpriced, the prices will fall. We've apparently seen that happen. People have different tastes and values, so arguments like "building x/neighborhood y can't support these prices" don't mean very much. And these are usually (mostly) private projects, so it's not as if tax dollars are at stake. So what's the issue?

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Question on another condo project - Does anyone know the status of the 3 condo units at 185 York Street? Are they all spoken for? I know the project is still in process, so I'm not even sure if they are available for sale yet. If anyone has any information to share, I'd greatly appreciate it!

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