City May 17, 2009 9:00 PM

Chapin Parkway Mansion For Sale

Chapin Parkway Mansion For Sale
Remember going to the 2001 Junior League Decorators' Show House?  Well, either way, the Chapin Parkway mansion that was rehabilitated and redecorated for the 2001 Junior League event has just been listed for sale with an asking price of $1.4 million. 

The towering tudor sits on Chapin between Potomac and Saybrook and contains nearly 7,000 square feet of living space.  That's an asking price of just over $200 per square foot.  The house last sold in November 2000 for $550,000.  This $1+ million listing comes on the heels of another notable Buffalo mansion selling - David Rich's residence at 37 Middlesex sold in December 2008 for $1.4 million - that sale price represented a price per square foot of nearly $220.  Not surprisingly, these houses command huge premiums to the average Buffalo houses which generally trade for around $40 per square foot.



The Chapin house has 5 bedrooms, 5.5 bathrooms, a 3.5 car heated garage and a 2 bedroom guest apartment and a host of other mansion-style luxuries including marble floors, pocket doors, and an Auburn Watson kitchen.

If you want to just write a check for the $1.4 million so you don't have to hassle around with a monthly mortgage payment, you'll just have to worry about your utilities and your property taxes.  And the property taxes are. . . drumroll. . . a mere $19,755 a year.   


Get Connected:
Susie Lenahan
MJ Peterson Real Estate
864-6757
 
 


 
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We've covered some Buffalo mansion listings in the past, but today's listing may the most remarkable.  A mansion on Nottingham Terrace, between Delaware Avenue and Lincoln Parkway, has just been listed for sale for a jaw-dropping price of $2,150,0... Read More

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It seems like $1.4 million is a popular price. A unit in the Campanile Apartments on Delaware and Bryant was just listed for the same amount. It is reported to have 7000 square feet and 12 bathrooms (no waiting). Anybody know who lives there???

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The taxes won't stay there if it sells for $1.4m. If reassessed at the asking price, those taxes would just about double.

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You could buy an entire square city block for that price and build a home to your liking or settle for half the east side. Which ever you choose.

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I'm confused...Is this an article about real estate in Buffalo or an advertisement for Susie Lenahan? It is stories like this which make me question the agenda of BR. I would much rather read about development in our communities of need, new construction projects in the city, etc. than an article that is working to make an already rich real estate agent much richer.

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Isn't the price of homes in our City important to everyone who lives here or is thinking about moving here?


This piece lists historical price per sq/ft information that is both interesting and relevant so your comment seems completely off-base.


The Realtor is listed as a matter of course and my guess is that this house will not sell as a result of this article.


Maybe YOU should submit some articles about more "important" issues in Buffalo...or you could just read the articles you like and leave these ones alone. But I appreciate the information and always find it interesting to see what people are willing pay for a Buffalo Mansion.

replied to BfloGrl
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Huh. I purchased my piece of crap suburban my-house-looks-like-every-other in North Las Vegas for $225 a square foot. That sums up the difference in the markets.

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I agree bflogrl, blue-bloodism is evident in this article it has no substance whatsoever. Maybe its Norwood's mothers estate and he needs it to sell so he can buy a new boat for the summer.

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Hahahaha. That is great. My sincere apologies....please return to your more important issues that are rehashed over and over with no progress.

replied to killmenow
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I follow high end real estate in Buffalo. Fot those who haven't, there has been sudden glut of these mansions on the market recently. And, they are the very best the city has to offer. There are two others comparable (in price)right now. One is on Tudor place and one is the condo mentioned above at 800 W. Ferry. Months ago, there was a home at a slightly higher price on Rumsey Road.
It is a trend. Because it is unusual in these most extroardinary economic times, it is significant. Can it be that the owners have sufferred a reversal of fortune? Does it mean there there are buyers out there seeking these magnificent homes? Could it mean that these homes that have been so finely redecorated by the Junior League are taking advantage?
One thing is certain; these are Buffalo's best and they are for sale. This is a very big deal. There is a huge message in this trend for all area residents as it signals important changes coming our way soon. Anyone wish to speculate?

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I agree with you Pegger, and this would have been a real article if BR had addressed these very relevant questions.

replied to Pegger
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Silly post. The usual idiotic comments.

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I think there is a bigger lesson here?

I think that the trend has shifted in housing. People are trending away from big suburban vinyl McMansions in favor of smaller spaces of higher quality.

The big picture is that the high quality homes between Main and Niagara Streets are stable and increasing in demand/value.

The big picture is that high quality condos and apartments are stable and increasing in demand/value.

The missing story is that there is quite a bit of land between main and Niagara for infil with high quality but period designed residential, especially if the backyards were made into a common area with a pool, tennis court and playground.

The missing story is that builders are still shying away from infill and when they do, its to contemporary and its to expensive for what they are offering.

The missing story is that the area between the Niagara Expressway and Niagara Street should be ripe for the continuation of waterfront towers.

The biggest positive story is the possibility that Childrens Hospital could be leaving Elmwood for the LifeSciences Corridor! YEAH! There is real potential for residential development at Millard Fillmore and Childrens!

The issue is that the builders are still risking their money in the exurbs than in the city.

LAST WORD: THE DEMAND IS THERE FOR RESIDENTIAL IN THE CITY, PARTICULARLY BETWEEN THE WATERFRONT AND MAIN STREET. HOWEVER, THE REASON THE CITY IS A TOUGH SELL IS SIMPLE! THE CITY STILL HAS A POOR RECORD OF JOB GROWTH. IF ONE LOOKS AT THE SUBURBAN AND EXURBAN INDUSTRIAL PARKS, OFFICE PARKS AND RETAIL...BUFFALO STILL HAS NOT COME UP WITH A WAY TO PROMOTE ITS BROWNFIELDS AND EMPTY CITY BLOCKS AS VIABLE REPLACEMENTS!

FIND A WAY TO BRING BACK JOBS AND THE DEVELOPERS WILL FOLLOW!

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